Comcast Corporation (CMCSA): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo da Comcast Corporation, uma potência de mídia e telecomunicações que revolucionou como consumimos entretenimento e conectamos digitalmente. Desde sua ampla infraestrutura de rede até plataformas inovadoras de streaming como Peacock, a Comcast teve maestrificamente um modelo de negócios complexo que abrange serviços a cabo, produção de conteúdo e telecomunicações de ponta. Ao integrar estrategicamente redes de mídia, tecnologia avançada e diversos fluxos de receita, essa gigante corporativa se posicionou na vanguarda dos modernos ecossistemas de comunicação digital e entretenimento.

Comcast Corporation (CMCSA) - Modelo de negócios: Parcerias -chave

Redes de mídia NBCUniversal e produtores de conteúdo

O NBCUniversal da Comcast mantém parcerias estratégicas com vários produtores de conteúdo e redes de mídia:

Parceiro	Detalhes da colaboração	Valor anual
Universal Studios	Produção de conteúdo de cinema e televisão	US $ 3,2 bilhões
Animação DreamWorks	Desenvolvimento de conteúdo animado	US $ 1,5 bilhão
Redes de céu	Distribuição internacional de mídia	US $ 14,3 bilhões

Provedores de tecnologia

A Comcast colabora com os principais parceiros de infraestrutura de tecnologia:

• Sistemas Cisco: Soluções de Infraestrutura de Rede (contrato de US $ 2,7 bilhões)
• Grupo ARRIS: Modem a cabo e equipamentos de rede (parceria de US $ 1,9 bilhão)
• Harmonic Inc.: Tecnologias de entrega de vídeo (contrato anual de US $ 450 milhões)

Criadores de conteúdo e estúdios

Parcerias estratégicas de conteúdo incluem:

Estúdio/criador	Tipo de conteúdo	Valor da parceria
Warner Bros. Discovery	Conteúdo de streaming	US $ 1,1 bilhão
Disney	Conteúdo de entretenimento	US $ 750 milhões
Paramount Global	Distribuição da mídia	US $ 620 milhões

Provedores de serviços de internet e móveis

Parcerias de conectividade de rede:

• AT&T: Serviços de rede atacadista (US $ 3,4 bilhões)
• Verizon: Acordos de interconexão (US $ 2,8 bilhões)
• T-Mobile: Operações de rede virtual móvel (US $ 1,6 bilhão)

Agências de publicidade e marketing

Colaborações de estratégia promocional:

Agência	Foco de serviço	Gasto anual
Grupo WPP	Marketing integrado	US $ 420 milhões
Publicis Groupe	Publicidade digital	US $ 350 milhões
Omnicom Media Group	Campanhas multicanais	US $ 280 milhões

Comcast Corporation (CMCSA) - Modelo de negócios: Atividades -chave

Prestação de serviços a cabo e Internet

A Comcast fornece serviços a cabo e na Internet para aproximadamente 57,4 milhões de relacionamentos totais dos clientes a partir do quarto trimestre 2023. Os assinantes de banda larga residenciais atingiram 32,7 milhões, com assinantes de vídeo residencial em 19,1 milhões.

Categoria de serviço	Total de assinantes	Receita anual
Internet a cabo	32,7 milhões	US $ 24,3 bilhões
Vídeo a cabo	19,1 milhões	US $ 15,7 bilhões

Produção e distribuição de conteúdo

O NBCUniversal gera conteúdo em várias plataformas com gastos anuais de produção de conteúdo de US $ 12,5 bilhões em 2023.

• Orçamento de produção de filmes: US $ 4,2 bilhões
• Produção de conteúdo de televisão: US $ 6,8 bilhões
• Transmissão de conteúdo de conteúdo: US $ 1,5 bilhão

Gerenciamento de plataforma de streaming (pavão)

A plataforma de streaming de pavões atingiu 28 milhões de assinantes pagos no quarto trimestre 2023, com investimento anual de conteúdo de streaming de US $ 1,5 bilhão.

Manutenção de infraestrutura de rede

A Comcast investiu US $ 11,2 bilhões em atualizações de infraestrutura de rede e tecnologia durante 2023.

Área de investimento em infraestrutura	Gastos anuais
Atualizações de rede	US $ 6,5 bilhões
Desenvolvimento de Tecnologia	US $ 4,7 bilhões

Integração de serviços de telecomunicações e mídia

A receita total consolidada da Comcast para 2023 foi de US $ 116,4 bilhões, com serviços integrados nos setores de cabo, mídia e telecomunicações.

