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Comcast's Roberts: "We Didn't Pick Up on Content Early Enough"
At the Cable Show in LA, Comcast CEO Brian Roberts conceded that Comcast "did not pick up on content early enough and that it is starting later than it should have." He said that Comcast missed opportunities early on - for example with Discovery to play a larger role in content, but noted that it's been working hard to catch up since. His remarks came in a one-on-one discussion with Peter Chernin, former head of News Corp.
Prior to the session Roberts did a short update on Comcast's VOD efforts, disclosing that to date it has delivered 15 billion views, with 350 million new views per month. The average VOD user accesses 20-25 times per month with TV series and kids programming the most popular genres. Comcast offered 100 day-and-date movies last year, compared to just 13 in 2007; in Q1 '10 it already had more than 60. Day-and-date releases on cable are a key strategy for Hollywood studios looking to buttress falling DVD sales and increase margins on digital delivery.
Regarding the pending NBCU acquisition, Roberts said that there are "No plans to Comcast-ize NBCU, particularly because there isn't just one culture at Comcast anyway, with each brand having its own culture." Chernin pressed Roberts to explain how editorial control will work when Comcast owns NBCU. Chernin wondered what Comcast would do in the instance of another controversial film being made like Martin Scorsese's "The Passion of Christ" or when MSNBC host Keith Olbermann blasts the same Republican senators that Comcast might also be courting on any number of regulatory-related matters. After joking resolving these issues is (Comcast COO) Steve Burke's role, Roberts said that since the company's early days in cable it has had to balance the fact that it doesn't agree with everything it distributes, and tries to offer flexibility to customers to opt-out or block certain channels. He resisted getting any more specific, saying the company will find its way after the deal closes.
Chernin also noted that with NBCU, the company will effectively find itself on both sides of the negotiating table when it comes to rates, and wondered how Comcast will decide "what's fair?" Roberts pointed out that there are lots of other players in the market who will contribute to answering the question, so it's by no means Comcast's alone to address. On the topic of content's value, Roberts sees multiple new distributors emerging, which should serve to increase content's value in the future.
Lastly, related to the FCC's net neutrality efforts, Roberts says he doesn't believe the government is "trying to turn the clock back" on cable, saying its actions are "a worry, but not a big worry."
Categories: Broadcasters, Cable TV Operators
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