Comcast Corporation (CMCSA) Management Presents at Bank of America Media, Communications & Entertainment Conference 2022 (Transcript)

Sep. 08, 2022 4:01 PM ETComcast Corporation (CMCSA)
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Comcast Corporation (NASDAQ:CMCSA) Bank of America Media, Communications & Entertainment Conference 2022 September 8, 2022 11:50 AM ET

Company Participants

Jessica Reif Ehrlich - BofA Securities

Conference Call Participants

Jason Armstrong - EVP, Deputy CFO & Treasurer

Jessica Reif Ehrlich

We'll start our media part of the day with Jason Armstrong, Executive Vice President and Deputy CFO and Treasurer of Comcast. Did I miss any titles?

Jason Armstrong

You got it.

Jessica Reif Ehrlich

I got it all. So welcome. Really great to have you here. Comcast is a number of different areas of business, including, obviously, cable, NBCU and Sky. Can you talk a little bit about how the businesses fit together? What strategic advantages are gained from having them all part of the larger Comcast?

Jason Armstrong

Yes. Well, Jessica, thanks for having us here. It's actually great to be back in person this year. I think Comcast, in terms of strategic is, let's say, scaled and integrated content and distribution company. With leadership starting from Brian, Mike, Dave, Jeff, Dana, that's really focused on innovation and collaboration for the purpose of the total business, not just individual business units. So I think that's where we started the core.

But the scale part, we've got scale in content, we've got scale in distribution, we've got scale in advertising, we've got scale intact platforms. So those sort of one-by-one, scale and distribution, we've got 60 million global customer relationships in high-value markets, strong consumer wallet share, with customers paying us an average of $120 in ARPU a month. So significant scale and distribution.

We've got scale and content. We spent $20 billion a year between NBC and Sky in content production. And we hit 700 million, if you think about sort of the scale and the reach that we have between NBC and

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