Comcast promised to spend more in program development and other areas to revitalize the NBC network. So far, the spending hasn’t yielded much, but a top Comcast executive said there is no need to increase the level -- just allow time for NBC entertainment chief Bob Greenblatt to craft hits.
“Bob has the ball, and we’ve got to be patient and it’s going to take a while,” said Comcast CFO Michael Angelakis at an investor event. “NBC has been definitely in fourth place for longer than it should be, and we’ve made the investment. I don’t think we have to make anymore investment. It’s more of the creative aspects now.”
Angelakis said NBC’s tough times this fall don’t have Greenblatt’s “stamp on it, so our expectations are modest.”
Separately, he said the national ad market -- which includes NBCUniversal’s slew of cable networks -- remains strong. NBC has the Super Bowl and Olympics next year, which he added have been in high demand.
The network also has “The Voice” coming back, which could provide a prime-time hit taking up many hours.
Comcast now garners about 15% of revenues from advertising, with about a third coming at a local level –- on Comcast systems, at NBCU local stations and regional sports networks. The other two-thirds are from national networks.