1 00:00:02,400 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:06,920 --> 00:00:08,920 Speaker 2: We're keeping a watch on media. Let's go to a 3 00:00:08,960 --> 00:00:11,879 Speaker 2: panel up on stage at the theater here at screen time, 4 00:00:12,200 --> 00:00:15,320 Speaker 2: our Lucas Shaw talk with Brian Roberts, CEO and chairman 5 00:00:15,360 --> 00:00:17,080 Speaker 2: of Comcast NBC Universal. 6 00:00:18,640 --> 00:00:19,040 Speaker 3: Coming out. 7 00:00:20,800 --> 00:00:22,800 Speaker 4: Well, look, you have a We're not gonna go there 8 00:00:22,880 --> 00:00:24,560 Speaker 4: right away, but you have earnings in a few months. 9 00:00:24,600 --> 00:00:27,440 Speaker 4: You can just wipe that clean, right that'll. I want 10 00:00:27,440 --> 00:00:31,120 Speaker 4: to start just with news of the moment, because you 11 00:00:31,160 --> 00:00:33,440 Speaker 4: guys have a pretty big business in Florida, which I 12 00:00:33,440 --> 00:00:36,199 Speaker 4: believe has been affected by the hurricane down there. So 13 00:00:36,360 --> 00:00:37,760 Speaker 4: is everything fine at the parks? 14 00:00:37,800 --> 00:00:42,080 Speaker 5: Thanks for starting there both theme park great news for 15 00:00:42,120 --> 00:00:45,280 Speaker 5: that is will be open tomorrow and maybe even tonight 16 00:00:45,400 --> 00:00:49,040 Speaker 5: with the city walk. We also are the cable company 17 00:00:49,280 --> 00:00:51,879 Speaker 5: right in Fort Myers and right where the storm came in. 18 00:00:52,000 --> 00:00:56,240 Speaker 5: So a lot of devastations we all have witnessed, and 19 00:00:56,480 --> 00:01:00,120 Speaker 5: fortunately we have a culture probably a thousand peace but 20 00:01:00,240 --> 00:01:00,960 Speaker 5: working on it today. 21 00:01:01,000 --> 00:01:03,280 Speaker 1: We'll have people soon's powers back. We'll be back. 22 00:01:04,120 --> 00:01:06,080 Speaker 5: Just had this storm a couple of weeks ago hit 23 00:01:06,120 --> 00:01:10,360 Speaker 5: Georgia and Florida. It's awful this time of year, so 24 00:01:10,880 --> 00:01:13,640 Speaker 5: hopefully everybody is safe, and it was good. I think 25 00:01:13,680 --> 00:01:15,760 Speaker 5: the media did a great job for warning people and 26 00:01:15,800 --> 00:01:19,360 Speaker 5: it was taken quite seriously, So thank you for asking. 27 00:01:19,520 --> 00:01:21,480 Speaker 1: Yeah, I feel like there's more. 28 00:01:21,520 --> 00:01:24,039 Speaker 4: I mean, for obvious reasons, there's just so much more 29 00:01:24,080 --> 00:01:26,040 Speaker 4: storm coverage than ever before. 30 00:01:27,240 --> 00:01:28,200 Speaker 1: Maybe global warning. 31 00:01:28,280 --> 00:01:32,080 Speaker 4: Yeah, that's probably why. No easy way to transfer off 32 00:01:32,080 --> 00:01:34,960 Speaker 4: of it. But I'm glad everyone's okay. I wanted to 33 00:01:35,640 --> 00:01:40,840 Speaker 4: start sort of big picture with you. Most of your peers, 34 00:01:41,640 --> 00:01:43,360 Speaker 4: i'd say, are getting are A lot of them are 35 00:01:43,360 --> 00:01:45,920 Speaker 4: getting out of the media business, right, So Shery Redstone, 36 00:01:46,000 --> 00:01:49,960 Speaker 4: Cells Rupert sold a few years ago, or at least 37 00:01:49,960 --> 00:01:52,480 Speaker 4: out of the entertainment business. AP and T and Verizons 38 00:01:52,560 --> 00:01:56,000 