Comcast Adds More Cable Subscribers, Profits Improve

The largest U.S. cable operator continued to show gains in video subscribers in its fourth-quarter reporting period -- adding 80,000.

Looking at the full year, the company says it has recorded “the best video customer results in 10 years” -- having 161,000 in net additions. In 2015, there was a net loss of 36,000. Overall for the 2016 year, Comcast now has 22.5 million cable customers.

All this came amid better-than-expected fourth-quarter financial results -- with revenue up 9.2% to $21.0 billion and net profits, 20.4% higher to $2.4 billion.

Comcast added 385,000 broadband customers in the fourth quarter and 44,000 voice customers. Broadband customers now totaling 24.7 million; voice 11.7 million.  

Comcast’s NBCUniversal revenue increased 13.0% to $8.5 billion.

Broadcast business was 14% higher revenue to $2.8 billion. Advertising revenue improved 12.4%, mostly from its NBC’s new “Thursday Night Football” series of games, as well as higher general rate increase and more political advertising.



Cable networks' revenue increased 4.0% to $2.5 billion as a result of higher distribution, content licensing and other, and advertising revenue.

But cable network advertising revenues were virtually flat -- up just 0.6%. There was higher ad prices, but audience ratings declines.

NBC’s filmed entertainment revenue increased 12.6% to $1.8 billion -- which included a full quarter of revenue from its DreamWorks acquisition, completed in late August. In particular content licensing revenue increased 37.5% because of the DreamWorks purchase.

NBC’s theme parks revenue gained 32.1% to $1.3 billion from higher attendance and higher per capita spending, coming from Hollywood’s “The Wizarding World of Harry Potter” attraction.

1 comment about "Comcast Adds More Cable Subscribers, Profits Improve".
Check to receive email when comments are posted.
  1. Ed Papazian from Media Dynamics, January 30, 2017 at 10:50 a.m.

    I wonder how many of these new subs are "Millennials"?

Next story loading loading..