Comcast (CMCSA)
Connectivity, streaming, film and theme parks spanning Xfinity, NBCUniversal, Peacock and Universal.
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Comcast is a bundle of home internet and television bills, business connections, television networks, movie studios, streaming and theme parks. The whole machine still hangs on Xfinity internet and monthly household bills, but that base is shrinking while mobile, Peacock, business services and parks grow. A planned split would eventually separate much of the media and Sky side from the connectivity core.
Item facts: FY2025 · year ended Dec 31, 2025, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
9 in detail · 14 more below
Xfinity Internet
The household broadband line that anchors Xfinity brought in $25.84 billion in FY2025. Customers were still slipping in mid-2026, so the watchpoint is whether faster service and bundles can slow departures.
Competes with Fios Internet (Verizon) · 5G Home Internet (Verizon) · AT&T Fiber (AT&T)
In plain English
Start with the wire into the house. Xfinity Internet carries a household's web traffic over Comcast's own local network, and the customer pays a monthly bill for the connection and usually a rented home internet box.
Once that wire is in place, carrying more traffic costs Comcast relatively little. It also becomes the hook for selling mobile service, television and home protection on one bill. That makes internet the sturdy floor under the bundle, even as newly laid cables and home internet delivered over cellular networks win customers while cable loses them.
Xfinity X1, Sky Q, Sky Stream and Sky Glass
Television packages and viewing devices generated $26.39 billion in FY2025. The bills remain large, but viewers keep leaving traditional bundles for internet-delivered substitutes, making the pace of that decline the number to watch.
Competes with YouTube TV (Alphabet) · Hulu + Live TV (Disney)
In plain English
Think of this as the familiar television bundle: many live channels, a box or streaming device and extras such as movie rentals gathered on one bill. Xfinity sells it in the United States; Sky serves European homes with its own boxes and screens.
Households pay each month for access and equipment, then Comcast passes a meaningful slice to television networks and sports leagues for their programs. The bundle also gives people another reason to keep Comcast internet. That old flywheel is weakening as less committed online packages make it easier to cancel.
Xfinity Mobile
Mobile service attached to Xfinity homes produced $4.97 billion in FY2025. Service revenue was growing in mid-2026; the test is whether free introductory lines turn into lasting paid ones.
Competes with Spectrum Mobile (Charter) · Postpaid wireless (Verizon) · Postpaid wireless (T-Mobile US)
In plain English
Comcast sells a phone plan without building a nationwide cellular network of its own. It rents access from established mobile carriers, steers some traffic through Xfinity Wi-Fi and puts the phone charge beside the household's internet bill.
That arrangement is like selling seats on someone else's train: Comcast avoids laying every track but must pay the track owner as customers travel. Discounted or free starter lines help fill the train. Profit depends on those users eventually paying, staying with the bundle and not using so much cellular data that Comcast's bill from the network owner swells.
Sky Broadband and Sky Mobile
Sky's European internet and mobile offers generated $4.96 billion in FY2025. They lean on other companies' networks and a television-led bundle; the planned separation now makes continuity as important as customer growth.
Competes with BT Full Fibre (BT Group) · Gig1 and Gig2 Broadband (Virgin Media O2)
In plain English
Across Europe, Sky adds home internet and mobile service to households that often came for television first. A customer gets one familiar seller and a combined package, while Sky usually buys the underlying connection from another network operator.
Picture a shop that stocks another maker's pipes but owns the storefront and customer relationship. Sky earns the gap between the monthly price and what it pays the network, helped when television viewers add another service. Those economics depend on the prices Sky negotiates with network owners, and the intended company split adds a handoff to manage.
NBC, Telemundo, Bravo and Sky Sports
Broadcast and cable networks sell audiences to advertisers and access to distributors. After taking Peacock out, second-quarter 2026 sales imply roughly a $15 billion yearly pace, but shrinking traditional audiences keep pressure on that base.