Speaker 4: or telecom companies got out. You seem to be investing 39 00:01:56,000 --> 00:01:57,960 Speaker 4: more in media and entertainment at a time where there's 40 00:01:58,000 --> 00:02:00,600 Speaker 4: a lot of anxiety and uncertainty about it. Why does 41 00:02:00,640 --> 00:02:02,720 Speaker 4: it make sense for comcasts to be in the entertainment 42 00:02:02,800 --> 00:02:05,600 Speaker 4: business and what do you see that sort of bright 43 00:02:05,640 --> 00:02:08,079 Speaker 4: about the future that maybe others don't agree with. 44 00:02:08,840 --> 00:02:13,120 Speaker 5: Well, I think a broad statement like that. You know, 45 00:02:13,240 --> 00:02:17,360 Speaker 5: Larry Ellison just chose to get in. You're sponsored by AWS. 46 00:02:18,560 --> 00:02:23,400 Speaker 5: There's you know, a complete change of who's enthusiastic and 47 00:02:23,400 --> 00:02:25,480 Speaker 5: what do they bring to the party, and maybe some 48 00:02:25,520 --> 00:02:29,320 Speaker 5: of those folks thought it was time to exit. We're 49 00:02:29,520 --> 00:02:34,480 Speaker 5: pretty excited about the company we've got. We have in 50 00:02:34,560 --> 00:02:40,120 Speaker 5: the media part of the business, studios growing great. Some 51 00:02:40,160 --> 00:02:42,600 Speaker 5: of the clips you said, I hope Wicked wins that 52 00:02:42,600 --> 00:02:46,760 Speaker 5: that poll and more importantly wins the box office. Fabulous 53 00:02:47,120 --> 00:02:50,880 Speaker 5: bet by Donna team last year Oppenheimer, Chris Mellandandre You've 54 00:02:50,880 --> 00:02:52,080 Speaker 5: got Jason Cumming later. 55 00:02:52,120 --> 00:02:52,920 Speaker 1: I'm just bummed out. 56 00:02:52,960 --> 00:02:56,480 Speaker 5: I'm not doing the hot wings your body well, thank you. 57 00:02:56,520 --> 00:02:57,680 Speaker 1: Yeah. 58 00:02:57,720 --> 00:03:03,160 Speaker 5: And so you know, we have in Peacock a strategy. 59 00:03:03,200 --> 00:03:05,280 Speaker 5: I'm sure we'll get into a little more. That is 60 00:03:05,320 --> 00:03:08,240 Speaker 5: a growth business for us. And we've also selling our 61 00:03:08,280 --> 00:03:12,440 Speaker 5: Hulu steak so we actually will have you know, very 62 00:03:12,440 --> 00:03:18,120 Speaker 5: little money net in streaming in terms of losses versus profits, so. 63 00:03:18,200 --> 00:03:19,360 Speaker 1: You know, each company is different. 64 00:03:19,360 --> 00:03:21,920 Speaker 5: Then we also have a broadband the majority of the 65 00:03:22,000 --> 00:03:25,720 Speaker 5: company that my dad started, Comcast Cable now really a 66 00:03:25,840 --> 00:03:27,720 Speaker 5: broadband connectivity. 67 00:03:27,080 --> 00:03:30,640 Speaker 1: Business Wi Fi. You know, if you were to go 68 00:03:30,720 --> 00:03:32,960 Speaker 1: back ten years and you say, let's design. 69 00:03:33,360 --> 00:03:36,000 Speaker 5: With your perfect knowledge of what the world looks like today, 70 00:03:36,440 --> 00:03:38,400 Speaker 5: what would be a cool company. You would say, I 71 00:03:38,520 --> 00:03:41,840 Speaker 5: like to connect everybody to what we're doing, whether it's 72 00:03:41,840 --> 00:03:44,320 Speaker 5: in streaming, or whether it's in AI, or whether it's 73 00:03:44,360 --> 00:03:48,200 Speaker 5: going to be in you know, whatever comes Nest Zoom 74 00:03:48,280 --> 00:03:52,200 