Comcast

Rahul Pareshbhai Patel

03/18/2022

BIS 101 WI

Central Michigan University

(The Comcast Center located in Philadelphia, Pennsylvania)
 Executive Summary
Comcast

Comcast was created in 1963 by Ralph Roberts and is two of his associates Julian

A. Brodsky and Daniel Aaron. They started the company with the purchase of “American

Cable Systems.” In 1969, Roberts decided to change the name from “American Cable

System” to Comcast. In 1972, Comcast became a publicly-traded company on the

NASDAQ. By 1990, Ralph Roberts’s son became the CEO when he received the

majority of his father’s shares in the company. Throughout the year Brian Robert’s taken

the company to new limited as he increased the number of customers and branches

Comcast oversees. In, 2022, Comcast has become the second-largest broadcasting

company and the first largest internet provider in the nation.

Comcast provides many products and services to meet its customers’ demands as

they offer TV services, internet, and phone. Comcast has many different TV packages to

provide over 15,000 hours of entertainment to its customers. Comcast's main service

includes its high-speed internet which they continue to grow and has helped the company

over its losses in the TV business. Comcast continues to upgrade its technology to

provide the best equipment to its customers so they can have a better experience. In 2010,

Comcast decided to take a different approach with the launch of “Xfinity,” which they

dedicated to providing customers with improved and advanced products like their

modems and cable boxes.

Even though Comcast is the leader of the top internet provider in the nation they

pride themselves on creating a unique work environment for their employees, which lead

i
them to become one of the top companies to work for. They provide many benefits for

their employees like health care, dental, and more. They also provide employees to get an

education with tuition help. They have created a great family environment for all their

employees and continue to find new ways to help create a balanced work environment for

all their employees as they believe it will help them be happy and work more proficiently.

Comcast continues to evolve as they become more diverse every year and give an equal

opportunity for a job to everyone.

Comcast has become one of the top companies in America and they continue to

grow and expand their company. Comcast is currently in a competitive market with its

biggest rival being AT&T. In 2021, they lost over 1.7 million customers and are

projected to lose over $2.5 billion this year. Even though the company is losing

customers it continues to increase its revenue every year. They plan for the future by

creating new branches of their company and expanding and finding new ways to compete

in the market they are in.

ii
iii
 Comcast History

Comcast was founded in 1963 by a man named Ralph Roberts when he purchased

a cable system called “American Cable Systems.” “American Cable Systems,” was a

1,200-subscriber cable system that was founded in Tupelo, Mississippi, which was

purchased by Ralph Roberts to start the foundations of his company. Roberts first

associated were Dan Aaron and Julian Brodsky who helped him help build the company

from the bottom. Two years later in 1965, Roberts and “American Cable Systems”

purchased “Storecast Corporation of America,” which was a marketing firm that helped

food companies improve and track placement of their products. In 1968, “American

Cable Systems” would acquire its first Muzak franchise in Orlando.

In 1969, Roberts and “American Cable Systems” changed the name of the

company to Comcast and created its headquarters in Pennsylvania. By 1972, Comcast

makes it first public stock offering on the NASDAQ under the ticker symbol CMCSA.

Comcast’s Music Network Division becomes number one in the Muzak operators. After

the success of Comcast Music division, Brian Roberts becomes the first intern at Comcast

for “Storecast,” “who later becomes the CEO of Comcast in 1990 (Porterfield et al.,

n.d.).” In 1977, Comcast introduces “HBO” for five-night free previews to 20,000

customers in Pennsylvania, which help introduce more than 3,000 customers orders. By

1986, “Comcast more than doubles in size by adding 1.2 million cable customers with the

purchase of a 26 percent interest in Group W Cable, Inc. (Comcast Timeline, n.d.).” By

1988, Comcast subscribers to over 2 million and becomes known as one of leading cable
companies in the nation. Comcast introduces its cellular services after the purchase of

“American Cellular Network Corporation,” which they changed the name to “Comcast

Cellular Communication.”

Forbes stated at the age of 31 years old, Brian Roberts became the CEO in 1990

when is Father Ralph transferred most of his shares in the company to Brian. Comcast in

1994 acquires “Maclean Hunter’s U.S.” cable operations, which helped Comcast 550,000

customers and becoming the third largest cable company in the country. In 1996,

Comcast created their first broadband high-speed cable modem service and making

internet available to their customers. In 1999, Comcast decides to sell “Comcast Cellular”

to “SBC Communications” for $1.7 billion.

