Broadband Subscriber Losses Show Improvement
While Comcast did experience losses in broadband subscribers, the figures were better than expected. The company lost 34,000 broadband customers in the last quarter, exceeding analyst predictions of 61,000 losses, according to FactSet. Although this number is higher than the 18,000 customers lost in the previous quarter, it aligns with the company’s projection of “somewhat higher” losses during the period.
Comcast’s decline in broadband subscribers is attributed to the growing competition from wireless carriers, such as Verizon and T-Mobile. These companies have been targeting lower-income customers with their broadband services, posing a challenge to Comcast in this segment.
NFL Playoff Game Sets Streaming Record
The NFL playoff game between the Kansas City Chiefs and the Miami Dolphins was a resounding success for Comcast’s streaming services. With an average viewership of 23 million, this event became the most-streamed in the history of the United States. The achievement highlights the growing popularity of streaming platforms and their immense potential for revenue generation.
Growth in Content, Experiences, and Theme Parks
Within Comcast’s portfolio, the content and experiences segment, including NBCUniversal, witnessed a 5.7% rise in revenue to reach $11.5 billion. This growth can be attributed to successful releases like “Oppenheimer,” “Super Mario Bros. Movie,” and “Fast X,” which propelled Comcast’s Universal Pictures to claim the top spot at the worldwide box office for 2023. Notably, this marks the first time since 2015 that Walt Disney was not the leader in this category.
Additionally, Comcast’s theme parks business saw a substantial revenue increase of 12.2% to $2.37 billion. This boost was fueled by strong attendance at parks located in Osaka, Japan, and Hollywood, California.
Dividend Increase
Ending on a positive note, Comcast has announced a dividend increase for its shareholders. The company raised its annualized dividend by $0.08 to $1.24 per share for the year 2024, demonstrating its commitment to delivering value to investors.