Comcast’s Revenue by Segment (2016-2021)

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This statistic highlights Comcast’s Revenue by Segment from Q1 2016 onwards, split between Cable communications, Corporate, Headquarters, Media, Sky, Studios and Theme Parks.
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This statistic highlights Comcast’s Revenue by Segment from Q1 2016 onwards, split between Cable communications, Corporate, Headquarters, Media, Sky, Studios and Theme Parks.

Comcast’s Revenue by Segment

Segment Q3 2020 Q2 2021 Q3 2021 Revenue contribution in Q3 2021
Cable Communications $15,000 $16,002 $16,115 50.60%
Corporate, Other and Eliminations $49 $92 $65 0.20%
Headquarters, Other and Eliminations $32 $22 $28 0.10%
Media $5,148 $6,770 21.30%
Sky $5,220 $4,988 15.70%
Studios $2,224 $2,407 7.60%
Theme Parks $311 $1,095 $1,449 4.60%
Total $15,392 $29,803 $31,822 100%

The total revenue of Comcast has been in an overall uptrend. The company made a revenue of $31,822 million in the latest quarter of 2021, indicating good financial growth compared to Q3 2020, when it made a revenue of $15,392 million.(All figures in millions, except percentages)

Comcast’s Revenue can be bifurcated in the following segments:

Cable Communications

This segment provides high-speed internet, voice, video, wireless automation, and security services to business customers. A majority of the company’s revenue comes from this segment. However, the revenue generated by this segment has fallen from 54% of the total revenue generated in Q2 2021 to 51% in Q3 2021. This segment contributed 69% of the total revenue in Q3 2020.

Corporate, Other and Eliminations

This category covers the operating costs and expenses, primarily including overhead, personnel costs, the costs of other business initiatives, and operating costs and expenses associated with Comcast Spectator. During Q3 2021, this segment contributed 0.20% of the total revenue. There was a 29% decline in the company’s revenue by this segment, from $92 million in Q2 2021 to $65 million in Q3 2021. The drop in Corporate, Other, and Eliminations revenue is mostly attributable to an increase in eliminations as a result of NBCUniversal segments leasing content to Peacock.

Headquarters, Other and Eliminations

This segment consists of the company’s overhead, personnel costs, and also the cost related to some corporate initiatives. During Q3 2021, this segment contributed 0.10% of the total revenue. There was a 27% increase in the company’s revenue by this segment, from $22 million in Q2 2021 to $28 million in Q3 2021. Expenses from this segment decreased in 2020, primarily due to lower employee-related costs and decreased overhead costs as part of cost savings initiatives.

Media

The Media segment covers the broad range of companies that Comcast collaborates with in the field of media, entertainment, and communication services. Being the second-largest contributor to revenue, this segment contributed 21.30% of total revenue in Q3 2021 amounting to $6,770 million. There was a 31.50% increase in revenue as compared to Q2 2021 where the revenue generated was $5,148 million. However, no revenue was contributed by this segment before Q2 2021.

Sky

This segment provides high-speed internet, voice and video services, etc., directly to consumers. Despite being the third-largest contributor to revenue, the contribution has fallen from 18% in Q2 2021 to 15.70% in Q3 2021. No revenue was contributed by this segment before Q2 2021.  The impact of COVID-19 on direct-to-consumer, advertising, and content revenue, as well as the impact of foreign currency translation, has resulted in a fall in Sky segment revenue.

Studios

This segment develops and produces original content, which includes unscripted and scripted talk shows and television series. Studios contributed 7.60% of total revenue in Q3 2021 amounting to $2,407 million. There was a 8.22% increase in revenue as compared to Q2 2021 where the revenue generated was $2,224 million. No revenue was contributed by this segment before Q2 2021.

Theme Parks

Theme parks in Orlando, Florida, Hollywood, California, and Osaka, Japan generate revenue for this segment. During Q3 2021, this segment contributed 4.60% of total revenue. There was a 32% increase in revenue from this segment, from $1095 million in Q2 2021 to $1449 million in Q3 2021. Revenue in the Theme Parks, Filmed Entertainment, Cable Networks, and Broadcast segments fell as a result of a fall in Comcast’s NBCUniversal segments revenue, primarily due to the effects of COVID-19.

About the Company 

Incorporated in Pennsylvania in December 2001, Comcast Corporation is a global media and technology company with Comcast cable, NBCUniversal and Sky being their primary businesses. In the United States of America, Comcast Corporation is the largest cable and home internet service provider.

Comcast’s operations compete in a highly competitive, consumer-driven, fast-changing environment, with a rising number of competitors offering a wide range of communications, goods and services, as well as entertainment, news, and information content to consumers. Some well-known DTC streaming and other OTT service providers have established themselves as serious competitors to Comcast’s video offerings, and others are entering the market at an increasing rate.

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