• Receita de comunicação a cabo: US $ 58,7 bilhões
• Receita NBCUniversal: US $ 40,2 bilhões
• Receita do céu: US $ 17,5 bilhões

Comcast Corporation (CMCSA) - Modelo de negócios: Recursos -chave

Infraestrutura de rede de cabos e banda larga extensa

A partir do quarto trimestre 2023, a Comcast opera:

• Aproximadamente 58 milhões de conexões de cabo e banda larga
• Mais de 190.000 milhas de rota de infraestrutura de rede de fibras

Recurso de rede	Quantidade
Nós do cabo	125,000
Miles de rede total	193,000
Data centers	17

Estúdios de produção de mídia e bibliotecas de conteúdo

Recursos de conteúdo de propriedade da NBCUniversal:

• Mais de 6.000 horas de conteúdo original anualmente
• Mais de 35 redes de televisão
• 12 estúdios de produção de filmes

Tecnologia avançada de telecomunicações

Investimentos de infraestrutura de tecnologia:

• US $ 3,2 bilhões de investimento tecnológico anual
• Recursos de atualização de rede DOCSIS 4.0
• Programa de Desenvolvimento de Rede 10G

Grandes redes de base de clientes e assinantes

Segmento de assinante	Número de assinantes
Assinantes de cabo	22,1 milhões
Internet de banda larga	32,4 milhões
Assinantes móveis	5,2 milhões

Força de trabalho qualificada nos setores de mídia e tecnologia

Estatísticas da força de trabalho:

• Total de funcionários: 186.000
• Treinamento médio da força de trabalho tecnológica anual: 240 horas por funcionário
• Investimento anual de desenvolvimento da força de trabalho: US $ 425 milhões

Comcast Corporation (CMCSA) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes de entretenimento e comunicação

A Comcast oferece uma gama diversificada de serviços com as seguintes métricas principais:

Categoria de serviço	Total de assinantes	Receita anual
Televisão a cabo	21,4 milhões de assinantes	US $ 22,1 bilhões
Serviços de Internet	32,1 milhões de assinantes	US $ 28,5 bilhões
Serviços de voz	11,6 milhões de assinantes	US $ 8,3 bilhões

Pacotes de televisão de internet e cabo de alta velocidade

Os pacotes de internet e cabo da Comcast incluem:

• Xfinity Internet Speeds variando de 50 Mbps a 1,2 Gbps
• Custo médio do pacote mensal da Internet: US $ 64,99
• Pacotes de TV a cabo com opções de canal de 125-250

Conteúdo original através do NBCUniversal e Peacock

Estatísticas da plataforma de produção e streaming de conteúdo:

Plataforma	Assinantes	Investimento anual de conteúdo
Streaming de pavão	28 milhões de assinantes	US $ 3,2 bilhões
NBCUniversal Studios	N / D	US $ 2,7 bilhões

Serviços agrupados para clientes domésticos e comerciais

Ofertas de serviço em pacote:

• Pacotes de triplo-play: Internet + TV + Telefone
• Custo médio do pacote: US $ 129,99 por mês
• Pacotes de serviços comerciais com suporte dedicado

Experiências integradas de mídia e telecomunicações

Métricas de ecossistema de serviço integrado:

Integração de serviços	Taxa de penetração	Satisfação do cliente
Famílias com vários serviços	68% da base de clientes	4.2/5 Classificação
Acesso ao conteúdo da plataforma cruzada	92% dos assinantes	4.3/5 Classificação

Comcast Corporation (CMCSA) - Modelo de Negócios: Relacionamentos do Cliente

Canais de suporte ao cliente 24/7

A Comcast opera vários canais de suporte ao cliente com as seguintes métricas:

Canal de suporte	Volume anual	Tempo médio de resposta
Suporte telefônico	42,6 milhões de interações com os clientes	7,2 minutos
Bate -papo ao vivo	18,3 milhões de interações	4,5 minutos
Apoio à mídia social	6,7 milhões de interações	3,8 minutos

Gerenciamento de contas online de autoatendimento

As plataformas digitais Xfinity fornecem opções abrangentes de autoatendimento:

• Downloads de aplicativos móveis: 22,4 milhões de usuários ativos
• Gerenciamento de contas online: 67% dos clientes usam plataformas digitais
• Pagamento da fatura através de canais digitais: US $ 8,3 bilhões processados ​​anualmente

Recomendações de serviço personalizadas

A Comcast utiliza análise de dados avançada para personalização:

Métrica de personalização	Valor
Recomendações de conteúdo personalizado	Taxa de precisão de 73%
Atualizações de serviço direcionadas	Receita adicional de US $ 486 milhões gerada

Programas de fidelidade e retenção de clientes

Estatísticas do programa de recompensas Xfinity:

