Comcast and Walt Disney Co. have entered into a multi-year agreement to promote Disney`s TV channels on Xfinity platforms, including the addition of the ACC network. Comcast and Disney still jointly own Hulu until 2024, when the two companies can force Disney to buy the 33% of Comcast. Recently, Comcast said it was in no hurry to sell its stake in Hulu. With this multi-year transportation contract now concluded between the two companies, we hope that an agreement can be reached to end their Hulu co-ownership, which is holding back Disney`s plans for its streaming platforms in the United States. It also means that many Disney-owned TV stations in the U.S. are unlikely to close, as Disney has done in other countries. PHILADELPHIA, PA AND BURBANK, CA (30. November 2021) – Comcast and The Walt Disney Company announced today that the companies have renewed their agreement to promote content and will continue to provide Disney`s strong offering of sports, news, children`s, family and general entertainment programming to Xfinity TV customers. In addition, Comcast will distribute the ACC network to its Xfinity customers, allowing Atlantic Coast Conference fans and followers to access the cross-platform network in the coming weeks.
Covered by the Carriage Deal are ESPN networks, Disney-branded channels, Freeform, FX networks, and National Geographic channels. It also includes the SEC network and ABC-owned television stations in New York, Chicago, Philadelphia, San Francisco, Houston, Raleigh-Durham and Fresno. Today, Comcast and the Walt Disney Company announced that they have renewed their agreement to promote the content, which will allow Xfinity TV customers to continue enjoying the various Disney networks. The multi-year agreement includes the launch of the ACC network for Xfinity customers. Comcast CMCSA and The Walt Disney DIS recently announced the renewal of their content transportation agreement. The agreement will continue to make Disney`s offering of news, sports, children, families and general entertainment programs available to Comcast`s Xfinity TV customer. The renewed agreement marks the expansion of Comcast`s existing relationship with Disney. Comcast will distribute the ACC network to its Xfinity customers, who will provide Atlantic Coast Conference fans with access to the cross-platform network in the coming weeks. The multi-year agreement includes the continued distribution of Disney`s cable channels such as Disney-branded channels, ESPN networks, FX networks, and National Geographic channels.
The renewal also includes the continued distribution of the dry network and the city-specific retransmission permit for ABC`s own television stations. Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people with important moments. We focus primarily on broadband, aggregation and streaming with 57 million customer relationships in the US and Europe. We provide broadband, wireless and video through our Xfinity, Comcast Business and Sky brands. Create, distribute and disseminate leading entertainment, sports and news information through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, nbc and Telemundo, several cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News and Sky Sports; and deliver unforgettable experiences at Universal Parks and Resorts in the U.S. and Asia. Visit www.comcastcorporation.com for more information. Comcast has entered into a new long-term transportation agreement with Fuse Media.
In March 2021, Comcast launched Disney+ and ESPN+ on Xfinity TV, with which the contract extension will continue to be available to customers. The relationship between Disney and Comcast has been fruitful for both companies this year. Earlier this year, Disney+ and ESPN+ were launched for Xfinity customers, making the streaming platforms available to X1 and Flex customers for the first time. Xfinity offers its customers the best live, on-demand and streaming entertainment via its X1 and Flex devices, all accessible and discoverable with the award-winning Xfinity Voice Remote. X1 and Flex customers can access Disney`s world-class programming by including the name of a Disney channel (such as “Freeform” or “ESPN”) or streaming services (such as “Disney+”, “Hulu” or “ESPN+”) in the voice remote or by indicating the name of a desired title of Disney channels or streaming services. The ACC network will light up on Xfinity in the coming weeks. Disney launched it shortly after the debut of the SEC network as part of an ongoing effort to leverage ESPN`s longstanding presence in college sports. Comcast`s growing content portfolio will drive revenue growth. In addition to the expanded partnership with Disney, the company has partnered with ViacomCBS VIAC to launch a European streaming service called SkyShowtime in 2022. Comcast and ViacomCBS will roll out the service in 20 European countries, including Spain, Portugal and the Netherlands. It will include libraries of shows from Sky and NBCUniversal, as well as ViacomCBS brands such as Nickelodeon, Showtime and Paramount Pictures.
SkyShowtime will include old and new versions of companies with over 10,000 hours of content. Comcast suffers from cable cuts. Streaming service Peacock is in fierce competition with Netflix NFLX, Disney+, HBO Max and Paramount+. ViacomCBS` Comcast Netflix shares have underperformed Netflix since the beginning of the year. Stocks are down 4.6% year-to-date, while Netflix is up 18.7%. Shares of ViacomCBS and Disney are down 16.9% and 20.0%, respectively, since the beginning of the year. Netflix still dominates the streaming market. In the third quarter, Netflix added 4.38 million paying subscribers worldwide, up from 2.2 million in the same quarter last year, beating forecasts of 3.5 million countless subscribers.
Netflix expects to close the fourth quarter with 222.06 million paying subscribers worldwide, representing 9% growth from the same quarter last year. Disney recently announced that it will increase its total content budget by $8 billion year-over-year, reaching a total of $33 billion in 2022. The decision was based on the intention to support direct-to-consumer services, which primarily include Hulu, Disney+, and ESPN+. Disney plans to stream about 50 titles for a theatrical and streaming release in fiscal 2022. Walt Disney Animation Studios will release “Baymax” and “Moon Knight,” their first animated series, next year. There are also plans to launch a new Marvel series on Disney+ in fiscal 2022. ViacomCBS` strong portfolio of cable networks is a key driver of growth. The growing traction of BET, Comedy Central, Nickelodeon and Showtime is expected to boost revenue. ViacomCBS recently announced the acquisition of a majority stake in Fox TeleColombia and Estudios TeleMexico from Disney. In addition to the growth in advertising revenue, Comcast is also seeing growth in broadband subscribers and growing momentum in the wireless sector. Peacock, its streaming service, has gained popularity amid coronavirus-induced media consumption.
Comcast currently has a Zacks Rank #3 (Hold). You can see the full list of today`s Zacks #1 Rank (Strong Buy) stocks here. When it was dropped, Fuse complained that Comcast had promised not to drop various independent programmers. The loss of sales led Fuse to insolvency. He came out of bankruptcy, which belonged to his management group. This is an important deal for both companies, as Comcast must continue to provide content for its existing TV channels and also give access to Disney+, Hulu and ESPN+ through their Xfinity boxes. “Representing in media affairs and as a Latin American-owned entertainment company, Fuse Media strives to give a voice to historically underrepresented communities,” said Miguel ` Mike” Roggero, CEO of Fuse Media. “Our networks serve Latino and multicultural audiences with authentic content that represents all aspects of their lives and culture, providing them with a true narrative that entertains, inspires and reflects the world we live in. We are pleased that Comcast is sharing our commitment and are excited to once again introduce our award-winning content to Comcast subscribers. The deal follows the launch of Disney+ and ESPN+ as integrated offerings on Xfinity earlier this year. .
“We are very pleased to have entered into this comprehensive agreement with Disney to continue to provide Xfinity customers with access to their content through our industry-leading platforms,” said Rebecca Heap, Senior Vice President, Consumer Products and Proposals, Comcast Cable. | Price Consensus Chart Comcast Corporation Comcast Corporation Citation The cable operator had abandoned Fuse at the end of 2018. . The future between the two conglomerates is in the air when it comes to Hulu. Comcast must decide whether or not to remove NBCUniversal content from the streaming service to strengthen Peacock`s subscriber base. NBCU owns a third of Hulu, disney owns the remaining shares, but NBCU has until 2022 to make a decision on migrating its content to Peacock, otherwise they will have to wait until 2024. .