Speaker 5: calls working from home, and we have the nation's most 75 00:03:52,320 --> 00:03:57,920 Speaker 5: connected broadband customers. We have a converge service with wireless 76 00:03:58,560 --> 00:04:02,320 Speaker 5: and broadband in more homes than AT and T, Verizon 77 00:04:02,680 --> 00:04:06,920 Speaker 5: T Mobile combined, and a lot of that content. A 78 00:04:07,000 --> 00:04:10,200 Speaker 5: hundred million people every quarter coming to watch today's show, 79 00:04:10,240 --> 00:04:14,160 Speaker 5: Tonight's show SNL which is fabulous as always this year, 80 00:04:14,200 --> 00:04:16,479 Speaker 5: And don't know how one Michael can do it every time, 81 00:04:16,520 --> 00:04:19,120 Speaker 5: but this being such an important year, what a great 82 00:04:19,160 --> 00:04:23,000 Speaker 5: first two shows, and then film and television and the 83 00:04:23,040 --> 00:04:27,560 Speaker 5: stories we have, and then of course sports, and I'm sure. 84 00:04:27,360 --> 00:04:28,760 Speaker 1: We'll talk a little about that as well. 85 00:04:29,080 --> 00:04:31,160 Speaker 5: So I think we have a pretty great company, and 86 00:04:31,600 --> 00:04:32,839 Speaker 5: I more excited. 87 00:04:33,440 --> 00:04:37,320 Speaker 1: This will be our sixtieth year. My dad founded it. 88 00:04:37,600 --> 00:04:40,760 Speaker 5: This will be and last year was the most profitable 89 00:04:40,800 --> 00:04:44,280 Speaker 5: year and the best year in company's history. And you know, 90 00:04:44,360 --> 00:04:46,480 Speaker 5: we're about to do earnings everything. We're gonna have a 91 00:04:46,520 --> 00:04:49,279 Speaker 5: great year this year by all the analyst accounts, and 92 00:04:49,320 --> 00:04:51,160 Speaker 5: maybe even the best year in the company's history are 93 00:04:51,200 --> 00:04:55,880 Speaker 5: right there, and so why would you not be excited. 94 00:04:56,080 --> 00:04:57,040 Speaker 1: You brought up Peacock. 95 00:04:57,040 --> 00:05:03,080 Speaker 4: I'm curious how long until Peacock is really a profitable 96 00:05:03,120 --> 00:05:04,800 Speaker 4: and sustainable business on its own. 97 00:05:05,279 --> 00:05:06,800 Speaker 5: Well, first of all, we don't look at as on 98 00:05:06,839 --> 00:05:09,800 Speaker 5: its own, So I'm not doing a duct your question completely. 99 00:05:09,880 --> 00:05:12,000 Speaker 5: But that's not how we're running the business. We're running 100 00:05:12,000 --> 00:05:14,600 Speaker 5: it as part of the media business. So take the Olympics. 101 00:05:16,320 --> 00:05:20,800 Speaker 5: Eighty seven percent of the viewing was on NBC or 102 00:05:21,360 --> 00:05:24,720 Speaker 5: one of our cable channels. Thirteen percent was on Peacock. 103 00:05:25,360 --> 00:05:28,239 Speaker 5: But together we presented to the consumer all those choices, 104 00:05:28,279 --> 00:05:32,480 Speaker 5: every event, every athlete, every country, Mike Turico doing two 105 00:05:32,600 --> 00:05:34,960 Speaker 5: prime time shows in a heroic fashion. 106 00:05:35,440 --> 00:05:37,120 Speaker 1: Hard to get. We have the stats here. 107 00:05:37,680 --> 00:05:40,240 Speaker 4: Nbcunivers Will had the most viewership of any company TV 108 00:05:40,279 --> 00:05:42,640 Speaker 4: viewership had any company in August because of thelige. 