• Membros do programa de fidelidade total: 14,2 milhões
• Taxa de retenção de clientes: 84,6%
• Investimento anual do Programa de Fidelidade: US $ 127 milhões

Plataformas de interação digital e física

Métricas de engajamento do cliente omnichannel:

Plataforma de interação	Interações anuais
Lojas de varejo	8,3 milhões de visitas ao cliente
Portais de suporte on -line	62,4 milhões de interações digitais
Centros de atendimento ao cliente	5,6 milhões de interações pessoais

Comcast Corporation (CMCSA) - Modelo de Negócios: Canais

Lojas de varejo diretas

Comcast opera 1.276 lojas de varejo Xfinity nos Estados Unidos a partir de 2023. Essas lojas geram aproximadamente US $ 3,2 bilhões em receita anual de varejo.

Tipo de loja	Número de locais	Receita média anual por loja
Xfinity Retail Stores	1,276	US $ 2,5 milhões
Centros de Serviço Corporativo	87	US $ 1,8 milhão

Site online e aplicativos móveis

As plataformas digitais da Comcast incluem Xfinity.com e aplicativos móveis com 12,4 milhões de usuários mensais ativos. Os canais digitais geram US $ 2,7 bilhões em transações online.

• Site Xfinity.com
• Xfinity Stream App
• Xfinity My Account App
• Xfinity WiFi App

Centros de atendimento ao cliente

A Comcast mantém 42 Centros de atendimento ao cliente com 17.500 representantes de atendimento ao cliente. O volume anual de chamadas chega 58,3 milhões de interações com os clientes.

Métrica de call center	Valor anual
Tota de call centers	42
Representantes de atendimento ao cliente	17,500
Interações anuais do cliente	58,300,000

Plataformas de marketing digital

A Comcast utiliza 7 canais de marketing digital primários com um gasto anual de publicidade digital de US $ 1,6 bilhão.

• Google anúncios
• Publicidade no Facebook
• Marketing do LinkedIn
• Publicidade do YouTube
• Promoções do Instagram
• Anúncios do Twitter
• Redes de exibição programáticas

Varejistas eletrônicos de terceiros

A Comcast distribui produtos através de 3.742 Locais de varejo eletrônicos de terceiros, gerando US $ 1,1 bilhão em vendas anuais.

Varejista	Número de locais	Contribuição anual de vendas
Best Buy	1,030	US $ 425 milhões
Walmart	1,287	US $ 378 milhões
Alvo	542	US $ 197 milhões
Outros varejistas	883	US $ 100 milhões

Comcast Corporation (CMCSA) - Modelo de negócios: segmentos de clientes

Assinantes residenciais a cabo e na Internet

No quarto trimestre 2023, a Comcast registrou 22,5 milhões de clientes de banda larga residencial nos Estados Unidos. O segmento residencial inclui:

• Serviços de Internet de alta velocidade
• Pacotes de televisão a cabo
• Serviços telefônicos domésticos

Segmento de clientes	Total de assinantes	Receita mensal média por assinante
Banda larga residencial	22,5 milhões	$84.37
TV a cabo	19,3 milhões	$72.50

Clientes de telecomunicações de negócios

Comcast Business Serves 2,6 milhões de clientes comerciais Em vários setores:

• Empresas de nível corporativo
• Pequenas e médias empresas
• Instituições governamentais

Segmento de negócios	Total de clientes	Receita anual
Serviços de negócios	2,6 milhões	US $ 8,4 bilhões

Streaming de conteúdo consumidores

Peacock, a plataforma de streaming da Comcast, relatada 28 milhões de assinantes pagos A partir do quarto trimestre 2023.

Plataforma de streaming	Assinantes pagos	Preço mensal de assinatura
Pavão	28 milhões	$9.99 - $14.99

Entusiastas de entretenimento e mídia

NBCUniversal alcance Aproximadamente 206 milhões de espectadores mensais em várias plataformas.

Clientes pequenos e médios da empresa

A Comcast Business tem como alvo 1,4 milhão de pequenas e médias empresas com soluções de telecomunicações especializadas.

Tamanho da empresa	Total de clientes	Gasto médio mensal de serviço
Pequenas empresas	1,1 milhão	$250
Médias empresas	0,3 milhão	$750

Comcast Corporation (CMCSA) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de rede

Em 2023, a Comcast investiu US $ 9,3 bilhões em infraestrutura de rede e despesas de capital. A empresa mantém aproximadamente 189.000 milhas de rota da Fiber Network.

Categoria de custo de infraestrutura	Despesas anuais
Atualizações de infraestrutura de rede	US $ 5,6 bilhões
Manutenção de rede de fibra óptica	US $ 1,7 bilhão
Operações de data center	US $ 1,2 bilhão

Produção de conteúdo e licenciamento

A Comcast NBCUniversal gastou US $ 2,5 bilhões em produção de conteúdo e licenciamento em 2023.

