CLAIM #15302 · Comcast Corp (CMCSA) · 2023Q3 earnings call · Oct 26, 2023 · due Jun 30, 2024
“So some of that will revert we believe once strikes are over.”
Mike Cavanagh · CFO
In context
“hasn't gotten better at the same time. And we still continue to think it's due to the general uncertainty about economic conditions that are out there. The kind of weakness that we're talking about or the softness is particularly on the linear side, while Peacock has remained very strong. Picking at this quarter a little bit, the deceleration from 5% to 8%, contributing factor there which is a little idiosyncratic is, while the retail and tech sectors were down a little bit, whereas auto and pharma and consumer products were up. The one that was down that's a little unique and idiosyncratic is entertainment where you had streamers spending a little less together with advertisers, given the strikes, looking at what the lineups were in the recent past and putting some money in other places. So some of that will revert we believe once strikes are over. And as we look to the fourth [Technical Difficulty] last year's World Cup as well as political that underlying ad sales will be an improvement in this fourth quarter versus last year's fourth quarter. And as far as digital, I think that's why there is definitely the opportunity that some tech competitors are capturing to get premium video monetized in digital platforms, and I think that speaks to why we consider Peacock to be an important initiative for us. And we're pleased again with the progress we're making in Peacock which is now north of 28 million subs and strong overall 60% revenue growth year-over-year. Brian Roberts: One last point I just wanted to add that one of the great things about sports that we're very excited about is streaming sports and what that means for our broadban”
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SEC filings for CMCSA ↗ · Claim quote is verbatim from the 2023Q3 earnings call.