Comcast Deutsche Bank Conference Notes

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Neil Smit – President and CEO

Still an opportunity in broadband

“Well we’ve put on over a million subs for the past 11 years. And we had the strongest growth in nine years this year at 1.4 million net ads. I think that there is continued room for growth in the broadband space, both the market it’s about 75% penetrated since we see a market opportunity there as well as share growth”

5G requires small cells

“Well 5G is exciting new technology. I think of it as having two components. One is advanced technology primarily in the intended space as well as higher frequency bandwidth. Both of them come with pros and cons. I think with the advanced technology and the antenna it travels the short distances that frequency does and it’s going to require a lot of small cells, lot of space, lot of power, a lot of backhaul. We’ve been doing backhaul for a number of years and we feel pretty good about that business.

With regards to the propagation properties of the higher frequency it doesn’t propagate walls very well, or trees or other obstacles and so we think there is going to be – in order to get it effectively into the home and an antenna is required to be mounted on the house to get the propagation through the house that’s required.

The – we feel good about our network. We’ve had two outside independent experts come in and kind of look at our fiber network plans with and how they all relate with the 5G and we see a lot of compatibility there, excellent compatibility, it’s kind of uncanny. And so we feel good about our plant being able to service the 5G and the growth of our fiber network, we’re bringing fiber deeper everyday in the business services base especially and we think we’ll have one year capacity to service the needs of the 5G technology.”

OTT has had some technical hurdles

‘I think that what we offer is unprecedented quality of service. There been some problems with the releases of some of the OTT technology and our technology is well-developed and established. I think unprecedented quantity of content, we don’t have — we have all the local content, all the live content and 100,000 VOD choices, VOD and X1 is 85% of the customers use it for at least 20 hours a month, so we’re seeing there no holes in the content quantity.”

Happy about conversations around eliminating Title II

“I think an open Internet, net neutrality. We’ve always believed that an open Internet free and open Internet, but I think we didn’t believe the Title II was the way to get there. So I think the conversations around possibly eliminating Title II are positive. The privacy conversations, we always believe that there shouldn’t be too privacy regimes. And so having one-privacy regime would be beneficial.”

We focus on net promoter score

“Well, we accomplished it by getting — it’s really more of a cultural change than anything and getting the whole culture focused on the customer experience we put in one measurement system, Net Promoter System and everyone is measured on that and paid on that including Brian and myself. It focuses on what the customers want and need, and whether they would promote your service to a friend or family, and we also have an employee NPS score, which gets the feedback of the employees who are fundamentally trying to service the customer. So it’s been a real morale lift for the employees.”