• Custos de produção de cinema e televisão: US $ 1,4 bilhão
• Licenciamento de conteúdo de streaming: US $ 680 milhões
• Aquisição de conteúdo esportivo: US $ 420 milhões

Investimentos de tecnologia e equipamentos

O investimento total em tecnologia para 2023 atingiu US $ 3,8 bilhões.

Categoria de investimento em tecnologia	Quantia
Hardware e equipamento	US $ 1,9 bilhão
Desenvolvimento de software	US $ 1,2 bilhão
Infraestrutura de segurança cibernética	US $ 700 milhões

Salários dos funcionários e despesas operacionais

As despesas totais relacionadas aos funcionários da Comcast em 2023 foram de US $ 22,4 bilhões.

• Total de funcionários: 186.000
• Compensação média dos funcionários: US $ 120.430
• Overhead operacional: US $ 5,6 bilhões

Custos de marketing e aquisição de clientes

As despesas de marketing para 2023 totalizaram US $ 4,1 bilhões.

Categoria de despesa de marketing	Quantia
Marketing digital	US $ 1,3 bilhão
Publicidade tradicional	US $ 1,8 bilhão
Campanhas de aquisição de clientes	US $ 1 bilhão

Comcast Corporation (CMCSA) - Modelo de negócios: fluxos de receita

Taxas mensais de assinatura a cabo e na Internet

A partir do quarto trimestre 2023, a Comcast relatou:

Tipo de assinatura	Número de assinantes	Receita mensal média por assinante
TV a cabo	19,3 milhões	$84.72
Internet	32,4 milhões	$93.55

Assinaturas de plataforma de streaming (pavão)

Detalhes da receita de assinatura de pavão para 2023:

• Total de assinantes: 28 milhões
• Taxas mensais de assinatura:
  • Premium: US $ 11,99
  • Premium Plus: $ 14,99
• Receita anual de pavão: US $ 456 milhões

Receita de publicidade em plataformas de mídia

Recutação de receita de publicidade para 2023:

Plataforma	Receita total de publicidade
Redes de cabo	US $ 3,2 bilhões
TV de transmissão	US $ 2,7 bilhões
Plataformas digitais	US $ 1,5 bilhão

Serviços de telecomunicações de negócios

Receita do segmento de negócios da Comcast para 2023:

• Receita total: US $ 7,8 bilhões
• Receita de soluções corporativas: US $ 3,2 bilhões
• Serviços de negócios pequenos e médios: US $ 4,6 bilhões

Licenciamento e distribuição de conteúdo

Receita de licenciamento de conteúdo para 2023:

Tipo de conteúdo	Receita de licenciamento
Licenciamento de filmes e programas de TV	US $ 2,1 bilhões
Distribuição internacional de conteúdo	US $ 1,3 bilhão

Comcast Corporation (CMCSA) - Canvas Business Model: Value Propositions

You're looking at the core offerings Comcast Corporation is pushing right now to defend its turf and grow in a competitive landscape. Here's the breakdown of what they are selling, grounded in the latest numbers from their Q3 2025 report.

Multi-gig symmetrical internet speeds via DOCSIS 4.0 and fiber optionality

Comcast is using its network transformation, dubbed Project Genesis, to push symmetrical multi-gigabit speeds over existing coaxial infrastructure, aiming to match fiber performance. The company previously announced a goal to reach more than 50 million homes and businesses with multi-gig Internet speeds by the end of 2025. They've already seen success in trials; Comcast completed its first DOCSIS 4.0 test in the Philadelphia area in 2023, achieving symmetrical speeds over 4 Gbps using full duplex technology. For customers, this translates into new X-Class Internet products offering tiers like X-300 Mbps, X-500 Mbps, X-1 Gbps, and X-2 Gbps upload and download speeds. To address churn, they introduced a simplified pricing model featuring a 5-Year Internet Price Guarantee and four national speed tiers.

Bundled value proposition: Xfinity Internet, Mobile, and streaming (e.g., StreamSaver)

The convergence play is central, using Xfinity Mobile as a major incentive to stabilize broadband. In Q3 2025, Comcast added a record 414,000 Domestic Wireless Customer Line Net Adds, bringing the total lines to 8.9 million. Wireless revenue for that quarter rose 14% to $1.25 billion. New go-to-market tactics include offering a Free Xfinity Unlimited Mobile Line Included for 1-Year with certain broadband plans. The bundling strategy is designed to drive uptake, as seen in Q2 2025 when they offered a one-year free mobile line and a 2 years of Peacock Premium offer.

