Comcast at Bank of America Media Conference Notes

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This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“NBC’s ratings have not been as strong as the other three. We currently sell spots at a discount. So our CPM is on the order of 20% lower than the CPMs for certainly CBS and Fox.”

“part of our philosophy is if you create great content and you’re competitive in these businesses and have a certain optimism about these businesses that’s the way you win over the long term.”

“Well, I think national advertising is still strong. If you look at scatter prices are still double-digit, we’re starting to broadcast season. So, upfront pricing will start to manifest itself but I think the national advertising market is quite good. The local markets are not as good as national and we do have pockets of local markets that are not doing as well as we wish”

“Well, just for a little historical perspective, prior to this year, we had never sold broadcast cable and digital together. So, USA had a sales force, Bravo had a sales force, NBC Entertainment out of sales force…going back to our core sort of philosophy that this scale is helpful, this year we put all of our advertising businesses under one executive”

“our feeling is that when you have our scale and you can put all these assets together, first of all it’s one-stop shopping for buyers. So, I think it’s a more efficient way of dealing with the company than having eight different discussion on eight different parts of the business.”

“the majority of the benefit I think from SVOD has gone to television shows not to film. I think electronic sell-through is not even in the first innings it s in the top half of the first inning. And I think with all this technology and all of these ways to securely get film content there were lot of businesses that are yet to be created that will be created over the next 5 or 10 years that can grow the pie.”

“My belief is that the theatrical experience going into a movie theater is going to be around for very long, long time as long as boys and girls who want to get away from their parents and go out and see a movie and parents want to get away from their kids and everybody wants to share that magic that you get when you’re inside a theater.”

“Well personally I’m skeptical that over the top is a good business. I looked at it many, many times and with or without high def or 4K or new technologies I’m just skeptical it remains to be seen maybe I’m missing something but I’m not sure over the top it’s a real business.”

“You can do things technically to sort of make it look like 4K [Ultra HD] but the best way to really deliver a great 4K experience eventually will require a change in the infrastructure and I think it’s just a question if you are sitting in our shoes or other media companies what that timing is. But I would be very surprised if at some point 4K doesn’t become a very important part of the landscape.”