46.60 -0.08 (-0.17%)
Pre-Market: 8:11AM EDT
|Bid||0.00 x 1400|
|Ask||47.49 x 3100|
|Day's Range||46.57 - 47.16|
|52 Week Range||32.61 - 47.27|
|Beta (3Y Monthly)||0.99|
|PE Ratio (TTM)||17.83|
|Earnings Date||Oct 24, 2019|
|Forward Dividend & Yield||0.84 (1.79%)|
|1y Target Est||49.42|
Netflix co-founder says competitive streaming pricing is a "great thing" as Apple TV+, Disney+ prep November launches
Video-streaming space gets increasingly crowded as Comcast and Facebook join the bandwagon. However, intensifying price war and fight for exclusive rights are threats.
Roku (ROKU) shares closed down almost 14% on Wednesday as social media giant Facebook (FB) announced that they would be jumping on the streaming bandwagon.
Comcast today announced that Xfinity Flex is now included with an Xfinity Internet-only subscription, providing millions of new and existing customers with the ability to easily access their favorite streaming services and manage their connected home devices right on the TV. Xfinity Flex leverages Xfinity X1 technology to deliver a truly differentiated platform and add incredible value for streaming-first Internet customers. Xfinity Flex comes with an Internet-connected, 4K UHD streaming TV device, the award-winning Xfinity Voice Remote, a redesigned guide, and nearly 10,000 free movies and TV shows.
The S&P 500 ended marginally higher on Wednesday after Federal Reserve policymakers cut interest rates by a quarter of a percentage point, as expected, but gave mixed signals about their next move. With continued economic growth and strong hiring "the most likely outcomes," the Fed nevertheless cited "uncertainties" about the outlook and pledged to "act as appropriate" to sustain the expansion. Stocks sold off immediately after the Fed's announcement but rebounded during Chairman Jerome Powell's press conference.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.
Roku (ROKU) shares have fallen close to 7% in early market trading today. Investors are worried after Comcast (CMCSA) announced Xfinity Flex.
Comcast Business today announced that John L. Scott Real Estate, one of the top 20 residential real estate brands in the nation, relies on Comcast’s high-speed Business Internet for quick, reliable service.
Roku's stock tumbled nearly 14% and was on track for its worst one-day loss since March as investors reacted to the increased competition against the Silicon Valley company's own streaming products. Roku's stock has surged over 300% in 2019 and recently traded at almost 13 times expected sales, according to Refinitiv data. "We are having a tough time justifying Roku's valuation, especially facing such substantial competitors as Amazon, Apple and Google.
Peacock, which will also offer classic sitcoms like "The Office" and "Parks and Recreation", is scheduled to launch in 2020, NBCUniversal said. The company owns traditional television network NBC, whose logo features a peacock.
(Bloomberg Opinion) -- AT&T Inc. is a very different company today from the wireless-service provider it was five years ago. CEO Randall Stephenson, who transformed AT&T by acquiring pay-TV and media assets such as HBO, is now eyeing retirement. It raises the question of whether the man who appears to be the next in line – John Stankey, another three-decade veteran of the phone business – is the right person for the job.Stephenson, who has been at the helm since June 2007, is interested in stepping down as soon as next year, the Wall Street Journal reported Friday, citing unnamed sources. For much of his 37 years at the telephone giant, Stephenson has worked alongside Stankey, who he’s been priming to take over as the next CEO. While speaking at an investor conference Tuesday morning, he praised Stankey’s leadership, saying that he would have to be on “the very short list of people” who could run AT&T’s diverse set of businesses. But Stankey has also emerged as a controversial figure within AT&T, so much so that his recent promotion to the role of chief operating officer is largely what motivated Elliott Management Corp. to press ahead with an activist investor campaign, according to people familiar with the shareholder’s thinking. (Last week, Elliott sent a public letter to AT&T’s board calling for it to review ways to improve earnings and the stock price.)AT&T may benefit from running a broader search for Stephenson’s replacement, and outside pressure led by Elliott may give the board one more reason to do so. The $273 billion company could use someone with more expertise in growing media properties and who’s willing to part with weaker assets that are serving as distractions. While wireless data plans and business connectivity services still drive the bulk of AT&T’s profits, the company generates half its revenue elsewhere, such as pay-TV subscriptions, cable networks and the box office.Under Stephenson, 59, AT&T morphed into a communications