Competes with ABC and ESPN (Disney) · CBS and Paramount+ (Paramount) · Fox and Tubi (Fox)
In plain English
These are the channels and live programs viewers recognize, from general entertainment to news and sports. Comcast pays leagues, producers and performers to fill the schedule, then sends it through local stations, television distributors, Peacock and Sky.
Money arrives from two doors. Advertisers pay to place messages in front of the audience, while distributors pay for permission to include the channels in household packages. Big live events can still gather a crowd, but every household that abandons traditional television narrows the dependable stream of access fees.
Peacock
Peacock combines paid streaming with advertising and made $5.4 billion in FY2025. It reached its first profitable quarter in mid-2026, but management cautioned that one quarter was not a steady pattern.
Competes with Netflix Standard with ads (Netflix) · Paramount+ Essential (Paramount) · Hulu (Disney)
In plain English
Peacock puts NBCUniversal shows, movies, news and sports into an app people can watch without a traditional television package. Some viewers pay a monthly fee, advertisers pay to appear around what they watch, and Xfinity and Sky help place the service in homes.
It works like a cinema with both tickets and sponsored screenings: a larger audience supports both kinds of payment, but the program bill must stay under control. Sports and fresh shows attract viewers; keeping them after a big event, without overspending on rights, decides whether recent progress lasts.
Universal Destinations & Experiences
Universal's parks generated $9.84 billion in FY2025, helped by the new Epic Universe gate. Revenue kept rising in mid-2026, yet softer attendance and lower earnings showed that a bigger park does not guarantee fuller parks.
Competes with Walt Disney World Resort (Disney) · SeaWorld Orlando (United Parks & Resorts) · LEGOLAND Florida Resort (Merlin)
In plain English
Here the product is a day inside a built world. Families and travelers pay to enter Universal parks, then spend again on hotels, food and merchandise. Comcast operates destinations in Orlando and Hollywood and participates in parks in Japan and Beijing.
New rides and entire new parks can lift both capacity and the reason to visit; Epic Universe expanded Orlando in May 2025. But this is a physical business with builders, ride equipment and staff to pay before every guest arrives. Vacation budgets, weather and the freshness of attractions determine how hard those assets work.
Comcast Business
Internet, office networks and security for organizations produced $10.21 billion in FY2025. Signed fixed-price work equals roughly half a year's revenue for this business, mostly due within two years, giving this growing line some visibility.
Competes with Virtual Network Services–SD WAN (Verizon Business) · Flexible SD-WAN (Orange Business)
In plain English
The unglamorous part that keeps offices connected. Comcast Business supplies internet and phone links to small companies, then adds help running the web of connections between bigger companies' locations, online services and security tools.
A corner shop may simply pay a monthly access bill; a larger customer may sign a fixed-price agreement covering many sites and ongoing management. Comcast earns recurring fees for keeping those links available and secure. Its reach, response when something breaks and ability to connect scattered offices are what keep customers paying.
Universal Pictures, DreamWorks Animation, Illumination, Focus Features and Universal Studio Group
Universal's film and television studios earned $8.08 billion from outside customers in FY2025. Each year's batch of releases is uneven, while the deep library can keep earning through cinemas, networks, streaming services and home viewing.
Competes with Walt Disney Studios Motion Pictures (Disney) · Warner Bros. Pictures (Warner Bros. Discovery) · Sony Pictures Motion Picture Group (Sony)
In plain English
A studio spends first and learns the result later. These studios hire creative teams, make films and television series, market them, and then sell tickets or permission to show the work. Cinemas, networks, streaming services and home viewers all become paying outlets.
The lasting asset is the shelf: a library of more than six thousand five hundred films can be licensed again, placed on Peacock or turned into park attractions. Fresh hits refill that shelf and can travel across several Comcast businesses, but a weak run of releases still makes any single year unpredictable.
Xfinity InternetThe household broadband line that anchors Xfinity brought in $25.84 billion in FY2025. Customers were still slipping in mid-2026, so the watchpoint is whether faster service and bundles can slow departures.The household broadband line that anchors Xfinity brought in $25.84 billion in FY2025. Customers were still slipping in mid-2026, so the watchpoint is whether faster service and bundles can slow departures.