109 00:05:42,720 --> 00:05:45,120 Speaker 5: Did it for seventeen straight days. It's so hard to 110 00:05:45,200 --> 00:05:48,960 Speaker 5: keep America's a viewer's attention for more than two hours, 111 00:05:49,040 --> 00:05:50,680 Speaker 5: let alone seventeen days. 112 00:05:51,000 --> 00:05:54,480 Speaker 1: So that was a whole company effort. 113 00:05:54,680 --> 00:05:57,320 Speaker 5: And so to pick one part of the company and say, well, 114 00:05:57,320 --> 00:06:00,159 Speaker 5: how's that part doing well? If your goal is to 115 00:06:00,320 --> 00:06:03,720 Speaker 5: just be Netflix. That's a really important question. If your 116 00:06:03,760 --> 00:06:07,400 Speaker 5: goal is to have a media company that, particularly in 117 00:06:07,400 --> 00:06:12,279 Speaker 5: the United States, which is where most of our emphasis is, 118 00:06:12,279 --> 00:06:16,400 Speaker 5: is to deliver sports to I think of you know, 119 00:06:16,400 --> 00:06:18,600 Speaker 5: Bloomberg didn't have a print business where I was chatting 120 00:06:18,680 --> 00:06:21,880 Speaker 5: with some friends from the Wall Street Journal and they 121 00:06:21,920 --> 00:06:26,320 Speaker 5: had to go from a dying print business to a 122 00:06:26,360 --> 00:06:27,560 Speaker 5: growing digital business. 123 00:06:28,080 --> 00:06:29,880 Speaker 1: And New York Times had to do the same. 124 00:06:30,440 --> 00:06:32,880 Speaker 5: And there's some people that didn't make it USA today 125 00:06:33,040 --> 00:06:37,080 Speaker 5: may not quite get there. So if you inquire regional papers, 126 00:06:37,240 --> 00:06:39,080 Speaker 5: tough business. 127 00:06:39,760 --> 00:06:42,359 Speaker 1: We think NBC we. 128 00:06:42,320 --> 00:06:44,320 Speaker 5: Are going to get there, and Peacock is going to 129 00:06:44,320 --> 00:06:46,360 Speaker 5: be part of how that happens is more and more 130 00:06:46,360 --> 00:06:49,120 Speaker 5: people cut the cord, more and poor people will take Peacock. 131 00:06:49,160 --> 00:06:52,159 Speaker 4: That's why people ask about the sustainability to Peacock. 132 00:06:52,200 --> 00:06:53,120 Speaker 1: I get that it's part of. 133 00:06:53,080 --> 00:06:58,960 Speaker 4: This broader group, right, but your cable networks are the way, right, 134 00:06:59,000 --> 00:06:59,880 Speaker 4: so you need something. 135 00:06:59,680 --> 00:07:00,120 Speaker 1: To offer that. 136 00:07:00,680 --> 00:07:04,360 Speaker 5: Peacock we think this year will be the most losses 137 00:07:04,400 --> 00:07:08,120 Speaker 5: we've had, even including the NBA investment that we're making. 138 00:07:09,240 --> 00:07:13,400 Speaker 1: We're already improved. That's what last y won't hurt profitability going. 139 00:07:13,280 --> 00:07:15,760 Speaker 5: We well, it might theoretically if in the short run, 140 00:07:15,800 --> 00:07:19,760 Speaker 5: but in the long run we're super excited and think 141 00:07:19,760 --> 00:07:22,280 Speaker 5: that it's factored into what we need to spend and 142 00:07:22,560 --> 00:07:25,840 Speaker 5: what will monetize if you go back, we had all 143 00:07:25,880 --> 00:07:27,000 Speaker 5: our content on Hulu. 144 00:07:27,200 --> 00:07:28,200 Speaker 1: We bought the company. 