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Comcast Turns to Chinese New Year Sponsorship amid Competition

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Comcast provides long distance calling to China

Comcast (CMCSA) inked a multiyear partnership with the Chinese Chamber of Commerce in California and for the first time became a sponsor of the Chinese New Year festival this year. Asian-Americans represent one of Comcast’s largest and fastest expanding customer segments in California. Comcast provides a range of services to this community from international television programming to long distance calling to China.

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Connecting with Asian-American communities

Sponsoring Chinese New Year festivities provides Comcast with another avenue to increase awareness of its brands and services among the Asian-American communities in the United States.

The partnership with the Chinese chamber of commerce in California and efforts to increase awareness of its brand among Asian-Americans come as the company is preparing to enter the rapidly crowding video streaming market. Comcast is planning to launch a direct-to-consumer digital video service next year, a move that will see it challenge the likes of Netflix (NFLX), Dish Network (DISH), and AT&T (T) for market share. Netflix boasts more than 58 million paying subscribers in the United States, making it the competitor to beat in the video streaming market. Dish runs SlingTV, an Internet-based television service that is also available in California. AT&T runs several digital video services and is gearing up to expand in this space with a new service coming up later this year. Walt Disney (DIS) is also gearing up to introduce a new digital video service later this year.

Comcast’s revenue rose 26%

Comcast generated $27.8 billion in revenue in the fourth quarter, which ended in December, representing an increase of 26.1% year-over-year.

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