The new division is under Universal Parks & Resorts. | Source: Universal Products & Experiences/The Toy Book

In what CEO and Chairman Mark Woodbury is calling the creation of a “powerhouse division,” Universal Parks & Resorts and Universal Parks & Resorts Merchandise Group are coming together to form the new Universal Products & Experiences.

Universal Brand Development was focused on the expansion of franchises. The company developed products, games, and other items for the media put out by Universal Pictures. Universal Parks & Resorts Merchandise Group was associated with Universal Parks & Resort’s parks — the U.S. parks being Universal Orlando Resort and Universal Studios Hollywood. 

UP&E will focus on new initiatives in the world of merchandise and other interactive experiences, with a push for new toys, collectibles, books, apparel, video games, and digital initiatives. Vince Klaseus, Universal Brand Development President Vince Klaseus will lead the new division, reporting to Mark Woodbury. 

Vince Klaseus will lead Universal Products & Experiences. | Source: Universal Products & Experiences

“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,” Vince Klaseus said in a statement. “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.”

UP&E will have three lines of business: Consumer Products, Games and Digital Platforms, and Theme Parks Products & Retail. It is under Universal Parks & Resorts, which is a part of NBCUniversal.