Comcast 2013 Annual Report Download - page 36

Table of Contents
Additionally, we operate in a highly competitive, consumer-
driven and rapidly changing environment. This environment is affected
by government regulation; economic, strategic, political and social conditions; consumer response to new and existing products and
services; technological developments; and, particularly in view of new technologies, the ability to develop and protect intellectual
property rights. Our actual results could differ materially from our forward-
looking statements as a result of any of such factors,
which could adversely affect our businesses, results of operations or financial condition. We undertake no obligation to update any
forward-looking statements.
Item 1A: Risk Factors
Our businesses currently face a wide range of competition, and our businesses and results of operations could be
adversely affected if we do not compete effectively.
All of our businesses operate in competitive, consumer-
driven and rapidly changing environments and compete with a growing
number of companies that provide a broad range of communications products and services and entertainment, news and
information content to consumers. There also continue to be new entrants with significant financial resources that potentially may
compete on a larger scale with our cable services, as well as with our cable and broadcast networks and filmed entertainment
businesses. Technological changes are further intensifying and complicating the competitive landscape and influencing consumer
behavior, which is discussed immediately below in “
Changes in consumer behavior driven by new technologies may adversely
affect our businesses.”
Competition for the cable services we offer consists primarily of DBS providers, which have a national footprint and compete in all
our service areas, and phone companies, which overlap approximately 45% of our service areas and are continuing to expand their
fiber-
based networks. We also compete with other providers of traditional cable services. All of these companies typically offer
features, pricing and packaging for services comparable to our cable services. Companies that offer services that enable Internet
video streaming and downloading of video programming may also compete with our video services. Recently, Google launched
high-
speed Internet and video services in a limited number of areas, and there can be no assurance that it will not continue to
launch these services in more of our services areas. Furthermore, our phone company competitors have their own wireless facilities
and may expand their cable service offerings to include bundled wireless offerings, which may adversely affect our business and
results of operations.
Our cable communications business continues to seek ways to leverage our cable services network, such as by increasing the
speed of our high-speed Internet services, by expanding and enhancing our business services to medium-
sized businesses and by
launching additional services, such as our home security and automation services. We expect these and other initiatives designed
to help us compete effectively, such as deploying our X1 platform and wireless gateways, will require increased capital spending.
There can be no assurance that we can execute on these and other initiatives in a manner sufficient to grow or maintain our cable
communications revenue or to compete successfully in the future.
Each of NBCUniversal’
s businesses also faces substantial and increasing competition from providers of similar types of content, as
well as from other forms of entertainment and recreational activities. NBCUniversal must compete to obtain talent, programming
and other resources required in operating these businesses. For example, our cable networks, broadcast television networks and
owned local broadcast television stations compete for viewers with other similar networks and stations, as well as with other forms
of entertainment and content available in the home, such as video games, DVDs and websites. In addition, our cable networks
compete with other cable networks and programming providers for carriage of their programming by multichannel video providers
and online digital distributors. Our filmed entertainment business competes with other major studios and other producers of
entertainment content for sources of financing for the production
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Comcast 2013 Annual Report on Form 10
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