×
You will be redirected back to your article in seconds

Comcast Will Launch NBCU Streaming Service in First Half of 2020

Comcast Corp. said fourth-quarter profit declined owing to comparisons with a year-earlier period that enjoyed a sizable tax benefit, even as revenue at both its main operating divisions increased. And the company unveiled more details about an ad-supported streaming service it intends to unveil next year.

The Philadelphia-owned of Comcast cable operations and the NBCUniversal entertainment conglomerate said net income in the fourth quarter came to $2.51 billion, or 55 cents a share, compared with $15 billion, or $3.17 cents a share in the year-earlier quarter, when results included one-time tax benefit. Excluding the one-time item, Comcast’s fourth-quarter earnings increased 36%, to 64 cents per share.

Revenue rose 5.2% $28.3 billion, the company said, including the effects of its recent acquisition of satellite broadcaster Sky PLC.

“We truly became a global company with our acquisition of Sky, and are excited about its future and the potential of our combined company in 2019 and beyond,” said Comcast CEO Brian Roberts in a prepared statement.

Revenue from cable operations rose 5.2% to $14.1 billion, the company said,owing to increases in most areas of operation, offset by a 1.6% decrease in revenue from residential video customers. Comcast said its total customer relationships increased to 30.3 million in the quarter, an increase of 258,000 from the year-earlier period.

Meanwhile, revenue at NBCUniversal rose 7.1% to $9.4 billion, owing to increased results at the unit’s broadcast and cable networks. Comcast said revenue at NBCU’s cable networks rose 8.9%, to $2.9 billion in the fourth quarter of 2018, owing to increases in revenue from distribution and content licensing. Revenue from broadcast TV rose 3.7% to $3.1 billion, owing to increases in revenue from distribution and advertising. Revenue from filmed entertainment rose 14% to $2 billion, largely due to results from the films “Dr. Seuss’ The Grinch” and “Halloween.” Revenue at the company’s theme parks rose 3.5% to $1.5 billion owing to higher attendance.

During a conference call with investors Wednesday, Comcast executives offered more detail on a free, ad-supported streaming-video service the company expects to launch in the first half of 2020. The service is expected to include current and past seasons of shows seen on NBCU networks as well as some original content, executives said, along with what NBCU CEO Steve Burke called “a very light ad load” with potential for interactive digital advertising.

 

 

 

 

Popular on Variety

More TV

  • Hailee SteinfeldTribeca TV Festival 2019 Presents

    Hailee Steinfeld Announces New Single Tied to Apple TV Plus' 'Dickinson'

    Actress, singer and producer Hailee Steinfeld is set to release a new single entitled “Afterlife” on Sept. 19, a track she created for her upcoming Apple TV Plus series,”Dickinson.” “This is a song I’m incredibly proud of, and I feel like after embodying this character, I have a more fearless approach to my writing,” Steinfeld [...]

  • Rachel Bloom

    Rachel Bloom Announces Pregnancy After Emmy Win

    “Crazy Ex-Girlfriend” star Rachel Bloom made a special announcement after winning her Emmy for best original music and lyrics — she is pregnant. Bloom announced the news backstage on Saturday at the Creative Arts Emmy Awards. She joked she had planned to reveal the news on Instagram but that doing it at the Emmys was even [...]

  • EVIL is a psychological mystery that

    TV Review: 'Evil'

    In its pilot installment, CBS’s new drama “Evil” delves into that which may lie beyond the rationally explicable. And the show itself represents something almost supernatural by 2019 standards, too: A well-made hour fueled by chemistry between its leads and a strong idea of itself. On the basis of its debut outing, which screened at [...]

  • Emmy Awards Placeholder

    Creative Arts Emmys: 'Free Solo,' 'Queer Eye' Among Big Winners on Night 1 (Full List)

    “Free Solo,” “Queer Eye,” “RuPaul’s Drag Race” and “Saturday Night Live” were among the big winners Saturday after the first night of the Creative Arts Emmy Awards at the Microsoft Theater in downtown Los Angeles. “Free Solo,” the National Geographic feature documentary that already claimed the Oscar earlier this year, lead the field on the [...]

  • Gary Cole, Christina Anthony, Tika Sumpter,

    'Mixed-ish' Team on Why 'All Stories About "Others" Are Necessary'

    The producers and cast of “Mixed-ish” are not out to tell a singular black and white story — but one that showcases and celebrates all shades in between. “It’s important for me across the board in all of my work to talk about ‘otherness’ and identity and real, grounded characters,” showrunner Karin Gist told Variety [...]

  • Shane Gillis

    Comedians Condemn Shane Gillis Over Slurs

    “Saturday Night Live” showrunner Lorne Michaels has yet to comment on the racist and homophobic remarks made by newly hired cast member Shane Gillis, but comedians and actors are expressing their condemnation on social media, some even asking that he be fired from the show.  Footage of Gillis’s podcast, “Matt and Shane’s Secret Podcast,” was [...]

More From Our Brands

Access exclusive content