145 00:07:28,240 --> 00:07:31,600 Speaker 5: That was what NBC had committed to before we own 146 00:07:31,640 --> 00:07:36,239 Speaker 5: the company. Then Fox happened and Disney got control of Hulu, 147 00:07:37,520 --> 00:07:42,680 Speaker 5: got an amicable way to extricate, which was taking five years. 148 00:07:42,720 --> 00:07:44,680 Speaker 5: We didn't want to sell our Hulu steak until the 149 00:07:44,760 --> 00:07:45,320 Speaker 5: end of those. 150 00:07:45,120 --> 00:07:48,040 Speaker 1: Five more than five years. At this point, a little. 151 00:07:47,800 --> 00:07:50,600 Speaker 5: Bit going to We're going to figure out eventually the 152 00:07:50,760 --> 00:07:54,480 Speaker 5: end and we will have taken We've already taken, you know, 153 00:07:54,600 --> 00:07:57,200 Speaker 5: a lot of billions of dollars out off of several 154 00:07:57,240 --> 00:08:02,480 Speaker 5: hundred million dollar investment and maybe more to come, we hope. 155 00:08:02,680 --> 00:08:05,560 Speaker 5: And so when that's all said and none, we got 156 00:08:05,600 --> 00:08:08,200 Speaker 5: all the content onto Peacock, but we had to start 157 00:08:09,120 --> 00:08:11,520 Speaker 5: at a very late date compared to other streaming coad 158 00:08:11,600 --> 00:08:14,760 Speaker 5: So our strategy was to take all the sports we 159 00:08:14,840 --> 00:08:17,760 Speaker 5: had and now make them available to people who didn't 160 00:08:17,760 --> 00:08:20,120 Speaker 5: buy the bundle. We're the first ones in a way 161 00:08:20,120 --> 00:08:23,480 Speaker 5: to actually do that, and then later on all the 162 00:08:23,520 --> 00:08:28,160 Speaker 5: episodes and all the seasons and all the great content 163 00:08:28,200 --> 00:08:31,160 Speaker 5: that Donna's making and film created a new set of windows. 164 00:08:32,120 --> 00:08:35,079 Speaker 5: Team did a super job where some of our content 165 00:08:35,320 --> 00:08:37,840 Speaker 5: is for four months, all of it's on Peacock. The 166 00:08:37,880 --> 00:08:42,840 Speaker 5: next ten months it goes to either Amazon or Netflix, 167 00:08:42,960 --> 00:08:46,040 Speaker 5: and then back to Peacock. Nobody had ever done that before, 168 00:08:46,600 --> 00:08:49,800 Speaker 5: So we've been kind of innovating, I think, in the 169 00:08:50,160 --> 00:08:52,760 Speaker 5: changing industry and the changing landscape to work for our 170 00:08:52,840 --> 00:08:56,199 Speaker 5: set of assets to give us a very sustainable path 171 00:08:56,240 --> 00:08:58,839 Speaker 5: to be able to say to you that our media 172 00:08:58,920 --> 00:09:02,079 Speaker 5: business will be profit is profitable, will continue to be profitable, 173 00:09:02,440 --> 00:09:05,880 Speaker 5: and I believe will grow despite the downward pressure because 174 00:09:05,880 --> 00:09:06,800 Speaker 5: of the growth of Peacock. 175 00:09:06,960 --> 00:09:11,719 Speaker 4: Right, I'm wondering if you are confident in Peacock on 176 00:09:11,760 --> 00:09:15,520 Speaker 4: its own, not on its own, you know, within your company, 177 00:09:15,559 --> 00:09:18,240 Speaker 4: but as a as a viable streaming service going forward. 178 00:09:18,280 --> 00:09:20,959 Speaker 4: Why it's been publicly reported by Bloomberg and others. You've 179 00:09:21,000 --> 00:09:25,000 Speaker 4: had conversations with other companies about merging streaming services, joint ventures, 180 00:09:25,000 --> 00:09:27,280 Speaker 4: that sort of thing. You know, paramounts certainly been out there. 