To be clear, Universal never owned the Harry Potter intellectual property; the rights to the books and films are owned by Warner Bros. Discovery (and author J.K. Rowling). Universal Destinations & Experiences holds a long-term licensing agreement that allows them to use the "Wizarding World" brand and characters in their theme parks. In 2026, this partnership is stronger than ever. Universal continues to operate the highly successful Harry Potter lands in Orlando, Hollywood, Osaka, and Beijing. Furthermore, Universal is set to expand this partnership with the opening of a massive new Harry Potter-themed land at their upcoming Epic Universe park, which will feature a highly immersive "Ministry of Magic" experience. Warner Bros. continues to manage the broader franchise, including the "Making of Harry Potter" studio tours and the upcoming HBO television series, while Universal serves as the primary global partner for physical theme park immersion and retail experiences.