and media conglomerate through the 2015 acquisition of DirecTV for $67 billion, followed by last year’s $102 billion takeover of Time Warner, a business unit now called WarnerMedia. Stankey, 56, is in charge of WarnerMedia, in addition to his new duties as COO of AT&T. During Stephenson’s tenure, Stankey has been his go-to for overseeing special projects, such as buying spectrum and helping the Time Warner merger clear the courts.Stephenson has been criticized for his bold dealmaking, and yet I don’t think his plan to reinvent AT&T was inherently bad. He has a vision for the company to be a leader in entertainment, which people are increasingly consuming on mobile devices, and 5G wireless networks like AT&T’s will facilitate more of that. But Stephenson did overpay for DirecTV, and he may have underestimated the challenge of integrating both that business and WarnerMedia, the latest tasks assigned to Stankey. As two executives who have worked in the telephone industry since their early 20s, they perhaps not surprisingly may have difficulty operating media assets, especially at a time when Netflix Inc. has changed what it means to watch TV.AT&T’s lagging stock price looks to be the consequence of an incoherent strategy and an attempt to juggle too many things at once: building 5G, devising a plan for WarnerMedia, paying down debt and managing the decline of the DirecTV satellite business. There have also reportedly been tensions between Stankey and his new Hollywood employees. It’s said that his approach and at times irascible personality have clashed with that of WarnerMedia’s veterans. Richard Plepler, the former HBO boss, is among those who have departed. One can see why Stankey’s attempt to break down silos in WarnerMedia was a necessary step and one that wouldn’t sit well with legacy top brass. And to his credit, he brought in Bob Greenblatt, who formerly ran Comcast Corp.’s NBCUniversal and before that Showtime, to manage WarnerMedia’s entertainment properties and streaming platforms. It also seems likely that Stankey will name a new chief to oversee all of WarnerMedia. Still, it’s concerning that more of HBO’s top people are said to be leaving in the next few weeks, in part due to frustrations with Stankey, as NBC News reported Tuesday morning.The capstone project of Stankey’s WarnerMedia integration is HBO Max, a Netflix-like streaming-TV service that’s expected to launch next spring. Plans for that service seem to be ever-changing, and Stankey’s handling of the roll-out stands in contrast to Walt Disney Co.’s meticulous approach to the Disney+ app, which launches Nov. 12. WarnerMedia also recently struck a production deal with director J.J. Abrams for an exorbitant amount of money that a company like Disney probably wouldn’t have offered, as I wrote last week. A key date for Stankey and WarnerMedia is Oct. 29, which is when investors will get a first look at HBO Max.The topic of succession is a valid concern. Any conglomerate could benefit from having a CEO for whom there are no sacred cows. At best, Stankey may promise more of the same, which investors haven’t been that pleased with lately. At worst, he could be at risk of botching AT&T’s transformation. His compensation looks high when viewed through that lens. After the Time Warner deal closed in June of last year, Stankey’s base salary more than doubled to $2.9 million, which AT&T said was “to reflect the increased scope and complexity of his new role as CEO of WarnerMedia.” He also received a $2 million “merger completion bonus.” Including stock grants and performance-linked awards, Stankey’s total realized compensation was $12.74 million. That was 89% higher than what John Donovan, the outgoing CEO of AT&T Communications – a division larger than WarnerMedia – earned in 2018. (1)The Wall Street Journal reported that the board supports Stankey, citing a person familiar with its thinking who said there aren’t many outside the company “who would be obvious candidates to run a complicated media and communications business.” But isn’t it at least worth looking around? And if the answer is that no one is capable of doing it, then perhaps all these businesses don’t belong together.(1) Stephenson earned $18.84 million. AT&T hasn’t said yet how Stankey’s pay will be adjusted to reflect his COO promotion.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Xfinity Communities today announced that it will provide residents of Vantage – an amenity-rich, off-campus housing property for Temple University students – with technology and entertainment solutions. Immediately upon move-in, residents will have access to secure property-wide WiFi and streaming video on any device. Designed and built by The Goldenberg Group, Vantage offers 984 residents a wide variety of the latest and most popular amenities including a community and game room, golf simulator, fitness center, and study lounge.