181 00:09:27,440 --> 00:09:30,680 Speaker 4: Why have those talks if you're a big believer in Peacock. 182 00:09:31,400 --> 00:09:36,280 Speaker 5: Well, there's always just because you reported at Bloomberg, I'm 183 00:09:36,280 --> 00:09:39,360 Speaker 5: not going say it's accurate, but of course if it's Bloomberg, 184 00:09:39,920 --> 00:09:40,920 Speaker 5: it must be accurate. 185 00:09:41,040 --> 00:09:44,680 Speaker 4: So therefore, well you reference the Journal they also reported. 186 00:09:44,720 --> 00:09:46,480 Speaker 4: I feel like if we're if both Bloomberg and the 187 00:09:46,559 --> 00:09:48,360 Speaker 4: Journal are reporting something odds. 188 00:09:48,000 --> 00:09:48,760 Speaker 1: Are it's accurate? 189 00:09:48,840 --> 00:09:54,440 Speaker 5: Absolutely so, and throw NBC News in there too. So 190 00:09:56,480 --> 00:10:00,120 Speaker 5: in all seriousness, obviously people are going to say, there 191 00:10:00,160 --> 00:10:02,440 Speaker 5: is a changing landscape, what can I do that would 192 00:10:02,520 --> 00:10:05,040 Speaker 5: advance myself? So conversations is always going to happen. They 193 00:10:05,040 --> 00:10:08,160 Speaker 5: happen all businesses all the time. I think it's a 194 00:10:08,200 --> 00:10:14,120 Speaker 5: tough thing to actually get executed because I'm a believer 195 00:10:15,040 --> 00:10:17,640 Speaker 5: coming from where I started my career in cable. 196 00:10:18,679 --> 00:10:20,520 Speaker 1: My first job was selling HBO. 197 00:10:20,280 --> 00:10:24,040 Speaker 5: Door to door, one of the first jobs, and we 198 00:10:24,080 --> 00:10:26,280 Speaker 5: had a lot of channels. When John Malone said we're 199 00:10:26,280 --> 00:10:29,480 Speaker 5: going to go to five hundred channels, it kind of 200 00:10:29,679 --> 00:10:32,120 Speaker 5: got laughed about. And then the Internet, of course went 201 00:10:32,160 --> 00:10:36,520 Speaker 5: to Infinity Infinity, so the notion that we'd have ten 202 00:10:36,559 --> 00:10:40,320 Speaker 5: streaming service doesn't intimidate me whatsoever. The technology for the 203 00:10:40,320 --> 00:10:43,920 Speaker 5: consumer is the question can I bounce from show to show. 204 00:10:44,080 --> 00:10:46,559 Speaker 4: I'm not sure hard to get from Netflix to Peacock 205 00:10:46,640 --> 00:10:47,080 Speaker 4: to Apple. 206 00:10:47,720 --> 00:10:50,000 Speaker 5: If you believe that's how it's going to be, then 207 00:10:50,240 --> 00:10:52,880 Speaker 5: that's an issue. I'm coming from a world that we 208 00:10:52,920 --> 00:10:54,960 Speaker 5: went from three channels when my dad started to five 209 00:10:55,000 --> 00:10:58,120 Speaker 5: hundred channels and we had no problem doing that, and 210 00:10:58,200 --> 00:10:59,280 Speaker 5: the consumer. 211 00:10:58,840 --> 00:11:02,120 Speaker 1: Got used to it. So the question will be can 212 00:11:02,160 --> 00:11:02,800 Speaker 1: we solve that? 213 00:11:02,840 --> 00:11:05,440 Speaker 5: Well, we have a technology which we've licensed to Charter, 214 00:11:05,520 --> 00:11:08,000 Speaker 5: We've launched the Rogers. We do it with Sky, we 215 00:11:08,080 --> 00:11:11,000 Speaker 5: do in Australia, we do it in South Africa where 216 00:11:11,040 --> 00:11:13,320 Speaker 5: you just talk to it and say House of Cards, 217 00:11:14,200 --> 00:11:18,640 Speaker 5: Sunday night football, Dodgers game, congratulations, af Phillies didn't do. 218 00:11:18,600 --> 00:11:23,040 Speaker 1: So well yesterday. You just go. It's just like changing channels. 