Comcast Says Disney Deal Offers Protection From Google And Apple: Citigroup Confab

It’s hard to imagine what the video business will look like in one year, let alone 10. Yet Comcast CFO Michael Angelakis says that was an incentive for his company to pursue the decade-long deal with Disney, announced yesterday, that gives the cable company broad rights to about 70 channels and services. “I look at that anxiety (about video’s future) as an opportunity,” he told bankers and analysts at the Citigroup Global Entertainment, Media & Telecommunications Conference. “Having long-term deals provides consistency.” He calls the agreement “a building block” — along with investments in live sports and VOD — for Comcast’s plan to compete with tech companies including Google and Apple as they move into the video business. “Our goal is to provide our customers with the best experience so they have no desire to go anywhere else.” Although Comcast and Disney didn’t disclose financial terms for their deal, the CFO acknowledges that it will increase Comcast’s programming costs. That’s “a challenge and we’re working through that.” (more…)

This article was printed from https://deadline.com/2012/01/comcast-sees-disney-deal-as-protection-from-google-and-apple-citigroup-confab-210237/