Comcast
Comcast Corporation (simply known as Comcast, and formerly known as American Cable Systems and Comcast Holdings, stylized in all caps as COMCAST), incorporated and headquartered in Philadelphia, is the largest American multinational telecommunications and media conglomerate. 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. 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. 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.
Logo used since January 11, 2024 | |
Comcast Center, the company's headquarters in Philadelphia | |
Comcast | |
Formerly |
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Company type | Public |
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Industry | |
Founded | June 28, 1963 Tupelo, Mississippi, U.S. |
Founder | Ralph J. Roberts |
Headquarters | Comcast Center, , U.S. |
Area served | Worldwide |
Key people |
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Revenue | US$121.6 billion (2023) |
US$23.31 billion (2023) | |
US$15.11 billion (2023) | |
Total assets | US$264.8 billion (2023) |
Total equity | US$83.23 billion (2023) |
Owner | Brian L. Roberts (1% equity interest, 33% voting power) |
Number of employees | 186,000 (2023) |
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Subsidiaries |
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ASN | |
Website | corporate |
Footnotes / references |
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.
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 2008โ2010. It has violated net neutrality practices in the past, and, despite its commitment to a narrow definition of net neutrality, critics advocate a definition that precludes any distinction between Comcast's private network services and the rest of the Internet. 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. 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.
1912 | Universal Pictures is founded |
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1926 | NBC is founded |
1953 | NBC begins first compatible color broadcasts, preceding other networks by nine years |
1956 | NBC's peacock logo debuts |
1963 | American Cable Systems is founded |
1967 | NBC broadcasts the first-ever Super Bowl |
1968 | American Cable Systems rebrands to Comcast |
1975 | Universal releases Jaws |
1982 | Universal releases E.T. The Extra Terrestrial |
1972 | Comcast began trading on the New York Stock Exchange (NYSE) |
1985 | Universal's Back to the Future premieres |
1986 | General Electric buys NBC for $6.4 billion |
1989 | NBC launches CNBC |
1990 | Universal Studios Florida opens |
1993 | Universal's Jurassic Park premieres |
1996 | NBC and Microsoft launch MSNBC |
1999 | Universal Studios Florida expands to become Universal Orlando Resort |
2001 | Grand opening of Universal Studios Japan and Universal's The Fast and the Furious premieres |
2002 | NBC acquires Telemundo and Bravo Focus Features is formed Comcast acquires AT&T Broadband for $44.5 billion |
2003 | Universal becomes the first studio with five summer releases breaking the $100 million mark |
2004 | GE and Vivendi merge NBC and Universal into NBCUniversal |
2005 | Comcast and Time Warner Cable acquire Adelphia Cable assets for $17.6 billion |
2006 | USA Network begins 13-year streak as #1 cable network in total viewers |
2007 | Illumination Entertainment is founded |
2010 | Illumination's Despicable Me premieres |
2011 | Vivendi divested in NBCU; Comcast buys 51% of NBCU from GE, turning it into a limited liability company |
2013 | Comcast buys GE's remaining 49% of NBCU |
2014 | Comcast attempts to acquire Time Warner Cable for $45.2 billion NBCUniversal reaches a new long-term deal with WWE |
2016 | NBCU acquires DreamWorks Animation |
2018 | Comcast acquires Sky |
2020 | NBCU launches Peacook |