×
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.

 

 

 

 

More TV

  • Alfonso Cuaron71st Annual Writers Guild Awards,

    Alfonso Cuarón on Academy's 'Inevitable' Reversal on Televised Oscar Categories

    Alfonso Cuarón isn’t exactly surprised that the Academy reversed its decision and will now air all the Oscar categories during the live show on Sunday. Feb. 24. Calling the decision “inevitable,”Cuarón tells Variety that he thinks the Academy should take things even further. “Let’s stop calling them technical categories!” he told Variety on Sunday night [...]

  • Desus Nice The Kid Mero

    TV Shows to Watch the Week of Feb. 18, 2019: Academy Awards, 'Desus & Mero'

    Welcome back to Tune In: our weekly newsletter offering a guide to the best of the week’s TV. Each week, Variety’s TV team combs through the week’s schedule, selecting our picks of what to watch and when/how to watch them. This week, the Academy Awards air and Desus & Mero make their debut on Showtime. [...]

  • WARNING: Embargoed for publication until 00:00:01

    BBC Takes Stake in New Company Set Up by ‘Luther,’ ‘Bodyguard’ Exec

    BBC Studios has taken a minority stake in Firebird Pictures, the new drama indie being set up by BBC execs Elizabeth Kilgarriff and Craig Holleworth. Kilgarriff’s credits include “Luther,” “Poldark,” “McMafia” and upcoming Richard Gere-starrer “MotherFatherSon.” She commissioned breakout drama hit “Bodyguard.” Holleworth will be the new company’s COO, having run business and operations for [...]

  • Punisher Jessica Jones

    Marvel's 'The Punisher,' 'Jessica Jones' Canceled at Netflix

    The last of Netflix’s Marvel shows are officially ending. “The Punisher” has been canceled after its second season, and the upcoming third season of “Jessica Jones” will be its last, Netflix confirmed on Monday. The announcement comes after Netflix gave the ax to its other Marvel series: “Daredevil,” “Iron First,” and “Luke Cage.” “Marvel’s ‘The Punisher’ will [...]

  • SND Boards Comedy Series 'Family Shake'

    SND Boards Comedy Series 'Family Shake' With 'Desperate Parents' Producer

    SND, the commercial arm of the French TV network M6, has acquired worldwide distribution rights to “Family Shake,” a comedy series written by Baya Kasmi and Michel Leclerc. SND is the latest vertically integrated French film group to start handling live-action series, following TF1 Studio, Studiocanal and Gaumont, among others. Produced by Gaëlle Cholet at [...]

  • 'Super Shiro' Anime Series Inspired by

    'Super Shiro' Anime Series Inspired by 'Crayon Shin-chan'

    The enduringly popular Japanese cartoon franchise “Crayon Shin-chan” has inspired a new animated TV series, “Super Shiro.” “Crayon Shin-chan” has been on air since 1992 and inspired 26 feature films. “Super Shiro” is a fast-paced chase series, for kids, based on original IP by Yoshito Usui and scripted by on Kimiko Ueno.  The series is [...]

  • Us Television Writers and Producers Maria

    ‘Mad Men’s’ Andre, Maria Jacquemetton Set for Series Mania’s UGC Writers Campus

    MADRID — André and Maria Jacquemetton, the Emmy and WGA Award-winning writer-producers of AMC’s “Mad Men” and consulting producers on Amazon Studios’ “The Romanoffs,” will serve as Guests of Honor at Series Mania’s UGC Writers Campus, a workshop whose participants include Denmark’s Christina Miller-Harris and Israel’s Noy Carmel. The Jacquemettons will deliver a masterclass and [...]

More From Our Brands

Access exclusive content