Comcast is poised to deliver a record quarter of broadband subscriber gains as the media giant slowly pulls out of the economic trench caused by the pandemic.
Brian Roberts, chairman-CEO of Comcast, said the cable giant is preparing to report net broadband adds for the third quarter of more than 500,000, a record for the company.
During a Q&A held Tuesday morning as part of Goldman Sachs’ annual Communacopia media and telecom conference, Roberts said that the fledgling Peacock streaming platform has reached 15 million signups, up from the 10 million disclosed at the end of July for the service that launched in beta form in April. Comcast reports its third quarter earnings at the end of October.
Roberts emphasized the importance of the company’s position as one of the world’s biggest broadband providers, calling high-speed internet service “the heart and soul of the company.”
“Broadband in general is a fantastic business for us and will have great growth in the years ahead,” Roberts said. For the year, Comcast is on track to “greatly exceed” 2019’s benchmark of 1.4 million net broadband adds.
Comcast’s earnings before interest, taxes, depreciation and amortization are also heading in the right direction in the current quarter after taking a hit in Q2. NBCUniversal’s TV and film businesses are starting to “ramp back up.” He’s also happy to see two of NBCU’s three theme parks reopen (Universal Studios Hollywood remains closed.)
More to come