Here's a look at the mobile penetration:

Metric	Q3 2025 Value	Context
Domestic Wireless Line Net Additions	414,000	Best Quarterly Result on Record
Total Domestic Wireless Lines	8.9 million	Surpassed 14% Penetration of Domestic Residential Broadband Customers
Q1 2025 Total Lines	8.15 million	Up from 8.15 million in Q1 2025

Premium, diverse entertainment content through Peacock and linear channels

Peacock is showing clear progress toward profitability, driven by premium content like the theatrical success of Jurassic World Rebirth, which grossed nearly $900 million globally year-to-date. In Q3 2025, Peacock narrowed its operating loss to $217 million, an improvement of $219 million compared to the prior year period. Peacock revenue in Q3 2025 was $1.36 billion, with subscriber numbers holding steady at 41 million paid subscribers. The Media division's EBITDA grew 28.0% to $832 million in Q3 2025, largely driven by Peacock's improved performance.

The streaming platform's financial trajectory:

• Q3 2025 Peacock Revenue: $1.36 billion
• Q3 2025 Peacock Operating Loss: $217 million
• Q2 2025 Peacock Revenue: Roughly $1.23 billion
• Q2 2025 Peacock Operating Loss: Narrowed to approximately $101 million
• Q1 2025 Paid Subscribers: 41 million

Reliable connectivity and advanced services for Small to Medium-sized Enterprises (SMEs)

Comcast Business is a significant, growing component, nearing a major revenue milestone. For the full-year 2024, Comcast Business generated $9.7 billion in revenue, and in Q1 2025, it delivered mid-single-digit revenue and EBITDA growth with margins of roughly 57%. By Q3 2025, Business Services Connectivity Revenue increased 6.2% to $2.6 billion, with EBITDA at $1.5 billion and a margin of 56.4%. This unit is now nearing $10 billion in annual revenue.

Immersive, world-class experiences at Universal Theme Parks (Epic Universe opening May 2025)

The opening of Epic Universe in Orlando in May 2025 immediately became a value driver. In Q3 2025, Theme Parks EBITDA increased 13.1% to $958 million, directly fueled by the new park. For the quarter ending June 30, 2025 (Q2 2025), Theme Parks revenue jumped 18.7% to $2.7 billion, reflecting the successful launch. The early results showed the park driving higher per capita spending and attendance across the entire Universal Orlando Resort.

Theme Park Financial Impact (Post-Epic Universe Opening):

Metric	Q3 2025 Value	Q2 2025 Value
Theme Parks EBITDA	$958 million	N/A
Theme Parks Revenue	$2.7 billion	$2.35 billion (19% increase)

Finance: draft 13-week cash view by Friday.

Comcast Corporation (CMCSA) - Canvas Business Model: Customer Relationships

You're looking at how Comcast Corporation manages its relationship with its massive customer base as of late 2025. It's a multi-pronged approach, balancing digital efficiency with necessary in-person support. Honestly, the sheer scale of their operations means automation has to carry the bulk of the load.

Automated and self-service options via Xfinity apps and digital platforms

Comcast Corporation has pushed customers heavily toward digital channels, recognizing that for many, self-service is the fastest route. Today, 84% of all customer interactions are completed through digital channels. This is supported by continuous AI refinement. The company's AI-driven virtual assistant handles over one million inquiries every month across platforms like Xfinity Assistant. The goal is clear: make the digital path frictionless. If onboarding takes 14+ days, churn risk rises, so speed in digital resolution is key.

• AI-based Virtual Technician resolves up to 70% of issues without a human agent.
• Historical chatbot success metrics show a peak query resolution rate of 95%.
• The redesigned Xfinity App offers 24/7 real-time access to account info and billing.

Dedicated sales and support teams for Comcast Business enterprise clients

For Comcast Business, the relationship model shifts to a more dedicated, enterprise-focused structure. Comcast Business describes itself as the largest provider of connectivity to small businesses in America. Their Dedicated Internet service has expanded to reach more than 3.5 million businesses nationwide, offering symmetrical speeds up to 300/300 Mbps. This expansion represents a 50% increase in available symmetrical speeds over HFC and extends reach to 40% more businesses since February 2025. Support for these clients is backed by robust Service Level Agreements (SLAs) that include 99.99% uptime, plus 24/7 expert support.

New go-to-market strategy with a 5-year Internet Price Guarantee

To combat customer churn driven by price unpredictability, Comcast Corporation rolled out a significant new offering. This nationwide guarantee locks in the monthly rate for five years with no annual contract required. The starting price point for this stability is as low as $55 per month. This new structure is defintely an attempt to simplify the value proposition.

