By Allison Watkinson
TLL Reporter
Universal Parks & Resorts has merged two of its key businesses to create a new division called Universal Products & Experiences (UP&E).
The new division is a combination of the Universal Brand Development and Universal Parks & Resorts Merchandise Group.
UP&E says its goal is to extend the company’s popular franchises through immersive experiences, product expansions, and digital initiatives such as NFTs.
UP&E will achieve this through world-class licensee partnerships and direct operations across its many theme park locations, e-commerce platforms, live-entertainment venues, and retailer relationships across the globe.
The division will be led by current Universal Brand Development president, Vince Klaseus. Klaseus will report directly to Mark Woodbury, the Chairman and CEO of Universal Parks & Resorts.
“Joining these two talented teams into one group creates a powerhouse division focused on compelling consumer products and experiences both inside and outside our theme parks,” said Woodbury.
“Our goal is to create products and experiences for fans that are as innovative and compelling as our lands and attractions. This team can now deliver and execute that on a much larger scale.”
Along with global brand strategy, UP&E’s main lines of business include Consumer Products, Games and Digital Platforms, as well as Theme Parks Products & Retail.
UP&E will be responsible for expanding the reach of NBCUniversal’s brands and intellectual properties from Universal Pictures, Illumination, DreamWorks Animation and NBCUniversal Television and Streaming.
“We’ve built a robust, successful, and expansive CP business over the last few years, and now by combining the creativity and innovation capabilities of the theme park’s direct consumer and retail skills, we’re going to take our collective business to new heights for consumers, our team, and the company overall,” said Vince Klaseus.
“2022 has been a phenomenal year for our CP business with properties like Jurassic World, Minions, and Gabby’s Dollhouse taking off to new heights. That strength plus the phenomenal theme park performance and guest experiences makes this team coming together even more powerful,” Klaseus added.
“I can’t wait to see what we will accomplish together with the combined team focused on new areas of growth and collaboration across physical and digital product categories and retail.”
Universal Parks & Resorts is a unit of Comcast NBCUniversal. With the award-winning director Steven Spielberg as creative consultant, Universal’s theme parks are known for immersive experiences that feature some of the world’s most technologically advanced entertainment-based attractions.