Comcast’s chairman and CEO Brian Roberts says he hopes to continue his business in the US market despite the growing political and economic turmoil.
“I remain an optimist, clearly seeing the world around us. And there’s instability. Roberts told Morgan Stanley Technology, Media Telecom Conference on Tuesday.
US President Donald Trump imposed tariffs wiped out on goods imported from Canada and Mexico on Tuesday, leading to continued market turmoil and the possibility of a global trade war. Roberts cited Sky Business from UK-based Comcast, but otherwise concentrated his remarks on the American market. “Most businesses are here, and this is the best country you can grow your business,” Roberts argued.
The Comcast boss also spoke about the future of NBCuniversal after the Select Cable Networks spinoff. He’s MSNBC, CNBC, Syfy, E! , spoke before NBCuniversal’s cable channels that included cable channels such as Oxygen, Golf Channel, USA Network, and other spin-off companies.
This will focus on six growth drivers from NBCuniversal, including Peacock, Premium Streaming Service, Broadband, Wireless, Business Services and theme parks. “These six businesses have healthy margins, healthy growth, creative, and that’s our future,” Roberts told investors.
At the same time, he argued that the media conglomerate was responding to increasing competition and industry disruption without complacency. “I think there’s a place where we can improve, but now I feel like it’s urgent, thoughtful and intentional throughout the company,” added Roberts.
The conglomerate that owns NBCuniversal is set up to separate less favorable cable networks from unpaid entertainment and park businesses to address the declining television space. “What we saw is a drum beat to more and more entertainment, especially sports going streaming,” Roberts said, not being dragged into the once dominant cable television business, seeing NBCuniversal first.
Roberts said the spinoff transaction came from Mike Cavanagh, the president of Comcast, instead of his idea. He argued that the cable brand, which is part of Spin Co., has not contributed to the Peacock streaming service to the expected extent and needs another way to survive and thrive.
“We’ve since looked at the remaining NBCUs with around $40 billion in revenue and are gaining the size to be a strong company,” Roberts added about what could emerge after Comcast splits the cable channels from the rest of its media assets. On the entertainment side that was filmed, NBCuniversal runs the film and television business together.
“If you’ve never seen NBC Jackal or America Day, there’s great content. Since then, you’ve sold a lot of that content to Netflix or Amazon or Apple or Max,” Roberts said. He also worked to get the NBA and Peacock to gain NBA rights for the first time since 2002 under a new contract with the Pro Basketball League.
“We saw the NBA and said there was a big hole in the Peacock schedule to slow down churn and build something in the long run,” he insisted.
