How A "Creative Solution" In 1987 Gave Steven Spielberg The Most Amazingly Lucrative Theme Park Deal Of All Time… In Perpetuity!

Steven Spielberg has directed some of the most iconic films in cinematic history. From "Jaws" and "E.T." to "Jurassic Park" and "Schindler's List," his creative output has shaped generations of moviegoers and helped define the modern blockbuster. His films have generated nearly $30 billion at the global box office. But movie royalties are not the only source of income for Mr. Spielberg. In fact, one of his most amazingly lucrative revenue streams comes anytime someone visits a Universal Studios theme park – anywhere on the planet.

For nearly 40 years, Spielberg has quietly earned tens of millions of dollars annually from Universal's theme parks, thanks to a consulting agreement that is virtually unheard of in Hollywood. The deal pays him a percentage of gross ticket sales, meaning he earns his cut before Universal deducts a single dollar for expenses like staff, maintenance, or marketing.

That one clause has already paid him hundreds of millions of dollars. And because it was written to last forever, in "perpetuity," to use the legalese, it could ultimately result in an enormous payout. Very few people outside of the entertainment or finance world even know this deal exists, but it's one of the smartest and most lucrative contracts in the history of show business.

The Origin of the Deal

In the late 1980s, Spielberg was the crown jewel of Universal. He had already delivered massive hits like "E.T." and "Jaws," and the studio was preparing to build a brand-new theme park in Orlando to compete with Walt Disney World. At the same time, Warner Bros. was trying to poach Spielberg. Time Warner's Steve Ross launched an aggressive campaign to lure him away from the Universal lot.

Universal's parent company at the time, MCA, couldn't match Warner's offer in raw dollars. But MCA president Sid Sheinberg, Spielberg's longtime mentor, came up with a creative solution. He offered Spielberg a consulting contract tied to the Orlando theme park, which hadn't even opened yet. In exchange for remaining Universal's top director and providing creative input on attractions, Spielberg would receive 2% of gross park admissions and a cut of concessions.

The contract, signed in 1987, applied initially to Universal Studios Florida, which opened in 1990. And crucially, it was signed "in perpetuity." That meant Spielberg's revenue share had no expiration date. Over the years, as Universal expanded into Japan (2001), Singapore (2010), and Beijing (2021), Spielberg's deal extended to cover those parks as well. Universal Studios Hollywood was not included, but most major international locations were.

Steven Spielberg and Kate Capshaw in 1991 at Universal Studios (Photo by Ron Galella, Ltd./Ron Galella Collection via Getty Images)

A Unique Kind of Royalty Stream

Spielberg's deal is unlike any other in Hollywood. Rather than licensing specific films or receiving a backend percentage from merchandise, Spielberg earns a royalty for consulting on the overall creative direction of park attractions related to his films. SEC filings confirm this, and his participation even includes video appearances at parks, like his pre-show introduction for "Lights, Camera, Action!" at Universal Studios Singapore.

By 2009, Spielberg was reportedly earning $34 million per year from the Universal parks. In 2010 alone, regulatory filings show he took home $30.2 million. By 2017, his annual payout had surpassed $50 million. This is all passive income, based not on how well any single attraction performs, but on total park admissions and food and beverage sales.

But the most powerful feature of the deal is a clause Spielberg negotiated that gives him the right to cash out. Beginning in June 2010, he had the option to trigger a buyout clause and receive a lump sum equal to the fair market value of all future payments. In 2009, early projections valued the lump sum between $300 and $500 million.

The Buyout Clause and Strategic Delay

Universal, which was partially owned by private equity firm Blackstone at the time, was carrying over $1 billion in debt coming due in 2010. The possibility of Spielberg pulling the trigger on his buyout clause created a serious financial risk. In response, Universal renegotiated the contract in 2009, asking Spielberg to delay his option to 2017.

Spielberg agreed to the delay, and in exchange, his rights were expanded to include new parks under development, such as Universal Studios Singapore and future parks in Dubai and Beijing. He also secured a guarantee that his contract would remain valid even if Universal's ownership changed.

That turned out to be a smart move. In 2011, Comcast acquired control of NBCUniversal and eventually bought out Blackstone's remaining stake. Comcast also inherited Spielberg's contract. When June 2017 arrived, the buyout clause was reportedly worth $535 million. Once again, Spielberg declined the payout and opted to keep collecting his annual royalties.

A Billion-Dollar Decision

By staying in the deal, Spielberg ensured that his income would continue to grow alongside Universal's expansion. In 2025, Universal opened Epic Universe, a third gate at the Orlando resort that features lands based on Nintendo, "How to Train Your Dragon," Universal Monsters, and more. Spielberg, though not involved in every attraction, remains a foundational creative figure behind the overall "ride the movies" philosophy.

In 2024, Spielberg praised the new park, saying:

"Epic is built on an amazing concept. The idea you can go into a world through a portal and come out in a world you could never dream of and experience it. Will feed the imagination of all ages."

Legacy of the Deal

Today, Steven Spielberg's net worth is $10 billion. While blockbuster movies and smart business ventures like Amblin Partners have played major roles, a surprising portion of his fortune can be traced directly to this one 1987 contract.

What was originally a creative consulting role has become one of the smartest and most lucrative deals in the history of entertainment. And unlike most Hollywood stories, this one will pay dividends to the Spielberg family… forever!