Comcast 2014 Annual Report Download - page 35

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 intensely 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. Technological changes are further intensifying and complicating the competitive landscape and
influencing consumer behavior, which is discussed in the risk factor immediately below in “
Changes in consumer behavior driven by
newer products and services may adversely affect our businesses and challenge existing business models.”
Cable Communications
Competition for the cable services we offer consists primarily of companies that typically offer features, pricing and packaging for
services comparable to our cable services, such as:
Some of our phone company competitors also have their own wireless facilities and may expand their cable service offerings to
include bundled wireless offerings, which may have an adverse impact on our competitive position, business and results of
operations. In May 2014, AT&T, our largest phone company competitor, announced its intention to acquire DirecTV, the nation’
s
largest DBS provider; if completed, this transaction will create an even larger competitor for our cable services.
There continue to be new entrants, some with significant financial resources, that potentially may compete on a larger scale with
our cable services. These newer entrants, some of which charge a nominal or no fee for access to their content, include companies
that provide subscription video on demand services over the Internet or the ability to download video programming. Additionally,
Google has launched high-
speed Internet and video services in a limited number of areas, and some local municipalities are
launching their own fiber-based high-
speed Internet services. There can be no assurance that these newer entrants will not
continue to launch services in more of our services areas.
Our cable communications business continues to seek ways to leverage our cable services network, such as by expanding and
enhancing our business services to medium-
sized businesses and by launching additional services, such as our home security and
automation services. 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.
•
DBS providers, which have a national footprint and compete in all our service areas
•
phone companies with fiber-
based networks, which overlap a significant portion of our service areas and
are continuing to expand their fiber-based networks
•
other providers of traditional cable services in some of our service areas and SMATV systems
Comcast 2014 Annual Report on Form 10
-
K
30