In plain English
Start with the wire into the house. Xfinity Internet carries a household's web traffic over Comcast's own local network, and the customer pays a monthly bill for the connection and usually a rented home internet box.
Once that wire is in place, carrying more traffic costs Comcast relatively little. It also becomes the hook for selling mobile service, television and home protection on one bill. That makes internet the sturdy floor under the bundle, even as newly laid cables and home internet delivered over cellular networks win customers while cable loses them.
Competes with Fios Internet (Verizon) · 5G Home Internet (Verizon) · AT&T Fiber (AT&T)
Xfinity X1, Sky Q, Sky Stream and Sky GlassTelevision packages and viewing devices generated $26.39 billion in FY2025. The bills remain large, but viewers keep leaving traditional bundles for internet-delivered substitutes, making the pace of that decline the number to watch.Television packages and viewing devices generated $26.39 billion in FY2025. The bills remain large, but viewers keep leaving traditional bundles for internet-delivered substitutes, making the pace of that decline the number to watch.
In plain English
Think of this as the familiar television bundle: many live channels, a box or streaming device and extras such as movie rentals gathered on one bill. Xfinity sells it in the United States; Sky serves European homes with its own boxes and screens.
Households pay each month for access and equipment, then Comcast passes a meaningful slice to television networks and sports leagues for their programs. The bundle also gives people another reason to keep Comcast internet. That old flywheel is weakening as less committed online packages make it easier to cancel.
Competes with YouTube TV (Alphabet) · Hulu + Live TV (Disney)
Xfinity MobileMobile service attached to Xfinity homes produced $4.97 billion in FY2025. Service revenue was growing in mid-2026; the test is whether free introductory lines turn into lasting paid ones.Mobile service attached to Xfinity homes produced $4.97 billion in FY2025. Service revenue was growing in mid-2026; the test is whether free introductory lines turn into lasting paid ones.
In plain English
Comcast sells a phone plan without building a nationwide cellular network of its own. It rents access from established mobile carriers, steers some traffic through Xfinity Wi-Fi and puts the phone charge beside the household's internet bill.
That arrangement is like selling seats on someone else's train: Comcast avoids laying every track but must pay the track owner as customers travel. Discounted or free starter lines help fill the train. Profit depends on those users eventually paying, staying with the bundle and not using so much cellular data that Comcast's bill from the network owner swells.
Competes with Spectrum Mobile (Charter) · Postpaid wireless (Verizon) · Postpaid wireless (T-Mobile US)
Sky Broadband and Sky MobileSky's European internet and mobile offers generated $4.96 billion in FY2025. They lean on other companies' networks and a television-led bundle; the planned separation now makes continuity as important as customer growth.Sky's European internet and mobile offers generated $4.96 billion in FY2025. They lean on other companies' networks and a television-led bundle; the planned separation now makes continuity as important as customer growth.
In plain English
Across Europe, Sky adds home internet and mobile service to households that often came for television first. A customer gets one familiar seller and a combined package, while Sky usually buys the underlying connection from another network operator.
Picture a shop that stocks another maker's pipes but owns the storefront and customer relationship. Sky earns the gap between the monthly price and what it pays the network, helped when television viewers add another service. Those economics depend on the prices Sky negotiates with network owners, and the intended company split adds a handoff to manage.
Competes with BT Full Fibre (BT Group) · Gig1 and Gig2 Broadband (Virgin Media O2)
NBC, Telemundo, Bravo and Sky SportsBroadcast and cable networks sell audiences to advertisers and access to distributors. After taking Peacock out, second-quarter 2026 sales imply roughly a $15 billion yearly pace, but shrinking traditional audiences keep pressure on that base.Broadcast and cable networks sell audiences to advertisers and access to distributors. After taking Peacock out, second-quarter 2026 sales imply roughly a $15 billion yearly pace, but shrinking traditional audiences keep pressure on that base.
In plain English
These are the channels and live programs viewers recognize, from general entertainment to news and sports. Comcast pays leagues, producers and performers to fill the schedule, then sends it through local stations, television distributors, Peacock and Sky.
