Comcast 2015 Annual Report Download - page 13

Filmed Entertainment
Our Filmed Entertainment segment primarily produces, acquires, markets and distributes both live-action and
animated filmed entertainment worldwide, and it also develops, produces and licenses live stage plays.
We produce films both on our own and jointly with other studios or production companies, as well as with
other entities. Our films are produced primarily under the Universal Pictures, Illumination and Focus Features
names. Our films are marketed and distributed worldwide primarily through our own marketing and dis-
tribution companies. We also acquire distribution rights to films produced by others, which may be limited to
particular geographic regions, specific forms of media or certain periods of time. Our content consists of
theatrical films, direct-to-video movies and our film library, which is comprised of more than 5,000 movies in a
variety of genres.
We have entered into, and may continue to enter into, film cofinancing arrangements with third parties, includ-
ing both studio and nonstudio entities, to jointly finance or distribute certain of our film productions. These
arrangements can take various forms, but in most cases involve the grant of an economic interest in a film to
an investor. Investors generally assume the full risks and rewards of ownership proportionate to their owner-
ship in the film.
The majority of our produced and acquired films are initially distributed for exhibition in movie theaters. After
their release in movie theaters, we sell and license our films through various methods. We distribute our films
globally by selling them on DVD to retail stores, rental kiosks and subscription by mail services and by selling
them through digital distribution services and the video on demand services provided by multichannel video
providers, including our Cable Communications segment. We also license our films, including selections from
our film library, to cable, broadcast and premium networks, to subscription video on demand services, and to
video on demand and pay-per-view services. The number of films that we license through subscription video
on demand services is increasing as consumers continue to seek additional ways to view our content.
Theme Parks
Our Theme Parks segment consists primarily of our Universal theme parks in Orlando, Florida and Hollywood,
California. Universal Orlando includes two theme parks, Universal Studios Florida and Universal’s Islands of
Adventure, as well as CityWalk, a dining, retail and entertainment complex. Universal Orlando also features
on-site themed hotels in which we own a noncontrolling interest. Our Universal theme park in Hollywood, Cal-
ifornia consists primarily of Universal Studios Hollywood. We also are expanding our theme park business
internationally, such as through NBCUniversal’s acquisition of a 51% interest in Universal Studios Japan in
November 2015 and our plans to develop a Universal Studios theme park in Beijing, China along with a
consortium of Chinese state owned companies. In addition, we license the right to use the Universal Studios
brand name and other intellectual property, and also provide other services, to third parties that own and
operate the Universal Studios Singapore theme park on Sentosa Island, Singapore, as well as to the Universal
Studios Japan theme park. We also own a water park, Wet ‘n Wild, in Orlando, Florida.
Our Theme Parks segment licenses the right to use a substantial amount of intellectual property from third
parties for its themed elements in rides, attractions and merchandising.
Competition
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 products and services, to consumers. Technological
changes are further intensifying and complicating the competitive landscape for all of our businesses by chal-
lenging existing business models and affecting consumer behavior.
Comcast 2015 Annual Report on Form 10-K 10