In 2002, Comcast and AT&T Broadband complete a merger for $47.5 billion,

which help Comcast introduced their high-speed internet service. Comcast in 2003,

introduces their DVR system (Digital Video Recorder) and “Video On Demand” services

to provide more entertainment control to their customers. Through 2004-2007 Comcast

continues to grow and merging and expanding their company. By 2009, Comcast become

the largest internet service provider and in 2010 the company introduces “Xfinity” and

“Xfinity TV” to introduce their new technology platform and products. In 2011, Comcast

buys “NBCUniversal, LLC.” from General Electric and Comcast introduce their mobile

app. In 2017, Comcast created “Xfinity Stream,” “Xfinity xFi,” and “Xfinity Mobile.” In

2020, Comcast has its best year in company history and continues to be the top internet

provider.
 Comcast Products and Services

Comcast provides a three-bundle deal which is something they promote heavily.

The three-bundle deal includes high-speed internet, phone, and TV, for the average

customer. Comcast also has a business branch, which provides internet and entertainment

for an office building.

Comcast internet is called “Xfinity,” which provides reliable and affordable

internet to its customers. They provide different ranges of internet speeds to meet

customers’ needs and will often provide other services with the purchase of their internet.

They also provide their advanced modem, which gives you the ability to customize your

internet experience. With the creation of “Xfinity”, they have created a better experience

for their customers to improve the equipment they prove them.

Comcast also provides phone service with their “Xfinity Mobile” services. They

provided unlimited 5G for all customers. They also provide free Wi-Fi hotspots, so you

always stay connected. They provide all the new phones so you can experience what all

the phones offers.

Comcast provides a TV with “Xfinity X1,” which provides you with over 15,000

hours of movies and shows. They provided channels and streaming platforms like:

“ESPN,” “Bravo,” “NBC Golf,” “Nickelodeon,” and “TBS.” They also provide you with

their X1 cable box which lets you access all the entertainment they offer. They also

provide access to their exclusive shows and movies.

 Comcast Employment Availability

Comcast provides many jobs and opportunities for people who looking for them.

They provide jobs and employment availability to people with different educational

backgrounds and provide well-educated guidance to improve the employee experience.

Comcast also provides benefits that will help and encourage their employees to excel.

Comcast provides jobs in sales, customer service, management, and higher-up

positions. They provide an opportunity for career advancement and help their employees

reach their career goals. The company continues to grow in all departments creating more

job opportunities for its employees and future employees.

Comcast has a job opening in all their different branches like: “NBCUniversal.”

“Universal Studios Orlando,” “Comcast Spectator,” “NBCUniversal,” “Universal Studios

Hollywood,” and “Sky.” They have strived to create a well-diverse place for people to be

able to find a job that fits them and provides experience, so employees feel comfortable.

Comcast ranked number six on DiversityInc’s Top 50 list as they are one of the

most diverse companies. They also scored 100 on the “Human Rights Campaign,” and

were named “The Best Place to Work for LGBTQ Equality.” Comcast also scored a 100

on the annual “Disability Equality Index” and was voted “Best Place to Work for

Disability Inclusion.” Lastly, Comcast was the top employer for veterans by “Military

Times” and received the “Best for Vets” award.

 Comcast Organization Corporate Culture

Comcast is a family-oriented company and creates a family bond with its

employees. They want their employees to be themselves and want them to bring their

authentic selves. They created this environment where they want their employee's voices

to be heard. Comcast wants employees to feel confident, think freely, and contribute

fearlessly.

A survey done by Comcast employees on the “Trust index” shows the comments

of employees that work at Comcast. Employees believe that Comcast provides the best

benefits as they make sure their employees have everything, they provide their employees

paid time off, medical, and dental, 401(K) saving plan, and tuition assistance. Comcast

employees believe that they are part of a family as they can work freely and be able to get

any opportunity handed to them.

Comcast creates equal opportunities for all its employees as they have won many

awards related to the workplace. Some of the awards are “Best Workplace for Women,”
“100 Best Companies to Work For,” and “Best Big Company to Work For.” Comcast

created a diverse and helpful family for their employees, so they feel welcome.

A survey done by “Great Place to Work” says that 94% of Comcast employees

say it’s a great place to work. They feel like they were welcome from when they joined

the company and treated well by management as 94% believe that management is honest

and ethical. Also, 94% feel accomplished and feel a sense of pride in the work they have

done for the company. Employees of Comcast believe that the company is with them

throughout their journey with Comcast.

