Comcast at Goldman Sachs Conference Notes

posted in: Notes | 0

Brian Roberts – Chairman and Chief Executive Officer
Mike Cavanagh – Chief Financial Officer

We’ve got part of our business that’s going through a lot of change

“we have got a portion of our business that’s obviously going through and we will get into it today, lots of change, the change that’s going on in the ecosystem broadly that’s got everybody worried over the past months around pay-TV and millennials and what that means for cable networks, to pay-TV distribution and advertising. But as we’ll talk about, I love Brian saying the future isn’t written in concrete.”

Our broadband business isn’t impacted by those trends

” there is the preponderance of the company that isn’t touched by those trends that actually benefits in many ways from some of those trends. And that’s our broadband business”

We’ve almost doubled the cash flow of NBCu in 4.5 years

” I think we are approaching doubling the cash flow since we announced the acquisition on, in case of Universal, a 100-year-old business and in NBC and the other parts of the company, 50-year-old business that we have doubled the cash flow in 4.5 years.”

Our film business may be having the best year in the history of hollywood

“let’s start with the film business. We are having, as you have read this summer, the best year in the history of Universal, maybe the best year in the history of Hollywood.”

The X1

” I am enjoying my new X1 in my house in Philadelphia. It is a different kind of experience than I have ever had before in cable TV. And when you convert it to the numbers you have heard before, but now that I have been getting under the covers and really looking at the data around customer segmentation and what we are seeing because we have got some great people working for Neil on that score. Churn for our triple play customers is down 30% for people that use X1 versus those that don’t. ”

Going to be able to recapture more analog and digital bandwidth and apply it to broadband

” We started in the broadband business using one cable TV channel. And there was a time prior to that, that if you wanted to go from 30 channels to 50 channels or 80 channels that there is big debate internally and if you go out and tear down the wire and put up a whole new wire. And one day, we put a lot of fiber out. And now you can extend that fiber deeper. You can go from 1 channel to 4 channels to 8 channels, maybe some day to 80 channels. It doesn’t matter. There is a roadmap as television goes more IP. And you reclaim analog and digital bandwidth and apply it to broadband. We have a roadmap where we recently have announced we are going to go to 2 gigabits a second in certain locations.”