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This statistic highlights Comcast Corp’s number of Customer Relationships, split between Business Services Customer Relationships and Residential Customer Relationships, reported on a quarterly basis.
Customer relationships simply mean the number of business or residential customers who subscribe to at least one of the company’s services.
The total number of customer relationships increased from 32.664 million in Q3 2020 to 34.049 million in Q3 2021, leading to a growth of 4% on a year-on-year basis. There was also an increase of 0.256 million from 33.793 million in Q2 2021 in Q2 2021 to 34.049 million in Q3 2021, leading to a growth of about 0.8% in the number of customer relationships on a quarterly basis.
The customer relationships of Comcast can be bifurcated into the following:
|Customer Relationships||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Business Services Customer Relationships||2.401||2.454||2.473||7.26%|
|Residential Customer Relationships||30.263||31.339||31.576||92.74%|
(All figures in millions, except percentages)
Business Services Customer Relationship
The company offers a wide variety of products as well as services to businesses. It provides high-speed internet services like voice and video services to small businesses. It also provides software-defined networking products to the medium-sized firms and network security, router management to larger enterprises.
The total number of customer relationships from business services increased from 2.401 million in Q3 2020 to 2.473 million in Q3 2021, marking a growth of about 3% on a year-on-year basis. There was also a growth of about 0.8% on a quarter-on-quarter basis in Q3 2021, as compared to 2.454 million in Q2 2021. Overall, business services customer relationship accounted for about 7.3% of Comcast’s total number of customer relationships in Q3 2021.
Residential Services Customer Relationships
The company also provides cloud-based services, advanced wi-fi solutions, wireless backup connectivity, and many more to its residential customers. Residential services have the maximum number of customer relationships.
Residential Services accounted for about 92.7% of Comcast’s total customer relationships. The total number of customer relationships from residential services increased from 30.263 million in Q3 2020 to 31.576 million in Q3 2021, marking a growth of approximately 4% on a year-on-year basis. The number of residential customer relationships also grew by approximately 0.8% on a quarter-on-quarter basis, as compared to 31.339 million in Q2 2021.
Comcast is a global media and technology company. Comcast has three main businesses- Comcast Cable, NBCUniversal, and Sky. The company is manufacturing, operating, and managing cable systems since 1963. The company’s segments consist of cable communications, cable networks, broadcast television, filmed entertainment, theme parks and sky. The Cable Network includes national cable networks and provides sports, news, and entertainment information to the customers. The broadcast television consists of NBC and Telemundo broadcast networks, some locally-owned broadcast stations, and various digital properties. The company produces, acquires and distributes filmed entertainment globally. It mainly consists of the operations of Universal Pictures. The company’s Universal theme parks are located in various parts of the world like Osaka, Beijing, Florida, etc.
Almost all of Comcast’s businesses were affected by the pandemic. Construction of several theme parks was delayed due to COVID-19. The company extended support to its employees and implemented various safety and work-from-home measures wherever possible. The company’s stock is traded on the NADAQ under the symbol “CMCSA”.
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