Comcast CFO Mike Cavanagh is bullish on 2Q prospects: “We expect healthy growth in distribution revenue to continue. We will have significantly more sporting events compared to last year, which should result in higher advertising revenue, but also a significant increase in sports-related programming and production costs.”
NBCUniversal’s streaming service Peacock had 42 million signups in the first quarter — up from the 33 million it reported three months ago — benefiting from the recent addition of exclusive domestic streaming rights to WWE Network and The Office. Parent Comcast also posted a huge earnings beat with EPS of $0.71 — up 54% from the year earlier, on revenue of $27.5 billion, up 2.5%.
Comcast also disclosed $32.7 million in 2020 compensation for its chairman and CEO Brian Roberts.
The conglomerates, whose biggest financial contributors are telecom assets, continue to bet on the benefits of owning content and distribution businesses, but “pure-play” companies have gained investor favor.
Wells Fargo Securities media analyst Steven Cahall initiated coverage of the cable distribution sector on Tuesday, citing the businesses’ strength in broadband service, but joining the growing chorus of analysts calling for Comcast to spin off its NBCUniversal programming unit. Cahall, who already covers cable programmers, initiated the sector with an “overweight” rating on Cable One and Charter; “equal weight” for Altice USA and “underweight” for Comcast.
NBCUniversal has unveiled its inaugural speaker lineup and event themes for ONE21, what it calls “a first-of-its-kind global gathering that will redefine what it means to develop and build with the leading media companies. ONE21 will bring together a massive community of developers across all industries — from technologists to creators and more — to […]
Comcast’s Flex service, initially derided by some critics as a puzzling product without a clear market, is making a big difference in reducing churn on the company’s “center-of-the-plate” offering, Xfinity Broadband, said CFO Mike Cavanaugh Thursday. Xfinity Flex is a streaming device that puts multiple streaming apps in one place on the screen.
Comcast’s new streaming service Peacock lost $914 million in 2020, including intra-company charges, the company disclosed in a Securities and Exchange Commission filing Monday. Peacock, which launched on April 15, generated $118 million for the year, according to the filing. Comcast made the filing because it is changing the way it is accounting for some of its businesses.
Comcast on Friday reported that it owns a 9.3% stake worth more than $300 million in FuboTV, which operates a sports-focused virtual MVPD and is getting into the sports betting business. AMC Networks, reported earlier this week that it no longer owned any FuboTV shares.
Comcast has announced that it will remove eight local TV channels that it said in December it would keep after saying in November it would drop them.
Even without the expected boost from carrying Olympics coverage, Peacock remains well ahead of internal projections and hit 33 million signups this week. Fourth quarter broadcast revenues were down 12% to $2.78 billion, partially offset by double-digit increases in retransmission consent fees.
Comcast Corp on Thursday reported better than expected fourth-quarter revenue, as broadband demand continued to offset pandemic-related weakness in its theme park and filmed entertainment businesses. The media company gained 538,000 broadband subscribers in the quarter, beating analysts’ average estimate of 488,000 net additions, according to research firm FactSet.
Comcast, AT&T, Hallmark and Facebook are joining the list of companies that are rearranging their political contributions and business relationships to distance themselves from President Trump and the G.O.P. the week after supporters of the president rioted at the U.S. Capitol.
Comcast has reached an agreement with local broadcasters to continue carrying 35 local channels in 38 different markets which the cable operator said last month would be dropped on Dec. 22.
Comcast said it has quietly reached a retransmission consent agreement with Hearst TV stations across the country, including continued carriage of about 35 out-of-market stations in 38 markets that were originally expected to be dropped when the current deal expires on Dec. 31. Terms of the deal were not disclosed.
Seven stations in the market are working together with Comcast to test how
NextGen TV signals could best be transmitted by cable TV systems.
The FCC has granted Cox and Comcast petitions for “effective competition” determinations in a number of Massachusetts counties, citing over-the-top service AT&T Now as the effective competitor.
Comcast last month posted a notice on its website that 35 local channels in 38 different markets would be dropped on Dec. 22. However, the cable operator has updated the message to say the 35 channels “may” be removed, and that it’s now negotiating with the stations’ owner, Hearst Communications, to keep them.
Four Massachusetts legislators have called on Comcast CEO Brian Roberts and Hearst President Jordan Wertlieb to negotiate in good faith and resolve their carriage dispute so that ABC affiliate WCVB Boston stays on Comcast’s system serving Bristol County, Mass., residents.
Comcast executive and longtime Philadelphia political power player David L. Cohen is hoping to join President-elect Joe Biden’s administration as either commerce secretary or a high-profile ambassador, according to former Pennsylvania Gov. Ed Rendell.
NBCUniversal is using FreeWheel’s AutoScheduler technology to automate and optimize linear ad decisioning across all NBCU properties.
A federal judge partially accepts a complaint from Stan Kroenke’s Altitude Sports over a negotiating impasse with Comcast over a regional sports network.
“It is time for both AT&T and Comcast to abandon the fool’s gold of vertical integration of content and distribution and merge NBCUniversal with WarnerMedia,” LightShedPartners analyst Richard Greenfield argued last week. Will this vision actually become reality? “We doubt it,” he adds.
In those markets, Comcast now provides more than one affiliate for at least one network. The reason for the dual coverage is that some residents have interest in news from both areas because they live roughly the same distance from each. (The 38 markets are largely in rural/suburban areas.) However, Comcast has had to pay the owners of both stations to deliver their signals. And with pay TV operators looking to cut programming costs, the cable operator has decided to jettison one of the two affiliates in the 38 markets.
New TiVo parent company Xperi Holdings reaches a retroactive IP licensing deal with the cable giant that runs from 2016 to 2031.
Under the terms the companies are discussing, retail giant Walmart would promote TV sets running Comcast software, and would get a share of recurring revenue from Comcast in return.
Broadcast television revenue increased 8.3%, driven by 66% growth in content licensing sales and continued growth in retransmission consent fees, partially offset by a decline in advertising. In addition, new streamer Peacock has been running well ahead of its targets, surpassing 22 million users during the third quarter.
Consumer demand for high-speed internet surged last quarter at NBCUniversal parent Comcast even as theme park revenue plunged 80% in a mixed earnings report that reflected the ongoing pandemic. Peacock sign-ups hit 22 million, exceeding every internal engagement metric for the new streaming service — even without the Olympics or The Office — the company said Thursday. Revenue at NBCUniversal fell about 19% to $6.7 billion in quarter.
Comcast may be under pressure to split up its cable and media businesses and one analyst says that such a move could unlock value for both assets. Trian Fund Management has taken a stake in Comcast and begun conversations with executives under the assumption that the company’s stock is undervalued.
Roku, a major streaming gatekeeper, has reached an impasse with NBCUniversal over its nascent Peacock service and a swath of NBCU apps is about to go dark as a result. As soon as overnight Friday into Saturday, 11 national “TV Everywhere” apps, which are available to pay-TV subscribers, will disappear due to the dispute. Dozens of other local apps from NBC and Telemundo stations, which are available only to Roku viewers in those local markets, are also hanging in the balance.