Money arrives from two doors. Advertisers pay to place messages in front of the audience, while distributors pay for permission to include the channels in household packages. Big live events can still gather a crowd, but every household that abandons traditional television narrows the dependable stream of access fees.
Competes with ABC and ESPN (Disney) · CBS and Paramount+ (Paramount) · Fox and Tubi (Fox)
PeacockPeacock combines paid streaming with advertising and made $5.4 billion in FY2025. It reached its first profitable quarter in mid-2026, but management cautioned that one quarter was not a steady pattern.Peacock combines paid streaming with advertising and made $5.4 billion in FY2025. It reached its first profitable quarter in mid-2026, but management cautioned that one quarter was not a steady pattern.
In plain English
Peacock puts NBCUniversal shows, movies, news and sports into an app people can watch without a traditional television package. Some viewers pay a monthly fee, advertisers pay to appear around what they watch, and Xfinity and Sky help place the service in homes.
It works like a cinema with both tickets and sponsored screenings: a larger audience supports both kinds of payment, but the program bill must stay under control. Sports and fresh shows attract viewers; keeping them after a big event, without overspending on rights, decides whether recent progress lasts.
Competes with Netflix Standard with ads (Netflix) · Paramount+ Essential (Paramount) · Hulu (Disney)
Universal Destinations & ExperiencesUniversal's parks generated $9.84 billion in FY2025, helped by the new Epic Universe gate. Revenue kept rising in mid-2026, yet softer attendance and lower earnings showed that a bigger park does not guarantee fuller parks.Universal's parks generated $9.84 billion in FY2025, helped by the new Epic Universe gate. Revenue kept rising in mid-2026, yet softer attendance and lower earnings showed that a bigger park does not guarantee fuller parks.
In plain English
Here the product is a day inside a built world. Families and travelers pay to enter Universal parks, then spend again on hotels, food and merchandise. Comcast operates destinations in Orlando and Hollywood and participates in parks in Japan and Beijing.
New rides and entire new parks can lift both capacity and the reason to visit; Epic Universe expanded Orlando in May 2025. But this is a physical business with builders, ride equipment and staff to pay before every guest arrives. Vacation budgets, weather and the freshness of attractions determine how hard those assets work.
Competes with Walt Disney World Resort (Disney) · SeaWorld Orlando (United Parks & Resorts) · LEGOLAND Florida Resort (Merlin)
Comcast BusinessInternet, office networks and security for organizations produced $10.21 billion in FY2025. Signed fixed-price work equals roughly half a year's revenue for this business, mostly due within two years, giving this growing line some visibility.Internet, office networks and security for organizations produced $10.21 billion in FY2025. Signed fixed-price work equals roughly half a year's revenue for this business, mostly due within two years, giving this growing line some visibility.
In plain English
The unglamorous part that keeps offices connected. Comcast Business supplies internet and phone links to small companies, then adds help running the web of connections between bigger companies' locations, online services and security tools.
A corner shop may simply pay a monthly access bill; a larger customer may sign a fixed-price agreement covering many sites and ongoing management. Comcast earns recurring fees for keeping those links available and secure. Its reach, response when something breaks and ability to connect scattered offices are what keep customers paying.
Competes with Virtual Network Services–SD WAN (Verizon Business) · Flexible SD-WAN (Orange Business)
Universal Pictures, DreamWorks Animation, Illumination, Focus Features and Universal Studio GroupUniversal's film and television studios earned $8.08 billion from outside customers in FY2025. Each year's batch of releases is uneven, while the deep library can keep earning through cinemas, networks, streaming services and home viewing.Universal's film and television studios earned $8.08 billion from outside customers in FY2025. Each year's batch of releases is uneven, while the deep library can keep earning through cinemas, networks, streaming services and home viewing.
In plain English
A studio spends first and learns the result later. These studios hire creative teams, make films and television series, market them, and then sell tickets or permission to show the work. Cinemas, networks, streaming services and home viewers all become paying outlets.
