A little bit of everything can add up to big money.
Comcast is the second largest broadcast and television conglomerate in America, and the third largest media company in the world behind Alphabet (Google) and Disney. Comcast is based out of Philadelphia, Pennsylvania.
What sets Comcast apart is the incredible diversity of offerings from the company. Comcast offers a huge range of products and services, including:
- Broadcast television
- Cable television
- Direct broadcast satellite
- Film production
- TV production
- Theme parks
- Home security systems
- Venture Capital
Comcast produces international media and provides commercial and residential customers with data and phone services in forty states in America, plus the District of Columbia. The company produces feature films, television programs, and a wide range of trinkets and support products that are branded with its content.
Much of this diversity has come through years and years of acquisitions and consolidations. The company has dozens of subsidiaries and partner companies.
Comcast owns and operates a residential cable company called Xfinity, and it has a partnership with Verizon. It’s bought up network channels like Telemundo and NBC. Also on television, Comcast owns USA Network, E!, Syfy, CNBC, NBCSN, and MSNBC. In movies, the company owns and operates Universal Studios, a major film studio with a century long history. The studio’s associated theme park line, Universal Parks & Resorts, has a presence across the globe.
The company keeps on buying. In 2014, a merger with TimeWarner Cable was approved by the SEC, allowing Comcast to purchase one hundred percent of this rival, though Comcast controversially backed out before the deal went live. In 2018, it did buy out Sky, a media company that serves much of Europe. This deal made Comcast the largest media company in Europe with more than fifty-three million subscribers.
Being this big has its drawbacks. Comcast has been heavily criticized for its lack of customer service in its telecommunications business. This was such a major issue that the company rebranded its cable and internet provider’s branding from Comcast to Xfinity.
This issue, along with a whole host of antitrust concerns led Comcast to be dubbed the “Worst Company in America” by the magazine The Consumerist not once, but twice in 2010 and 2014.
Though Comcast is massive in size, it’s considered a family company. Brian Roberts serves as the president, chairman, and CEO of Comcast. Brian is following in the footsteps of his father and the founder of the company, Ralph Roberts. Brian retains a thirty-three percent stake in the company, essentially giving him control of its operations. Being family led has been controversial in many aspects, but has also given the company a clear and consistent direction.
The company has annual revenue of almost ninety-five billion dollars per year. It employs one hundred and eighty-four thousand people all across the globe. Its total assets are north of two hundred and fifty billion dollars. It’s publicly traded on the NASDAQ Index.
Whether you call Comcast a family company or a mega conglomerate, one thing is for certain – this company is massive and massively successful.