 Comcast Future

Comcast has created a business plan which includes them expanding and growing

as a company. Comcast's main goal for 2022 is to expand its broadband service said CEO

Brian Roberts. Comcast lost nearly 1.3 million subscribers in 2021 in Quarter 3 of last

year and is currently working to revive its video services.

Comcast is in a very competitive industry with AT&T beings it’s the biggest

competitor. AT&T has been making big moves to slow down the growth of Comcast and

Comcast lost $1.7 billion in 2021 and is expected to lose an additional $2.5 billion in

2022. Brian Robert’s the current CEO of Comcast said in an interview that their focus is

to increase their broadband service to cover the losses of the video subscription as their

internet service is what makes them the most revenue. They are working to create a better

video subscription service as they are planning to create new partnerships with other

companies.
 Comcast is currently down 1.48% and had a fifty-two-week give of $61.80. In the

last three months, Comcast has a loss of $2.18 (-4.47%) and in the last year, Comcast has

been down $9.86 (-17.46%). Comcast's revenue in the fourth quarter of last year was $30

billion, which was an increase from last year’s $27 billion, which was a 9.5 percent

chance. The whole year of last year Comcast made $116 billion, which was an increase

from 2020 which was $103 billion, which was a 12.4 percent change. Their cash flow in

2021 was $17 billion, which was an increase from 2020 which was $13 billion.

Comcast is still a very profitable company even though it is experiencing losses in

customers but, is expected to continue to gain more customers every year. Comcast is

expected to make new partnerships with other video platforms to help decrease the loss

they are facing. Comcast stock is expected to have a $60.00 median target and an

estimated high of $75.00. They are currently in second place as the largest broadcasting

and cable television company based on revenue and the largest internet provider in

America. The future of the company looks good as it is continuing to increase revenue

and created new growth opportunities.

 Work for Comcast

Comcast is a solid company to work for as they provide many benefits for their

employees. They create opportunities and give you chances to move up and give you

chances to learn. Comcast has created a family that is willing to take you in and help you

throughout your journey.

Comcast provides more than basic opportunities to their employees like education

opportunities and chances to project ideas that may benefit the company. Not only do

they give you opportunities they also have great benefits as they are willing to spend the

money to take care of their employees, which shows that they care for them. They do a

great job of balancing work and family as they give you time to spend time with your

family.

Another reason Comcast is a good company to work for is that its employees are

happy. Comcast has created a great environment where its employees are happy to come

to work every day and be willing to work. Also, Comcast pays decently well as they have

the money to do so as the company is going well. They continue to expand and grow their

company which gives you a chance to explore which part of the company is best for you.
 Bibliography
C. (2021, July 29). Comcast CEO Brian Roberts on the company’s earnings and

streaming business. CNBC. Retrieved March 19, 2022, from

https://www.cnbc.com/video/2021/07/29/comcast-ceo-brian-roberts-on-

the-companys-earnings-and-streaming-business.html

Comcast Center Campus. (2022, January 1). Welcome to the Comcast Center

Philadelphia Campus. Retrieved February 19, 2022, from

https://comcastcentercampus.com/

Comcast Chairman and CEO Brian Roberts: Rip Up Your Playbook Every Day.

(2021, May 12). [Video]. YouTube. https://www.youtube.com/watch?

v=xMG98B1YdLQ&ab_channel=MorganStanley

Comcast Corporation. (n.d.). The New York Times. Retrieved March 20, 2022,

from https://www.nytimes.com/topic/company/comcast-corporation

Comcast Timeline. (n.d.). Comcast. Retrieved March 20, 2022, from

https://corporate.comcast.com/press/timeline

Novak, W. (2022). An Incredible Dream: Ralph Roberts and the Story of

Comcast (First Edition). COMCAST CORPORATION.

Porterfield, C., Roberts, B., Roberts, B., Roberts, B., Roberts, B., Roberts, B.,

Roberts, B., Roberts, B., Roberts, B., Roberts, B., Roberts, B., Roberts,

B., Roberts, B., Roberts, B., Roberts, B., & Berr, J. (n.d.). Brian Roberts.

Forbes. Retrieved March 20, 2022, from

https://www.forbes.com/profile/brian-roberts/?sh=7d577ef768be
Securities and Exchange Commision. (2020). Comcast Annual Report 2020.

https://www.annualreports.com/HostedData/AnnualReports/PDF/NASDAQ

_CMCSA_2020.pdf

Work, G. P. T. (2021). Comcast NBCUniversal. Great Place to Work®. Retrieved

March 22, 2022, from https://www.greatplacetowork.com/certified-

company/1000066