Comcast at Bank of America Conference Notes

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Stephen Burke – Chief Executive Officer, NBCUniversal & Senior Executive Vice President, Comcast Corp.

We can get the whole company behind major events

“There is a huge benefit in my opinion dealing part of the same company that has Comcast Cable and that benefit is only realized if you work at it and if you have the right kind of relationships. And Neil Smit and I talk all the time and when we have a major event like watching a new movie or television show or theme parks, we use something that we call Symphony which is basically getting the entire company together to get behind the movie like Pets or new attraction like Harry Potter and we have all of the NBCUniversal channels, plus all of Comcast Cable get behind that and the results are tremendous.”

Hardest thing to do in a digital world is break through the clutter

“The hardest thing to do in a fragmented world where the – where people have almost unlimited options to view is to break through the clutter and have a cultural event that takes the country by storm the way a big movie or television show does. And there’s no doubt in my mind that getting everybody together and creating the right kind of environment and including Comcast Cable and their reach is a real benefit.”

Olympics was a financial success

“The ratings were down, there were whole bunch of different reasons why the ratings were down, some of it was because we put programming at the same time on NBC and Prime Time and on USA, NBC Sports Net, Bravo and other channels, we felt that was important to do because there were times when Michael Phelps would be swimming and the US women’s soccer team would be playing in those were both things that people wanted to see. So by our calculation we think you really have to look at total audience delivery, which would include our cable channels streaming and other digital consumption and by that metric we were down single digits versus a very, very successful Olympics, London was the high water point.”

17 days of olympics is essential for advertisers

“So if you’re an advertiser who has a big brand or who wants to change consumer perception those 17 days of the Olympics are almost invaluable, you almost can’t put a price tag on them. And advertisers love the experience in Rio and all the advertisers we talked to can’t wait to come back in Korea and in Japan for the next two Olympics.”

Bundle is the best consumer value proposition

“Well, and this is my personal view, although I did see a research report that kind of was in the same direction, is that OTT sounds like a better business than in reality it is. I mean, that fact is if you want a decent sized bouquet or bundle of cable channels your programming costs are going to be $40, $50, $60, and if your programming cost are $40, $50, $60 you’re going to have a consumer proposition that’s going to be $40, $50, $60 or more. And if you are a consumer that has cable and you get 200 channels, I’m not sure why huge numbers of people are going to run out and get excited about paying $45 for 25 channels, just doesn’t – from a consumer point of view it doesn’t seem to make sense to me.”

People want a combination of reach of television with targetability of digital

“Well, I think what’s happening is advertisers are demanding the reach and scale of television and the target ability of digital and the nirvana for advertisers and for our company is if you could ever have the targetability of digital with television. And we’re working on that, we have Linda Yaccarino has a number of products that allow you to analyze data and overlay target ability because we have all these channels and in some instances using the targetability of Comcast cable to have something that’s truly differentiated and interesting for advertisers. And ultimately I think people want to see the data and targetability of digital fully represented inside television. ”