Every Time Someone Buys A Ticket To A Universal Theme Park, Steven Spielberg Makes $2.38 (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, contrary to what you might assume, movie royalties are not the only source of income for Mr. Spielberg. In fact, one of his most lucrative revenue streams comes from something you'd never guess.

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 was a closely held secret until a 2009 financial filing revealed its staggering implications.

That deal has already paid him hundreds of millions of dollars. And because it was written to last "in perpetuity," it could ultimately result in a staggering 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, Steven 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 pulling out all the stops to poach Spielberg. Time Warner's honcho, 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, so MCA president Sid Sheinberg, Spielberg's longtime mentor, conjured up a creative solution.

Sheinberg offered Spielberg a consulting contract tied to the company's soon-to-open Orlando theme park. 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.

Mind you, when this contract was signed in 1987, the terms only applied to Universal Studios Florida, which opened in 1990.

Also note that the deal was struck "in perpetuity." As in, 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)

The Buyout Clause That Revealed The Deal

For about two decades, details of this arrangement were not known outside of a tight group of lawyers. It first became public in 2009 thanks to a very subtle footnote in a financial disclosure.

In the wake of the financial crisis, Universal, like many companies, was thrust into a potentially precarious financial position. To navigate these financial straights, the company was eager to refinance around $1 billion worth of debt it was carrying. Unfortunately, their timing could not have been worse, thanks to a special clause in Spielberg's deal that was about to kick in.

A footnote in the documents sent to prospective financial institutions revealed these two tidbits:

1. Spielberg's 2% "consulting fees" amounted to $30 million per year in recent years.
2. Starting in 2010, he had the right to trigger a buyout. If triggered, that would mean Universal would be forced to pay him a huge lump sum of money based on the total value of his future payments.

The buyout price in 2009, based on $30 million in annual payments, would have been $300-500 million.

Universal was desperate to get Steven to agree to hold off on triggering the buyout. His response? He went on vacation and stopped answering their calls.

When he returned, with all the leverage and time on his side, he agreed to delay the buyout option until 2017. But he didn't do that out of the good of his heart.

In exchange for agreeing to the delay, Spielberg's royalty rights were expanded to include all 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.

Which it did!

In 2011, Comcast acquired control of NBCUniversal. Comcast inherited Spielberg's contract.

By 2017, when his buyout option kicked back in, Spielberg's annual "consulting fee" had grown to $50 million. So the buyout fee had also grown to a minimum of $1 billion, perhaps closer to $2 billion. But he has not triggered it yet!

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, continues to get paid.

Legacy of the Deal

I just looked up the price of a ticket to Universal Studios. A single ticket costs around $119 before taxes and fees. So let's just use that number. That means, every time someone buys a ticket to a Universal theme park around the world, Steven gets around $2.38.

Multiply that by around 25 million tickets sold annually, and you see how his "consulting fee" adds up to $50 million per year. Oh, and don't forget! He ALSO gets a cut of concessions! It's not unreasonable to assume he's making $60-70 million per year off this "consulting fee." And that lasts forever.

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!