Comcast Reports 2007 Results and Provides Outlook for 2008

Thursday, February 14th, 2008
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PHILADELPHIA — Comcast Corporation (Nasdaq: CMCSA, CMCSK) today reported results for the quarter and the year ended December 31, 2007.

Video

  • Added 2.5 million new digital cable subscribers in 2007 – 33% growth over last year
  • 6.3 million, or 42%, of our digital cable subscribers took advanced services such as digital video recorders (DVR) and high-definition television (HDTV) compared to 4.5 million, or 36%, a year ago

Video revenue increased 7% to $17.7 billion in 2007, reflecting growth in digital cable customers and increased demand for advanced digital features including ON DEMAND, DVR and HDTV, as well as higher basic cable pricing.

Basic cable subscribers decreased by 180,000, or 0.7%, to 24.1 million during 2007 with 15.2 million or 63% of video customers taking digital cable services. Comcast added a record 2.5 million digital cable customers in 2007, an increase of 33% from the 1.9 million digital cable customers added in 2006. Digital cable customer additions in 2007 included 1.0 million full digital cable and 1.5 million digital starter subscribers.

During the year, 1.8 million additional digital cable customers subscribed to advanced services, like DVR and HDTV, either by upgrading their digital cable service or as new customers. As of December 31, 2007, 6.3 million, or 42% of our digital cable customers received advanced services, 5.4 million, or 36% received full digital cable, and 3.5 million, or 23% were digital starter subscribers.

Growth in video revenue also reflects increasing ON DEMAND movie purchases. Pay-per-view revenue increased 22% to $774 million in 2007.