4. Comcast Corporation (NASDAQ:CMCSA)
Number of Hedge Fund Holders In Q2 2024: 61
Share Price: $41.02
Comcast Corporation (NASDAQ:CMCSA) is one of the biggest internet and television broadcasters in the US. This has allowed the firm to amass significant financial resources, as evidenced by its cash and equivalents of $6 billion. Comcast Corporation (NASDAQ:CMCSA)’s two key industries are television broadcast and internet coverage. While it serves 32 million customers, retaining them will be key to the firm’s hypothesis moving forward. Comcast Corporation (NASDAQ:CMCSA)’s broadband industry is being disrupted by satellite internet providers such as SpaceX’s Starlink and fixed wireless providers which could make it difficult for the firm to hold on to its customers. Any indications that it is losing customers could translate into share price headwinds. Comcast Corporation (NASDAQ:CMCSA) late entrant in the streaming market through Peacock. This has meant that the firm continues to lag behind industry leaders at a time when home movie streaming is gaining popularity over feature films. However, the firm can leverage its size to sign mega deals and attract users to streaming.
During the Q2 2024 earnings call, Comcast Corporation (NASDAQ:CMCSA)’s management shared its plans for one such mega deal:
“Our expectation is that soon an 11-year rights deal between ourselves and the NBA will be announced. We don’t believe that the resolution of matching rights will affect the package that we expect to be awarded. This package, which begins with the 2025-2026 season includes: 100 NBA games each regular season across NBC and Peacock, which is more than any other media partner and more regular season games than each existing partner has under the current rights deal; for playoffs, we will have first and second round games each year, exclusively on our national platforms and six NBA conference final series over the course of the term of the deal, which is more playoff games on average each year, than any other media partner; and exclusively for Peacock will be approximately 50 national regular season and post-season games, including National Monday Night games and doubleheaders.
Additional elements of the NBA package include the annual NBA All-Star Game and All-Star Saturday Night each season, the season opening NBA tip-off doubleheader each season, a special doubleheader on the MLK holiday, and Select NBA games in every NBA All-Star game on Telemundo. Beyond the NBA itself, we’re excited that our package includes WNBA, where starting in the spring of 2026, we’ll have more than 50 WNBA regular season and first round playoff games each season across Peacock, NBC and USA, and we’ll also have games in seven WNBA Conference semifinals and three WNBA Final series; for USA Basketball, we’ll have the rights to USA men’s and women’s games leading up to the Olympics and FIBA World Cup; Sky Sports will air all of NBCUniversal’s NBA and WNBA games in its markets; and finally, Xfinity will be the NBA and WNBA’s marketing partner in the video category.”