Download Speed	Guaranteed Monthly Price
400Mbps	$55/month
600Mbps	$70/month
1.1Gbps	$85/month
2.1Gbps	$105/month

The guarantee includes unlimited data, but bringing your own hardware for unlimited data adds $30 per month. Furthermore, failing to maintain paperless billing and automatic payments results in an extra charge of $10 each month, or $8 if paying by credit or debit card.

Proactive customer experience improvements through AI-embedded network tools

Proactive service is increasingly managed by machine learning embedded directly into the network fabric. Comcast Corporation's AI systems monitor performance metrics across the DOCSIS 3.1 infrastructure, ingesting over 1.5 petabytes of telemetry data per day to detect anomalies before they impact customers. This AI-driven network intelligence allows automated systems to reroute traffic and balance loads within milliseconds. This focus on predictive and proactive maintenance aims to reduce the need for in-home technician visits, which have seen a 37% reduction over the past three years.

High-touch, in-person service at Xfinity retail stores and theme park guest services

Despite the digital push, Comcast Corporation maintains a physical presence for high-touch support. As of April 16, 2025, there are 630 Xfinity locations in the United States. For context, California accounts for 80 of these locations, representing about 13% of the total footprint. These stores are positioned as local tech hubs for personalized support. Separately, for its theme park segment, the company opened its most ambitious park, Epic Universe, on May 22, 2025, where guest services are a critical component of the overall customer experience.

Comcast Corporation (CMCSA) - Canvas Business Model: Channels

You're looking at how Comcast Corporation moves its vast array of products-from pipes to premium content-out to the customer base as of late 2025. It's a mix of physical presence, direct digital access, and traditional media distribution, all working together.

Xfinity retail stores and direct sales force for residential services

The physical touchpoints for residential services remain important for hands-on demos and immediate service needs. As of October 26, 2025, Comcast Corporation maintains 611 Xfinity retail store POI locations across the USA. These locations are where you can explore TV, Internet, Voice, and Mobile innovations in an interactive environment, swap equipment, or pay bills.

Comcast Business direct sales and account managers for B2B services

For the B2B side, Comcast Business relies on a direct sales and account management structure targeting SMB, midmarket, and enterprise clients. The unit saw its Business Services Connectivity Revenue increase 6.2% to $2.6 Billion in the third quarter of 2025. The strategy includes expanding its reach through acquisitions; for instance, the purchase of Nitel added 6,600 clients across verticals like financial services, healthcare, and education to their channel distribution strategy.

Peacock direct-to-consumer (DTC) streaming platform

Peacock is the key direct-to-consumer channel for Comcast's content. The subscriber base has scaled significantly; by the end of March 2025, the platform had 41 million paying subscribers, and management guided that it passed 50 million subscribers in early 2025. The financial performance reflects this scale: in Q3 2025, Media EBITDA increased 28.0%, largely driven by Peacock, which narrowed its EBITDA losses to $217 Million-an improvement of $219 Million year-over-year. Revenue for Peacock in Q2 2025 was $1.2 Billion, up 18% from the prior year period. Executives expect Peacock revenue growth to be above 20% for the full year 2025.

NBC and Telemundo broadcast and cable television networks

The broadcast and cable networks serve as a massive distribution and promotional channel, especially for driving audiences to Peacock. Following the spin-off of most linear cable networks into the entity now called Versant, Comcast Corporation retained core broadcast and key entertainment assets within NBCUniversal.

The remaining core broadcast and content channels include:

• NBC broadcast network and its owned stations, like WMAQ-TV in Chicago.
• Telemundo, the Spanish-language network, and its owned stations, including WSNS-TV.
• Bravo, a high-rated cable network.

These primary networks, specifically NBC and Bravo, collectively reach 100 million U.S. households monthly, which helps power the Peacock streaming service.

Universal Destinations & Experiences physical theme park locations

The physical theme parks are a critical channel for monetizing Intellectual Property (IP) through experiences. Universal Destinations & Experiences operates 5 established resort locations serving China, Japan, Singapore, and the United States. The newest channel addition is the debut of Epic Universe in Orlando on May 22, 2025.

Here's a look at the financial performance and scale:

Metric	Data Point	Context/Period
Theme Parks Revenue	$2.72 Billion	Q3 2025
Revenue Year-over-Year Change	+18.7%	Q3 2025
Theme Parks EBITDA	$958 Million	Q3 2025
EBITDA Year-over-Year Change	+13.1%	Q3 2025
Total Visitors (All Parks)	57 million	2023
Number of Parks Operated	5	As of late 2025 (excluding new additions like Epic Universe in initial reporting)

The opening of Epic Universe, which features five immersive worlds, is transforming Universal Orlando into what Comcast calls a premier weeklong destination.