(Bloomberg) -- NBCUniversal revealed the name and initial lineup for its new online TV platform, aiming to challenge Netflix Inc. and other streaming rivals with more than 15,000 hours of programming.The service, slated to debut in April 2020, will be called Peacock, a tip of the hat to NBC’s logo. It will include reruns of NBC shows, including “The Office” and “Parks and Recreation,” as well as a slate of original shows, the Comcast Corp. division said on Tuesday.Peacock will join a crowded field of streaming services, all of which are fighting for TV viewers’ eyeballs and wallets. Walt Disney Co. and Apple Inc. are both launching offerings in November, while AT&T Inc.’s WarnerMedia is readying a product for early next year.Peacock’s original programming will include a “Battlestar Galactica” reboot from “Mr. Robot” creator Sam Esmail and the drama “Dr. Death” starring Alec Baldwin. It also will feature comedies from the likes of Jimmy Fallon, Seth Meyers and Lorne Michaels.The company will draw heavily on its vault of content. In addition to streaming reruns, Peacock will reboot the comedies “Saved by the Bell” and “Punky Brewster.”Peacock also will offer more than 3,000 hours of Spanish-language programming from Telemundo.To contact the reporter on this story: Nick Turner in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Netflix's (NFLX) acquisition of streaming rights of popular comedy Seinfeld will help it fill up the gap in its content portfolio post the departure of shows like Friends and The Office.
Comcast Business today announced new enhancements to the digital experience of the Comcast Business ActiveCore℠ software defined networking (SDN) platform that give enterprise users the flexibility to monitor their networks across multiple locations, branch offices or data centers anywhere, on any device or even, with the sound of their voice. The ActiveCore SDN platform now allows enterprises to take advantage of voice-enabled technologies to request and receive real-time network updates using any Amazon Alexa-enabled device. With simple voice commands, such as "Alexa, open ActiveCore" or "Alexa, ask ActiveCore, how my network is doing,” customers are provided insights into what is happening across their entire network, including sites that are up or down.
Comcast today announced Xfinity Mobile will offer the latest products from Apple, including iPhone 11 Pro and iPhone 11 Pro Max, a new pro line for iPhone, as well as the new dual-camera iPhone 11. Through October 27, customers get $250 back when they purchase a new iPhone, activate a new line, and port their number to Xfinity Mobile. Customers will be able to preorder iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max beginning Friday, September 13, at XfinityMobile.com.
(Bloomberg Opinion) -- Careful, AT&T, those Hollywood lights can be blinding. The industry newbie has just struck an eye-popping deal with sought-after director J.J. Abrams to bring more of his movie magic to the telephone-giant-turned-media-conglomerate. AT&T Inc.’s offer amounted to: Dear J.J., please take this wheelbarrow of money. The deal between AT&T’s new WarnerMedia division and the Bad Robot production company, led by husband-and-wife team Abrams and Katie McGrath, is reported to be worth more than $250 million. That’s after Apple Inc. bid $500 million, according to Hollywood Reporter, though Abrams was said to have turned down that offer in part because he wanted to maintain a large box-office presence. With WarnerMedia, Abrams can create content for both the big screen and online-streaming properties. Bad Robot has previously produced hits such as “Star Wars: The Force Awakens,” and the shows “Lost” and “Alias.” The outrageous sums that AT&T and reportedly Apple put forth are emblematic of the escalating arms race for content. Entertainment giants – those new to the business, in particular – are trying to secure hit TV series and films for new streaming-video services launching in the coming weeks and months to compete with Netflix. Apple TV+ is set to be released Nov. 1, followed by Disney+ on Nov. 12 and AT&T/WarnerMedia’s HBO Max next spring. (Last year, AT&T acquired WarnerMedia, formerly called Time Warner, the parent of Warner Bros., HBO, CNN, TBS and other networks.) While most of these relatively low-priced subscriptions are years away from being able to turn a profit, the media giants are willing to bear the cost and pay up for the content to attract and keep customers.But WarnerMedia also threw in an unusual perk for Abrams: He gets to own potentially as much as a 50% stake in the projects he creates for the company, according to NBC News. The inclusion of a term like that, combined with the value of the contract, makes the deal look like a rookie move by WarnerMedia and the executive spearheading its streaming strategy, John Stankey, a three-decade veteran of AT&T’s phone business. Either that or desperation. Virtually no other media or tech giant would likely agree to give up those content rights. In fact, Walt Disney Co. is moving to cut back on the profits it shares with