Comcast 3Q16 Earnings Call Notes

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Comcast (CMCSA) Q3 2016 Results
Brian Roberts

NFL is facing tough ratings comps

“by the way, the NFL, we had an extraordinary season last year, which everybody’s comparing to. We’re actually down versus last year, but down much less versus two years ago. I think it’s very difficult to tell precisely what’s happening on any sporting property, particularly in the case of the NFL because it’s only been a half a dozen weeks. I do think there are a lot of different things that people are using to consuming on the Internet and spending their time on.”

Stephen B. Burke – Comcast Corp.

Advertising market remains strong

So let me just start by saying the advertising market remains very strong. Scatter is as strong as it’s been really in a long time, and that’s a continuation. Really, we’ve had quarter-after-quarter of very strong scatter, and we had a super strong upfront in May.

A lot of work to do to improve audience membership for advertisers

“Well, I don’t think the industry is anywhere near where it needs to be in terms of monetization, and we were talking about the Olympics as a perfect example. Something like 100 million Americans consumed at least part of the Olympics online. It was a huge, huge phenomenon on Snapchat and Facebook and other places. And the inability for us to articulately walk in to an advertiser and talk about all that consumption in an aggregated way is a real problem. And it’s a problem that obviously is going to get solved, but the progress is not as great as it should be. I think what everybody wants is pretty obvious. They want to know what is the total audience delivery of a television show wherever it gets consumed, and they want it to be done by a third party in a way that is objective and quantifiable, and that’s what we’re all working to. I think the world is moving toward C7 from C3. I think the world is moving toward measuring alternative vehicles. And I think most advertisers understand when they buy a hit property, they’re going to get a lot of consumption elsewhere and they sort of factor that in to the effectiveness intellectually, but you’d certainly love for it to be done in a quantifiable way by an unbiased third party and we’re not making enough progress on that.”