Comcast Corporation (CMCSA) - Canvas Business Model: Customer Segments

You're looking at the core groups Comcast Corporation (CMCSA) serves as of late 2025, based on the latest reported figures from the third quarter of 2025. The business model clearly segments its market across connectivity, enterprise, international, media, and experiences.

Domestic Residential Consumers (broadband, video, mobile) represent the foundational base, though it's a base under pressure in traditional video and broadband, offset by significant wireless growth.

• Total domestic wireless lines reached 8.9 million as of Q3 2025.
• The company added a record 414,000 wireless lines in Q3 2025 alone.
• Total domestic broadband connections stood at 31.4 million connections at the end of Q3 2025.
• Domestic video customers declined to 11.52 million subscribers in Q3 2025.
• The wireless penetration of the residential broadband base surpassed 14% by Q3 2025.

Metric	Q3 2025 End Count/Result	Net Change (QoQ/YoY Context)
Total Domestic Wireless Lines	8.9 million lines	Added 414,000 lines in Q3 2025
Total Domestic Broadband Customers	31.4 million connections	Net loss of 104,000 customers in Q3 2025
Total Domestic Video Customers	11.52 million subscribers	Net loss of 257,000 customers in Q3 2025

Small and Medium-sized Enterprises (SMEs) and large Enterprise/Public Sector clients show resilience, with growth in advanced service adoption.

• Business Services Connectivity revenue grew by 6.2% year-over-year in Q3 2025.
• Business Services Connectivity revenue reached $2.6 billion in Q3 2025.
• Total Connectivity & Platforms Customer Relationships stood at 51.2 million in Q3 2025, down 349,000 sequentially.

International Residential Customers in the U.K. and Italy (Sky) are now reported within broader international connectivity figures, reflecting a strategic shift away from granular segment reporting.

The International Connectivity Customer Relationships saw an increase from 17,638,000 to 17,698,000 in Q2 2025. Sky Group in the UK has seen its workforce fall by about 3,000 roles since 2023 as it transitions services.

Global Viewers and Advertisers across media and entertainment properties are characterized by streaming growth and cyclical advertising revenue.

• Peacock maintained a paid subscriber base of 41 million as of Q3 2025.
• Peacock revenue for Q3 2025 was approximately $1.36 billion.
• Domestic advertising revenue for Q3 2025 was $1.96 billion, reflecting a 41.3% decline due to the absence of the Paris Olympics revenue from Q3 2024.
• Studio revenue in Q1 2025 rose 3% to $2.83 billion.

Theme Park Guests seeking immersive, location-based entertainment are a major near-term growth driver following the launch of the new Orlando park.

The Theme Parks segment generated revenue of $2,717 million in Q3 2025, marking a 19% uplift year-over-year. The estimated investment in the Epic Universe park is $7 billion. Theme Park Adjusted EBITDA increased to $958 million in Q3 2025, up 13.1% from the prior year.

Finance: finalize the Q4 2025 cash flow forecast by next Tuesday.

Comcast Corporation (CMCSA) - Canvas Business Model: Cost Structure

You're looking at the major drains on Comcast Corporation's cash flow as of late 2025, which is critical for understanding their capital allocation strategy.

Significant Capital Expenditures (CapEx) for network infrastructure and upgrades represent a massive, ongoing commitment. For the third quarter ending September 30, 2025, Comcast reported total Capital Expenditures of $3.748B. The Connectivity & Platforms segment drove a significant portion of this, with its CapEx increasing 19.5% to $2.3 billion, which Comcast attributed primarily to higher spending on scalable infrastructure and customer premise equipment. This heavy investment is necessary to maintain the broadband foundation against competitive pressures. Conversely, Content & Experiences' CapEx decreased 19.9% to $714 million, largely because the construction for Epic Universe in Orlando was nearing completion following its May 2025 opening.

The costs associated with content are substantial, especially for NBCUniversal and Peacock. While specific Q3 2025 programming cost figures aren't explicitly detailed in the latest reports, we see cost trends in the preceding quarter. For instance, in Q2 2025, programming expenses decreased, primarily due to a lower number of domestic video customers, though this was partially offset by rate increases under domestic programming contracts. This highlights the dynamic nature of content costs, which are heavily influenced by subscriber trends and contract negotiations.

Theme parks involve significant operating expenses, though the segment showed strong financial results. For Q3 2025, Theme Parks EBITDA increased 13.1% to $958 Million, fueled by the opening of Epic Universe. This strong EBITDA suggests that while fixed costs like labor and maintenance are high, the new attraction is successfully driving revenue to cover those costs and contribute positively to the segment's profitability.

