Comcast is America's leading cable television operator, now under the Xfinity brand, and also one of the world's biggest media owners following the acquisition of NBC Universal. That deal followed several earlier attempts to build a content offering, initially through the bolt-on of its own portfolio of cable channels. An ambitious bid to acquire Walt Disney in 2004 failed, but five years later the group entered talks with General Electric to acquire majority control of the latter's NBC Universal subsidiary. A deal was agreed at the end of 2009, and was finally cleared by regulators at the beginning of 2011, giving Comcast management control of one of America's most famous TV networks as well as a major movie studio and several entertainment parks. Despite NBC Universal's continuing challenges, the group bought out GE's remaining stake in NBCU in 2013, more than a year earlier than expected, and it wasn't long before Comcast was back on the acquisition trail. In 2014, it attempted to buy smaller rival Time Warner Cable for $45bn in a deal that would have merged the #1 and #2 cable networks in the US. Despite more than a year of negotiations with regulators, the deal was eventually abandoned after it was referred by the FCC to an administrative hearing. In 2018, Comcast intervened in a plan by 21st Century Fox to sell the bulk of its entainment assets to Walt Disney. After several months of wrangling, Comcast withdrew from the main contest to focus its efforts on acquiring Fox-controlled satellite broadcaster Sky. It was finally victorious with a bid of around $39bn, giving it a major presence in pay TV across Europe. With US cable subscriber numbers in steady decline, the group launched its first fully OTT streaming service, Peacock (after the iconic NBC logo mascot), in 2020. It also markets a mobile service in the US under the Xfinity banner, but subscriber numbers are still small, just 2.8m. At the end of 2021, Xfinity served 18.2m residential and business US cable TV customers, mostly in the Northeast and Southeast, with additional coverage in the Pacific Northwest, parts of California and selected other cities. It had 31.9m highspeed internet customers. Group revenues topped $100bn for the first time in 2019, reaching $116.4bn in 2021. Net income was $13.8bn. Cable communications in the US remains its biggest revenue stream overall at $64.3bn. The business was originally founded in 1963 as American Cable Systems. It adopted the Comcast name in 1969. Brian Roberts, son of one of the original group's three founder investors, is chairman & CEO.
Capsule checked 20th July 2021
Adbrands Account Assignments tracks account management for the world's leading brands and companies, including details of which advertising agency handles which accounts in which countries for major markets.
Account assignments & selected contact information
Which agencies handle advertising for Comcast? Find out more from the Account Assignments database
Marketing decisionmakers for Comcast? Find out more from the Account Assignments database
Advertising expenditure for Comcast? See ranking of Declared Advertising Costs
Who are the competitors of Comcast? Comcast's main competitors are traditional pay networks such as Charter, DISH and Cox, as well as larger telecommunications companies such as Verizon and AT&T (now including DirecTV), which have expanded into video broadcast. A newer threat comes from "over the top" streaming services such as Netflix, Amazon Prime, and new services from Disney and AT&T, but these at least make use of Comcast's broadband network. See Media Sector for other companies.
Historical profile information for Comcast
Adbrands Daily Update 20th Oct 2021: Comcast is following in the footsteps of its European subsidiary Sky with the launch of its own flat screen smart TV. The product was developed and first introduced earlier this month by the UK division of Sky under the name Sky Glass. A similar product is being launched in the US as XClass TV. Unlike Sky Glass it doesn't have the Sky service built-in; rather an initial 12-month subscription to NBC Universal's Peacock streaming service.
Adbrands Daily Update 17th Sep 2019: Comcast confirmed more details of its hotly anticipated streaming channel. The service will launch in the US in April next year - just before the Olympics, to which the group's NBC network has broadcast rights - under the name Peacock, a nod to NBC's celebrated logo. It will offer original programming as well as exclusive rights to hit NBC shows including 'The Office' and 'Parks & Recreation'. At launch it will offer around 15,000 hours of content, as well as live news and sport. Comcast is expected to make Peacock available for free, at least initially, to all 21m of its existing US cable customers, and is seeking similar arrangements with rival cable companies such as Charter and Cox. Other users will pay a monthly fee.
Adbrands Daily Update 15th May 2019: Comcast agreed to transfer full operational control of Hulu to Disney in return for a five-year partnership agreement running until Jan 2024. The two sides will divide WarnerMedia's recently reacquired 10% stake between them, lifting the equity split in Hulu to Disney 66% / Comcast 33%. Comcast will continue to license NBCU content to the platform during that period, and will also carry Hulu on its Xfinity service. In 2024, a reciprocal put/call option comes into effect whereby either side can force the transfer of Comcast's remaining stake to Disney for a minimum valuation of $9bn. That figure could go higher, subject to an independent valuation of Hulu. NBCU CEO Steve Burke called the deal "a perfect outcome for us... the extension of the content-licensing agreement will generate significant cash flow for us, while giving us maximum flexibility to program and distribute to our own direct-to-consumer platform."
Adbrands Daily Update 26th Apr 2019: Comcast was reported by CNBC to be talks to sell its 30% shareholding in streaming platform Hulu to majority owner Disney. The House of Mouse now had 60% of that service following its acquisition of Fox, and the remaining 10% was recently reacquired by Hulu itself from AT&T/WarnerMedia. The latter deal valued Hulu at around $15bn, so Comcast's stake would be worth around $4.5bn. Comcast CEO Brian Roberts declined to be drawn on the reports in an interview, telling CNBC, "We have no new news today on [Hulu], other than it's really valuable. And we're really glad we own a large piece of it."
Adbrands Daily Update 15th Jan 2019: Comcast is the latest media owner to announce plans for its own dedicated streaming service. Fighting back against Disney's planned entertainment stream which launches this year, Comcast said it will debut its own equivalent offer in 2020, using content from its NBCUniversal content division as well as bought in or commissioned material. It said the service would be available free to subscribers of Comcast cable in the US or Sky in Europe, and possibly also to the customers of other US cable providers. Its goal is to maximise audience in order to maximise ad revenues. The channel will be headed by Bonnie Hammer, now NBCU's chairman of direct-to-consumer & digital enterprises.
All rights reserved © Mind Advertising Ltd 1998-2022