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How Comcast’s NBCUniversal Segment Is Contributing


Jan. 28 2019, Updated 10:30 a.m. ET

NBCUniversal’s revenue and EBITDA growth

Comcast’s (CMCSA) NBCUniversal revenue has grown steadily over the past several quarters. In the fourth quarter, NBCUniversal revenue increased 7.1% YoY (year-over-year) to $9.4 billion, driven by the theme park, filmed entertainment, cable network, and TV businesses, and NBCUniversal’s focus on major events, news, and sports-based content. The segment’s adjusted EBITDA rose 12.3% YoY to $2.1 billion.

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NBCUniversal segment performance

In the fourth quarter, cable network revenue grew 8.9% YoY, driven by higher distribution, content licensing, and other revenue. Meanwhile, broadcast TV revenue rose 3.7% YoY, reflecting increased distribution and advertising revenue and decreased content licensing revenue.

Filmed entertainment revenue increased 14% YoY in Q4 2018, driven by increased theatrical and other revenue. The strong performance by Dr. Seuss’ The Grinch and Halloween boosted its theatrical revenue. However, its film revenue growth was overshadowed by decreases in its content licensing and home entertainment revenue. The company has several major film releases scheduled for this year.

The theme parks business grew 3.5% YoY in the fourth quarter, reflecting higher attendance and per capita spending. Like Comcast, Walt Disney (DIS) and SeaWorld Entertainment (SEAS) have also been investing in their theme parks.


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