Marketing and sales costs are a direct lever used to drive customer additions, particularly in the wireless space. Comcast noted that non-programming expenses in Q3 2025 included higher marketing and promotion costs, driven by new broadband and mobile offers introduced in April 2025. The success of this spending is evident in the record 414,000 domestic wireless customer line net additions in Q3 2025 alone.

The cost of streaming content is best viewed through the lens of Peacock's performance. Comcast Corporation is actively managing this cost base, and the effort is showing results. For Q3 2025, Peacock's EBITDA losses were $217 Million, a significant improvement of $219 million compared to the prior year period, when the loss was $436 million. This demonstrates a clear, measurable reduction in the high cost associated with building out the streaming service, even as subscriber growth remained flat at 41 million paid subscribers for the quarter.

Here's a quick look at the key Q3 2025 financial metrics related to cost and investment:

Cost/Investment Category	Amount (Q3 2025)	Segment/Context
Total Capital Expenditures	$3.748B	Consolidated
Connectivity & Platforms CapEx	$2.3 billion	Network Infrastructure/CPE
Content & Experiences CapEx	$714 million	Reflecting Epic Universe opening
Peacock EBITDA Loss	$217 Million	Streaming Content Cost
Peacock Loss Improvement (Y/Y)	$219 Million	Profitability Management
Theme Parks EBITDA	$958 Million	Reflecting Operating Costs/Revenue

The overall cost structure is clearly bifurcated between the heavy, ongoing CapEx for the Connectivity business and the substantial, but improving, content and marketing spend for the Media business. You see this trade-off reflected in the segment results:

• Connectivity & Platforms Adjusted EBITDA was $8.0 billion, down 3.7% year-over-year, despite increased CapEx.
• Media EBITDA increased 28.0% to $832 Million, driven by Peacock's loss reduction.

Finance: draft 13-week cash view by Friday.

Comcast Corporation (CMCSA) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Comcast Corporation's business, which is really a collection of distinct, powerful engines working together. Honestly, it's a mix of subscription stability and high-growth content plays.

The core of the operation still comes from keeping homes and businesses connected. Residential Connectivity subscriptions-that's your broadband, video, voice, and mobile services-form the foundation. For Q3 2025, Residential Connectivity & Platforms revenues were reported at $20.2 billion, though the Residential portion specifically saw a 1.5% decline to $17.60 billion. This dip reflects the strategic shift away from legacy video and toward wireless, which is definitely gaining traction.

The growth story in connectivity is clearly wireless. Domestic wireless revenue grew 14.0% to $1.25 billion in the quarter, with total domestic wireless lines reaching 8.9 million. Comcast added a record 414,000 domestic wireless customer lines in Q3 2025, which is a huge win for their converged offering strategy.

Business Services Connectivity revenue is another solid pillar, growing 6.2% to $2.6 billion in Q3 2025. That growth shows their enterprise focus is paying off, even as the residential side navigates cord-cutting.

The Content & Experiences segment provides the high-margin upside and brand power. Here's a quick look at the Q3 2025 revenue drivers for this segment:

Revenue Source	Q3 2025 Revenue Amount (Approximate)	Year-over-Year Change
Theme Parks Revenue	$2.7 billion	18.7% increase
Peacock Revenue (Media)	$1.4 billion	Not explicitly stated, but Media revenue grew 4.2% excluding Olympics impact
NBCUniversal Studios Revenue	$3 billion	6.1% increase

Theme Parks revenue jumped 18.7% to $2.7 billion, fueled by the May opening of Epic Universe in Orlando. Plus, the success of Jurassic World Rebirth contributed nearly $900 Million in worldwide box office revenue year-to-date, which feeds into the Studios revenue stream.

For Media, content licensing, distribution, and advertising are key. Peacock is showing progress, posting $1.4 billion in revenue for the quarter. The overall Content & Experiences segment generated $11.7 billion in revenue for Q3 2025, though this was down 6.8% year-over-year, largely due to the unfavorable comparison against the prior year which included the Paris Olympics revenue.

The overall picture for the full fiscal year is based on analyst expectations as of late 2025:

• Projected total revenue for FY2025 is around $126 billion (consensus).
• Total Content & Experiences Adjusted EBITDA grew 8.4% to $1,953 Million in Q3 2025.
• Connectivity & Platforms segment generated $20.2 billion in Q3 2025 revenue.
• Domestic broadband revenue increased 0.5% to $6.433 billion in Q3 2025.

You can see the revenue streams are diversified, which helps balance the cyclical nature of media and the competitive pressures in connectivity. Finance: draft 13-week cash view by Friday.