Comcast Corporation is a global telecommunications company with two main businesses: NBCUniversal and Comcast Cable.
The services Comcast Cable provides are communications, video and internet provider for individuals and businesses whereas NBCUniversal is a mass media, information, technology and entertainment conglomerate.
The corporation employs a whopping 184,000 employees as of 2019 and has a revenue of 108.9 billion USD, just short of it’s biggest rival, AT&T. No other conglomerates in this sector even come close to these two, not even CBS or News Corp with revenues of 14.51 billion USD and 10.07 billion USD respectively.
History of Comcast
Comcast was founded in 1963 in Tupelo, Mississippi by Ralph Roberts, Julian Brodsky and Daniel Aaron. The company later relocated to Philadelphia where it is headquartered to this day. Its rapid growth was spurred by acquisitions of rival cable systems such as Group W Cable and Storer Communications.
Comcast continued its expansion down other avenues by moving into the sports industry. Comcast sportsnet was created in 1996, which later merged with Home Team Sports. In 2005, Comcast made a massive move in the entertainment industry by acquiring the business, Metro-Goldwyn-Mayer, Inc. In 2011, Comcast acquired 51% of NBCUniversal from General Electric, and bought the remaining stake in 2013.
This strategy of rapid expansion through acquisitions has led to Comcast becoming the most popular cable provider in the United States, one of the top media companies in the United States and a leading telecommunication operator worldwide.
The CEO of Comcast is the son of one of the founders, Ralph Roberts. Brian Roberts has been CEO since 2002, so has been in charge throughout many successful company expansions (including some of the ones mentioned above). Under his leadership, Comcast share price has soared from around $12 per share to $44.50 per share. This has greatly increased the wealth of the Robert’s family who now have a fortune of $1.8 billion according to Forbes.
Comcast Mission Statement Analysis
Comcast’s mission is to create “incredible technology and entertainment that connects millions of people to the moments and experiences that matter most.” It’s able to do this through it’s vast portfolio of subsidiaries such as Universal Pictures, news such as NBC and ways to connect with people online such as Xfinity.
The Comcast mission statement suggests that it is customer-centric company. Which is evident when looking at their ideals of accessibility, contribution and sustainability.
- Accessibility: Comcast want to be accessible to as many people as possible, through its innovation. They give disabled individuals the opportunity to use services that aren’t often provided by other telecommunications companies. For example, Comcast creates incredible technology, specifically for users with impaired vision. Another product is gloves which stimulate diminished dexterity which allow customers with impaired hand functions to use remote controls.
- Contribution: Comcast are keen on involving themselves in developing communities that need financial aid. Provo High School in Utah was beautified thanks to the financial aid given by Comcast, including 20 construction trash dumpsters to aid in the clean up.
- Sustainability: The Leadership in Energy and Environmental Design Platinum certificate has been awarded to Comcast for saving energy, water and waste reduction. There was also a company goal of dedicating 500,000 volunteer hours to improving the environment by 2020.
Comcast Vision Statement Analysis
The vision that Comcast hopes to achieve is to “continue to look to the future – seeking out new communications technology, new opportunities, and more choices”.
This demonstrates that Comcast’s main goal is simply to expand! Innovation, higher revenue and profitability, higher market share and more acquisitions. That is what they have been doing so far, and it’s worked extremely well for them. Why change what works?
Comcast’s Core Values Analysis
Comcast says its core values are “built on integrity and respect—with the goal of working together to drive ourselves and our businesses to always be creative, innovative, and competitive.”
They are guided by an entrepreneurial spirit, doing the right thing and acting with integrity, respecting each other and giving back.
- Entrepreneurial: Comcast are relentless in looking for new ways to adapt and innovate their products to try and provide better customer experience than their rivals every day.
- Integrity: They aim to act in the best way possible and treat customers and employees the right way.
- Respect for each other: Commitment to fairness, inclusion and respect. Comcast believes that all customers, employees and the community should be respected.
- Giving back: As you will have already read in this article, Comcast is known for supporting the local community through donations and volunteering in particular, in an attempt to improve the lives of local people.
What are Comcast’s subsidiaries?
Comcast has many subsidiaries across many industries, meaning the company is able to provide many different services. Some of Comcast’s subsidiaries include Xfinity, Comcast Business, NBCUniversal, Sky, Universal Pictures and DreamWorks.
What is an ISP?
ISP stands for internet services provider. Xfinity is the subsidiary which provides high speed internet connections.
When was Comcast’s Initial Public Offering and what was its price?
Comcast’s IPO was on June 29, 1972. For every dollar that you could have invested at that time, it would now be worth almost $1,500. So if you did a $1,000 investment in 1972, you would make almost $1.5 million. Note this doesn’t even include dividends.
Does Comcast pay dividends to its shareholders?
Yes, Comcast gives a quarterly dividend payment of $0.23 per share. This gives a dividend yield of just over 2%. The dividend has increased every year for the last 12 years, making this business a stable investment for long term investors with low risk.
How can I contact someone at Comcast?
If you need to contact Xfinity in the future, you can chat to them online with the following link: https://www.xfinity.com/support/contact-us
Alternatively, you can call 1-800-Xfinity (800.934.6489).
If you have problems with another Comcast service, you can find the contact information on the subsidiary’s website.