Comcast 2012 Annual Report Download - page 18

Table of Contents
Filmed Entertainment
Our filmed entertainment business competes for audiences for its films and other entertainment content with other major studios and,
to a lesser extent, with independent film producers, as well as with alternative forms of entertainment. Our competitive position
primarily depends on the number of films we produce, their distribution and marketing success, and consumer response. Our filmed
entertainment business also competes to obtain creative, performing and technical talent, including writers, actors, directors and
producers, as well as scripts for films. Our filmed entertainment business also competes with the other major studios and other
producers of entertainment content for distribution of their content through various exhibition and distribution outlets and on digital
media platforms.
Theme Parks
Our theme parks business competes with other multi-
park entertainment companies. We also compete with other forms of
entertainment, lodging, tourism and recreational activities. In order to maintain the competitiveness of our theme parks, we have
invested and continue to invest in existing and new theme park attractions and infrastructure. The investment required to introduce
new attractions in our theme parks can be significant.
Advertising
Our cable communications business, cable networks, broadcast television networks, and owned local broadcast television stations
compete for the sale of advertising time with other television networks and stations, as well as with all other advertising platforms,
such as radio stations, print media and websites.
Seasonality and Cyclicality
Each of our businesses is subject to seasonal and cyclical variations. See “Management’
s Discussion and Analysis of Financial
Condition and Results of Operations – Segment Operating Results – Seasonality and Cyclicality” for additional information.
Legislation and Regulation
The Communications Act of 1934, as amended (the “Communications Act”),
and FCC regulations and policies affect significant
aspects of our businesses, which are also subject to other regulation by federal, state, local and foreign authorities under applicable
laws and regulations, as well as under agreements we enter into with franchising authorities. In addition, our businesses are subject
to compliance with the terms of the FCC Order approving the NBCUniversal transaction (the “NBCUniversal Order”)
and a consent
decree entered into between us, the DOJ and five states (the “NBCUniversal Consent Decree”),
which contain conditions and
commitments of varying duration, ranging from three to seven years after September 2011. In addition, certain other aspects of the
NBCUniversal Consent Decree are subject to oversight by a federal district court until at least 2013. Legislators and regulators at all
levels of government frequently consider changing, and sometimes do change, existing statutes, rules, regulations, or interpretations
of existing statutes, rules or regulations, or prescribe new ones, which may significantly affect our businesses. We are unable to
predict any such changes, or how any such changes will ultimately affect our businesses. The following paragraphs summarize
material existing and potential future legal and regulatory requirements affecting our businesses, although reference should be made
to the Communications Act, FCC regulations, the NBCUniversal Order, the NBCUniversal Consent Decree and other legislation and
regulations for further information.
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Comcast 2012 Annual Report on Form 10-
K