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Comcast

This article is about the media conglomerate. For the internet service provider previously branded as Comcast, see Xfinity.

Comcast Corporation
Formerly
  • American Cable Systems (1963–1968)
  • Comcast Holdings (1968–2000)
Company typePublic
Industry
FoundedJune 28, 1963 (1963-06-28)
Tupelo, Mississippi, U.S.
FounderRalph J. Roberts
HeadquartersComcast Center,
Philadelphia, Pennsylvania
,
U.S.
Area served
Worldwide
Key people
Products
RevenueIncrease US$121.6 billion (2023)
Increase US$23.31 billion (2023)
Increase US$15.11 billion (2023)
Total assetsIncrease US$264.8 billion (2023)
Total equityIncrease US$83.23 billion (2023)
OwnerBrian L. Roberts (1% equity interest, 33% voting power)
Number of employees
186,000 (2023)
Divisions
Subsidiaries
ASN
Websitecorporate.comcast.com
Footnotes / references
[1][2][3][4][5][6][7]

Comcast Corporation (simply known as Comcast, and formerly known as American Cable Systems and Comcast Holdings),[note 1] incorporated and headquartered in Philadelphia, is an American multinational telecommunications and media conglomerate.[8] The corporation is the second-largest broadcasting and cable television company in the world by revenue (behind AT&T). It is the third-largest pay-TV company, the second-largest cable TV company by subscribers, and the largest home Internet service provider in the United States. In 2023, the company was ranked 51st in the Forbes Global 2000.[9] Comcast is additionally the nation's third-largest home telephone service provider. It provides services to U.S. residential and commercial customers in 40 states and the District of Columbia.[10] As the owner of the international media company NBCUniversal since 2011, Comcast is also a high-volume producer of feature films for theatrical exhibition and television programming, and a theme park operator. It is the world's third-largest telecommunications company by revenue.

Comcast owns and operates the Xfinity residential cable communications business segment and division; Comcast Business, a commercial services provider; and Xfinity Mobile, an MVNO of Verizon. Through NBCUniversal, it also owns and operates over-the-air national broadcast network channels such as NBC, Telemundo, TeleXitos, and Cozi TV; multiple cable-only channels such as MSNBC, CNBC, USA Network, Syfy, Oxygen, Bravo, and E!; the film studio Universal Pictures; the VOD streaming service Peacock; animation studios DreamWorks Animation, Illumination, and Universal Animation Studios; and Universal Destinations & Experiences. It also has significant holdings in digital distribution, such as thePlatform, which it acquired in 2006; and ad-tech company FreeWheel, which it acquired in 2014. Since October 2018, it has also been the parent company of Sky Group.[11]

Comcast has been criticized and put under intense public scrutiny for a variety of reasons. Its customer satisfaction ratings were among the lowest in the cable industry during the years 2008–2010.[12][13] It has violated net neutrality practices in the past, and, despite its commitment to a narrow definition of net neutrality,[14] critics advocate a definition that precludes any distinction between Comcast's private network services and the rest of the Internet.[15] Critics also point out a lack of competition in the vast majority of Comcast's service areas; in particular, the limited competition among cable providers.[16] Given its negotiating power as a large ISP, some suspect that it could leverage paid peering agreements to unfairly influence end-user connection speeds. Its ownership of both content production (in NBCUniversal) and distribution (as an ISP) has raised antitrust concerns. These issues and others led to Comcast being dubbed "The Worst Company in America" by The Consumerist in 2010 and 2014.[17][18]

  1. ^ "Comcast bids for Disney". Retrieved November 5, 2016.
  2. ^ "CMCSK:US". Bloomberg News. Retrieved November 5, 2016.
  3. ^ "Archived copy". Archived from the original on July 18, 2018. Retrieved November 28, 2018.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ^ "Archived copy" (PDF). update.comcast.com. Archived from the original (PDF) on September 6, 2019. Retrieved January 17, 2022.{{cite web}}: CS1 maint: archived copy as title (link)
  5. ^ IfM – Comcast/NBCUniversal, LLC. Institute of Media and Communications Policy Mediadb.eu (undated). Retrieved on June 11, 2015.
  6. ^ "People: Comcast Corp (CMCSA.OQ)". Reuters. Retrieved February 22, 2014.
  7. ^ "Comcast Corporation 2023 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. January 31, 2024.
  8. ^ "The Big 6 Media Companies". Retrieved August 7, 2022.
  9. ^ "The Global 2000 2023". Forbes. Archived from the original on January 29, 2024. Retrieved February 7, 2024.
  10. ^ Comcast 2008 Form 10-K Archived April 21, 2017, at the Wayback Machine, files.shareholder.com
  11. ^ Baccardax, Martin (October 25, 2018). "Comcast Tops Q3 Earnings Forecast After $40 Billion Sky Deal". TheStreet.
  12. ^ Consumerist (April 26, 2010). "Comcast Is Crowned Consumerist.Com's 2010 'Worst Company in America'" (Press release). PR Newswire. Retrieved March 31, 2014.
  13. ^ J.D. Power Releases 2008 Residential Television Service Satisfaction Survey. News.ecoustics.com. Retrieved on July 8, 2011.
  14. ^ Dara Kerr (March 20, 2014). "Netflix's Hastings makes the case for Net neutrality". Cnet. Retrieved March 31, 2014.
  15. ^ Modine, Austin. (January 21, 2009) "FCC fingers Comcast VoIP favoritism". TheRegister.co.uk. Retrieved on July 8, 2011.
  16. ^ Michael Hiltzik (August 23, 2013). "Cable monopolies hurt consumers and the nation". Los Angeles Times. Retrieved March 31, 2014.
  17. ^ "Congratulations to Comcast, Your 2014 Worst Company in America!". Consumerist. April 8, 2013. Retrieved January 16, 2015.
  18. ^ Paramore, Lynn Stuart (August 30, 2013). "Why Comcast is the Worst Company in America". Salon. Retrieved January 15, 2015.


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