The lasting asset is the shelf: a library of more than six thousand five hundred films can be licensed again, placed on Peacock or turned into park attractions. Fresh hits refill that shelf and can travel across several Comcast businesses, but a weak run of releases still makes any single year unpredictable.
Competes with Walt Disney Studios Motion Pictures (Disney) · Warner Bros. Pictures (Warner Bros. Discovery) · Sony Pictures Motion Picture Group (Sony)
Named in filings, launches and programs
- AdvertisingServiceA separate $3.71 billion FY2025 advertising business sits beside Comcast's consumer connection services, apart from advertising sold by the television networks.
- Xfinity VoiceServiceTraditional home phone service rides the Xfinity connection and keeps losing customers.
- Xfinity ShieldServiceA home internet box adds online security, physical safety and family controls through a service launched in August 2026.
- Xumo and Entertainment OSPlatformA Comcast and Charter venture supplying streaming devices and the software that organizes television viewing.
- NOW Internet, NOW TV and NOW MobileProduct linePrepaid, lower-commitment internet, television and mobile offers aimed at households watching their budgets.
- Internet Essentials and Project UPCustomer programAffordability and digital-opportunity programs that help more households get broadband access.
- NitelBrandAn enterprise network-services provider bought for $1.3 billion in April 2025 and folded into Comcast Business.
- NBA/WNBA media rights and Xfinity partnershipCustomer programA long-term NBC, Peacock and Sky basketball package paired with an Xfinity league partnership.
- ITV Media & Entertainment acquisitionBrand · AnnouncedSky's proposed purchase of ITV channels, ITVX and advertising operations, expected to close in the second half of 2027.
- Universal Horror UnleashedBrandA year-round horror attraction opened in Las Vegas, with a Chicago location targeted for 2027.
- Universal Kids ResortBrand · AnnouncedA family park in Frisco, Texas; management expected a summer 2026 opening, but the available material does not confirm it.
- Universal United Kingdom ResortBrand · AnnouncedA proposed British destination targeted for 2031, still dependent on planning and construction milestones.
- Comcast Spectacor and regional sports networksBrandSports venue and team interests plus retained regional television networks sit outside the five main operating lines.
- Xfinity Sports & News TVProduct lineA slimmer live television package bundled with Peacock for households tempted by online pay-TV alternatives.
AdvertisingService
A separate $3.71 billion FY2025 advertising business sits beside Comcast's consumer connection services, apart from advertising sold by the television networks.
Xfinity VoiceService
Traditional home phone service rides the Xfinity connection and keeps losing customers.
Xfinity ShieldService
A home internet box adds online security, physical safety and family controls through a service launched in August 2026.
Xumo and Entertainment OSPlatform
A Comcast and Charter venture supplying streaming devices and the software that organizes television viewing.
NOW Internet, NOW TV and NOW MobileProduct line
Prepaid, lower-commitment internet, television and mobile offers aimed at households watching their budgets.
Internet Essentials and Project UPCustomer program
Affordability and digital-opportunity programs that help more households get broadband access.
NitelBrand
An enterprise network-services provider bought for $1.3 billion in April 2025 and folded into Comcast Business.
NBA/WNBA media rights and Xfinity partnershipCustomer program
A long-term NBC, Peacock and Sky basketball package paired with an Xfinity league partnership.
ITV Media & Entertainment acquisitionBrand · Announced
Sky's proposed purchase of ITV channels, ITVX and advertising operations, expected to close in the second half of 2027.
Universal Horror UnleashedBrand
A year-round horror attraction opened in Las Vegas, with a Chicago location targeted for 2027.
Universal Kids ResortBrand · Announced
A family park in Frisco, Texas; management expected a summer 2026 opening, but the available material does not confirm it.
Universal United Kingdom ResortBrand · Announced
A proposed British destination targeted for 2031, still dependent on planning and construction milestones.
Comcast Spectacor and regional sports networksBrand
Sports venue and team interests plus retained regional television networks sit outside the five main operating lines.
Xfinity Sports & News TVProduct line
A slimmer live television package bundled with Peacock for households tempted by online pay-TV alternatives.