Comcast goes from strength to strength in 2014
DetailsJoseph O'Halloran | 25 February 2015
Its proposed merger with Time Warner Cable may be a huge regulatory bone of contention, but the Comcast revenue juggernaut kept on rolling in its fiscal 2014, with video trends the best in seven years.
comcastnbcFor the year ended 31 December 2014, the cable giant posted consolidated revenue of $68.8 billion, a year-on-year increase of 6.4%. Excluding $1.1 billion of revenue generated by the Sochi Winter Olympics in the first quarter of 2014, consolidated revenue increased 4.7%. Cable communications revenue increased 5.5% to $44.14 billion, of which $20.783 billion came from video services, representing a 1.2% annual rise.
Comcast ended the year with 22.383 million video customers, a drop of 194,000 compared with the same period in 2013. By contrast, the high speed broadband division has roughly the same amount of customers, but this side of the business showed 1.277 million net additions during 2014.
Revenue from the NBCUniversal business totalled $25.428 billion, a yearly increase of 7.5% but 2.9% excluding the spike form the Sochi games. The effect of the games was also seen in NCBU's broadcast TV line where revenues amounted to $8.52 billion, a rise of 20% compared to 8.1% previously. NCBU Cable Networks brought in $9.563 billion, up 3.9% against the previous 1.1%.
"2014 was a great year financially, operationally and strategically for Comcast NBCUniversal," said Comcast chairman and chief executive officer Brian L Roberts, commenting on the results. "Cable's results, driven by high speed Internet and business services, demonstrate our focus on driving profitable growth and technology innovations, including our transformative X1 platform. This is bearing fruit in our operating performance, as we added 358,000 customer relationships, while video subscriber trends were the best in seven years and in broadband we added over one million subscribers for the ninth year in a row ... We enter 2015 with great momentum and significant opportunities ahead, and we look forward to receiving regulatory approval for the Time Warner Cable merger."