In what was a mixed bag of results for the quarter and the financial year as a whole, comms and video service provider Comcast has released fourth quarter results showing strong subs growth in its fledgeling Peacock direct-to-consumer service but with continued bleeding in traditional video.
For the fourth quarter ended 31 December 2021, Comcast posted total revenues of $30.336 billion, up 9.5% on an annual basis leading to a full year total of $116.385 billion, growing 12.4% year-on-year. Even though net income for the quarter fell 9.6% compared with Q4 2020 to $3.057 billion, yearly net income soared 34.4% to $14.159 billion.
Overall video revenues for the quarter were $5.403 billion, slipping back 1.2% compared with Q4 2020, reflecting said Comcast a decrease in the number of residential video customers. Yearly video revenues gained by 0.6% to $22.079 billion. For the twelve months total video customer net losses were 1.669 million, of which 373,000 net losses were in Q4. This led to a grand total of 17.495 million residential video customers plus 681,000 business services video subs.
Among the highlights of the year cited by the company were Peacock monthly active accounts in the US reaching 24.5 million and the launch of the service by Sky in the UK and Ireland and the launch of the Sky Glass content-embedded TV platform in the UK and its XClass TV equivalent in the US.
For Sky, the year ended on a somewhat disappointing note with Q4 revenue falling 2.4% year-on-year to $5.079 billion. Of this, direct-to-consumer revenues inched back 0.9% to $4.04 billion and content revenues tumbled 23.1% to 327 million. Advertising improved 1.4% to 712 million. For the year though total revenues were up 9.1% to $20.285 billion. Growth standout in the year was advertising, rising 24.6% to $2.489 billion. Yearly direct-to-consumer revenues totalled $16.455 billion, a yearly increase of 8.1%.
The Comcast Q4 results also showed Sky’s Q4 total customer relationships increasing by 61,000 to 23.027 million in the fourth quarter of 2021, reflecting said the company an increase in customer relationships in the UK and Germany, partially offset by the negative impact of the reduction in Sky's broadcast rights to Serie A in Italy. For the twelve months ended December 31, 2021, total customer relationships decreased by 198,000.
Overall video revenues for the quarter were $5.403 billion, slipping back 1.2% compared with Q4 2020, reflecting said Comcast a decrease in the number of residential video customers. Yearly video revenues gained by 0.6% to $22.079 billion. For the twelve months total video customer net losses were 1.669 million, of which 373,000 net losses were in Q4. This led to a grand total of 17.495 million residential video customers plus 681,000 business services video subs.
Among the highlights of the year cited by the company were Peacock monthly active accounts in the US reaching 24.5 million and the launch of the service by Sky in the UK and Ireland and the launch of the Sky Glass content-embedded TV platform in the UK and its XClass TV equivalent in the US.
For Sky, the year ended on a somewhat disappointing note with Q4 revenue falling 2.4% year-on-year to $5.079 billion. Of this, direct-to-consumer revenues inched back 0.9% to $4.04 billion and content revenues tumbled 23.1% to 327 million. Advertising improved 1.4% to 712 million. For the year though total revenues were up 9.1% to $20.285 billion. Growth standout in the year was advertising, rising 24.6% to $2.489 billion. Yearly direct-to-consumer revenues totalled $16.455 billion, a yearly increase of 8.1%.
The Comcast Q4 results also showed Sky’s Q4 total customer relationships increasing by 61,000 to 23.027 million in the fourth quarter of 2021, reflecting said the company an increase in customer relationships in the UK and Germany, partially offset by the negative impact of the reduction in Sky's broadcast rights to Serie A in Italy. For the twelve months ended December 31, 2021, total customer relationships decreased by 198,000.
