Careers at Comcast

Mission

Comcast’s mission is to bring together the best in media and technology, and to drive innovation to create the world's best entertainment and online experiences.

Business segments

Comcast is a global media and technology company with two main divisions: Comcast Cable and NBCUniversal. Comcast Cable is reported as one business segment, called Cable Communications, while NBCUniversal consists of four reportable business segments: Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks.

History

In 1963 Ralph J. Roberts and his brother Joe sold their share of Pioneer Industries, a men’s accessories company in Philadelphia. The two sought to enter a new industry, and were intrigued upon learning that American Cable Systems (ACS), a small operation in Tupelo, Mississippi, was up for sale by Jerrold Electronics. They partnered with Julian Brodsky, a certified public accountant, and Daniel Aaron, a former system director at Jerrold, to evaluate the venture. The four determined that even though the company only had five channels and 1,500 customers, it represented a promising opportunity. Roberts purchased ACS and recruited Brodsky and Aaron to join its management team.

Business was slow in the town, so in 1964 they bought more franchises in the cities of Laurel, Meridian, and West Point in eastern MS. This was followed by additional purchases in Okolona and Baldwyn in 1965. Subscriber numbers grew, but they were not high enough to offset the cost of setting up the system in a given area. Through the latter half of the decade the team members expanded to Pennsylvania and Florida. In 1969 they decided they wanted a name reflecting a broader technological scope, and thus took parts of the words “communication” and “broadcast” to create Comcast Corporation. They also reincorporated the firm in Pennsylvania.

Territorial growth continued in states ranging from Michigan to Kentucky. The company’s customer base rose to 40,000, but it still suffered from insufficient income. In 1972, in an effort to raise funds for further expansion, Roberts took Comcast public. The move was successful, and it finally began becoming profitable. In 1998, it made its first significant effort at diversification when it purchased American Cellular Network, a cell phone business serving New Jersey. The next major step came in 1996, when Comcast used its stake in At Home Corporation to launch the @Home Network – a network offering high-speed interactive services, including 24-hour unlimited Internet access through a cable modem. Comcast’s triple play of cable, phone, and Internet was born.

Benefits at Comcast

Business model of Comcast

Customer Segments

Comcast has a mass market business model, with no meaningful distinctions between different customer segments. The company caters to all individuals who desire to consume entertainment and conduct communication activities. They have broadly similar needs and problems.

Value Proposition

Comcast offers three primary value propositions: convenience, cost reduction, and brand/status.

The company creates convenience by enabling consumers to utilize a wide variety of entertainment and communication services (TV, Internet, voice, etc.) through one provider. This cuts down on the administrative headaches of managing these channels.

At the same time, Comcast allows consumers to pay for the services in packaged formats called bundles – “double product” for two services and “triple product” for three services. This allows customers to save costs that would be spent paying for each offering individually.

Lastly, Comcast has a well-established and recognized brand name. The company has been in operation since 1963 and is the largest broadcasting and cable company in the world, with over 27 million customer relationships. This makes people who are trying to decide on a media/technology provider more likely to trust what it has to offer, despite any issues regarding its reputation on performance.

Channels

Comcast operates through five main channels: television, the Internet, mobile devices, movie theaters, and theme parks. In 2015 the company’s total number of Internet subscribers surpassed that of its cable subscribers, making the former its top distribution channel.

Customer Relationships

Comcast’s customer relationship is primarily of a personal assistance nature. A service representative visits customers’ homes to install equipment and connect them to its systems. Afterwards, if there are any questions, users can contact its 24/7 call centers for assistance from a live individual and schedule another visit if necessary. That said, there is also a self-service component as basic inquiries can be answered on its website.

Key Activities

Comcast’s key activities focus on platform management. The company’s business model entails maintaining the network infrastructure through which it provides media and technology services to customers.

Key Partners

Comcast’s key partners are cable networks, local broadcast television stations, customer premise equipment manufacturers, communications vendors, and multichannel video providers. It signs contracts with each in order to provide its services to customers.

Key Resources

Comcast’s main resources are found within its Cable Communications segment; these include its cable distribution system, customer premise equipment, other equipment, and buildings. It also maintains a sizable customer service staff that operates on a 24/7 basis and installation employees.

Cost Structure

Comcast has a value-driven structure, aiming to increase customer satisfaction through significant accessibility to installation and support staff and continuous new service enhancements.  The company’s biggest cost driver is a fixed cost, programming expenses (the fees that it pays to license the programs offered to customers). Other major cost sources are technical and product support (fixed), advertising/marketing/promotion (variable), and customer service (fixed).

Revenue Streams

Comcast’s primary revenue stream is the subscription fees that it charges for access to its various Cable Communications services (video, high-speed Internet, voice). Other significant sources are fees paid for its filmed entertainment and theme parks, advertising fees, and licensing fees.

Finally, Comcast also generates revenue (to a lesser extent) through business services (cable services offered to small and medium-sized businesses) and other services (cable franchise and other regulatory fees as well as earnings from home automation and security services).

Our team

Brian L. Roberts,
Chairman and CEO, Comcast

info: Brian earned a graduate degree from The Wharton School of the University of Pennsylvania. He has worked at Comcast since, becoming its President in 1990. He acted as Chairman of the National Cable & Telecommunications Association for two terms.

Michael J. Cavanaugh,
Senior Executive VP and CFO, Comcast

info: Michael earned a Bachelor’s from Yale University and a J.D. from the University of Chicago. His past positions include CFO of JPMorgan Chase and Co-President (for six years) and Co-Chief Operating Officer of The Carlyle Group.

Stephen B. Burke,
Senior Executive VP, Comcast and CEO, NBC Universal

info: Stephen earned an MBA from Harvard Business School. He oversees the firm’s new, sports, and entertainment networks, motion picture company, television production operations, TV stations group, and theme parks.

David L. Cohen,
Senior Executive VP and Chief Diversity Officer, Comcast

info: David earned a B.A. from Swarthmore College and a J.D. from the University of Pennsylvania Law School. His responsibilities include corporate communications, government and regulatory affairs, and community investment.

Neil Smit,
President and CEO, Comcast Cable Communications

info: Neil earned a B.S. from Duke University and a Master’s degree from Tufts University’s Fletcher School. He previously served as CEO of Charter Communications. He oversees all business aspects of Comcast‘s cable operations.

Lawrence J. Salva,
Chief Accounting Officer, Comcast

info: Lawrence earned a B.A. from Rowan University. He previously worked as a partner at PricewaterhouseCoopers. He is responsible for external financial reporting, corporate accounting, corporate internal controls, and risk management.

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