showrunners and stars after hit series pass the crucial 100-episode mark and enter into lucrative syndication deals, according to the Los Angeles Times. Disney wants control over that future licensing windfall, preferring to instead divide profits earlier on, when they aren’t quite as big.It’s no wonder that after Disney, Comcast Corp., Viacom Inc., Sony Corp. and Netflix Inc. were all said to have looked at Bad Robot, AT&T and its new media moguls landed the deal. Stankey, known for a brusque management style, has already had a rough start when it comes to gaining the respect of his new media employees and shaping the vision for WarnerMedia. It's part of the reason shareholder Elliott Management Corp. launched an activist campaign at AT&T this week, calling for more operational focus and a clearer strategy. AT&T CEO Randall Stephenson recently promoted Stankey to chief operating officer in addition to his role presiding over WarnerMedia specifically.Stankey and Stephenson aren’t the only industry outsiders starstruck by Hollywood and feeling the pressure to pay whatever’s necessary to expand streaming-app libraries and keep viewers from canceling subscriptions. Apple TV+ has reportedly dished out $300 million for the first two seasons of “The Morning Show,” an original series starring big names like Jennifer Aniston and Reese Witherspoon. Disney+ spent about $15 million on each episode of its “Star Wars” series, “The Mandalorian,” which adds up to the cost of a big-budget film. But AT&T’s leaders are showing their inexperience in the world of content and entertainment, driving away key internal personnel while so eagerly courting Abrams. The company’s post-deal turnover was punctuated by the high-profile exits of HBO’s Richard Plepler and Turner’s David Levy earlier this year.In reporting on the Abrams deal, Bloomberg News also uncovered an interesting detail about what actually happened to Kevin Tsujihara. He’s the former head of Warner Bros. who left in March amid a sex scandal involving an actress with whom he was having an affair and was accused of helping to land film roles. At first it seemed like Tsujihara was going to stay on despite the scandal, and in fact he had even just been promoted by Stephenson. However, Bloomberg reports that Abrams’s wife, McGrath, essentially gave AT&T an ultimatum, saying that’d it be hard for Bad Robot and WarnerMedia to work together if Tsujihara was there. It all makes sense now.As for the deal, Stankey had better hope Bad Robot makes good movies, because it seems none of his industry peers were willing to offer what he did. To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Comcast stock has risen 1.17% as of 10:31 AM ET today. The stock also hit its 52-week high of $47.23. The stock has generated phenomenal returns YTD.
(Bloomberg) -- AT&T Inc.’s WarnerMedia reached a production deal with superstar director J.J. Abrams, locking in one of Hollywood’s hottest filmmakers as it prepares to do battle with streaming services from Netflix Inc. and Walt Disney Co.Abrams, whose film credits include recent versions of “Star Wars” and “Star Trek,” will create original TV shows, movies and games for the studio through 2024, according to a statement Thursday. Financial terms weren’t revealed.The signing highlights the increasingly fierce competition for talent among Hollywood’s biggest media companies, including newer players like Netflix and Amazon.com Inc. Last year, WarnerMedia signed Greg Berlanti, producer of shows like “Riverdale” and “The Flash,” with a contract topping $300 million.The New York Times said in June that Abrams was likely to get a $500 million deal. But the contract was ultimately worth closer to $250 million, the Hollywood Reporter said on Thursday.The WarnerMedia pact builds on a TV relationship with Warner Bros. that began in 2006. But Abrams’s production company, Bad Robot, will honor its existing obligations to Paramount Pictures.Talent BattleOver the past couple years, Netflix has managed to cinch deals with top TV producers including Ryan Murphy and Shonda Rhimes. That’s given leverage to big-name filmmakers and showrunners, especially as studios need more content than ever.Hollywood’s legacy companies are pushing into streaming to survive in an age when traditional pay-TV customers are canceling service for cheaper online alternatives. WarnerMedia, Disney and Comcast Corp.’s NBCUniversal all offer or plan to offer paid streaming services.Abrams has directed some of Hollywood’s highest-profile films, including “Star Wars: The Force Awakens,” which took in $2.07 billion in worldwide ticket sales. His next “Star Wars” movie, “The Rise of Skywalker,” is due in theaters on Dec. 20.To contact the reporter on this story: Lucas Shaw in Los Angeles at firstname.lastname@example.orgTo contact the editor responsible for this story: Nick Turner at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Comcast Corporation will host a conference call with the financial community to discuss financial results for the third quarter on Thursday, October 24, 2019 at 8:30 a.m. Eastern Time .