219 00:11:23,760 --> 00:11:25,920 Speaker 5: Now somebody will come along and say, well, can I 220 00:11:25,920 --> 00:11:28,960 Speaker 5: buy one subscription and get all these services? 221 00:11:28,960 --> 00:11:29,920 Speaker 1: So I'm not out of luck. 222 00:11:30,000 --> 00:11:32,440 Speaker 5: Well that sounds like cable TV was, So I have 223 00:11:32,480 --> 00:11:35,000 Speaker 5: a bias that I could see it all kind of 224 00:11:35,080 --> 00:11:38,240 Speaker 5: being some form of consumer wants to go where the 225 00:11:38,280 --> 00:11:42,760 Speaker 5: great content is. And if AMC makes a show breaking 226 00:11:42,800 --> 00:11:46,559 Speaker 5: bad and nobody had ever watched AMC before that, perhaps 227 00:11:47,160 --> 00:11:49,719 Speaker 5: and all of a sudden, they had AMC and they 228 00:11:49,720 --> 00:11:50,480 Speaker 5: had breaking bad. 229 00:11:50,559 --> 00:11:55,560 Speaker 1: That's the great community here makes the breakthrough. 230 00:11:56,720 --> 00:11:59,440 Speaker 5: Must have programming, whether that one day is an Olympics 231 00:11:59,520 --> 00:12:01,800 Speaker 5: or one day is a show that I never knew 232 00:12:01,920 --> 00:12:05,560 Speaker 5: I wanted, and the word of mouth, and I'm confident 233 00:12:05,600 --> 00:12:09,000 Speaker 5: that Peacock can play an important role in that. And 234 00:12:09,040 --> 00:12:11,360 Speaker 5: whether we do that with others or by ourselves or 235 00:12:11,400 --> 00:12:13,800 Speaker 5: in some sort of partnership, you know, those are things 236 00:12:13,800 --> 00:12:16,000 Speaker 5: that right today we're pretty happy where we're at. 237 00:12:16,040 --> 00:12:19,400 Speaker 1: But we'll see. We didn't bid on Paramount. You know, 238 00:12:19,480 --> 00:12:21,720 Speaker 1: all the. 239 00:12:20,760 --> 00:12:23,600 Speaker 5: Press wants to have us do something I don't know 240 00:12:23,640 --> 00:12:25,040 Speaker 5: that we are going to do. 241 00:12:25,200 --> 00:12:27,400 Speaker 4: Right, Okay, I was going to take you in another direction, 242 00:12:27,440 --> 00:12:28,800 Speaker 4: but you brought up M and A, so let's go 243 00:12:28,840 --> 00:12:33,440 Speaker 4: and do it. You didn't bet on Paramount. The company 244 00:12:33,480 --> 00:12:36,720 Speaker 4: you've been linked to most often is WBD. There's this 245 00:12:36,800 --> 00:12:39,280 Speaker 4: sort of belief in the market. You want to spin 246 00:12:39,360 --> 00:12:41,840 Speaker 4: out any Universal, you want to merger with Warner Brothers, Discovery, 247 00:12:41,880 --> 00:12:44,960 Speaker 4: you want to buy something like that. You've publicly, privately, 248 00:12:45,120 --> 00:12:49,440 Speaker 4: through my understanding, like been not necessarily dismissive, but said 249 00:12:49,480 --> 00:12:53,080 Speaker 4: you don't think that's going to happen. Is why don't 250 00:12:53,080 --> 00:12:55,319 Speaker 4: you think that that deal makes sense? 251 00:12:56,360 --> 00:12:58,640 Speaker 5: Well, I think I don't want to come on any 252 00:12:58,640 --> 00:13:00,760 Speaker 5: specific deal, and you can understand and why that would 253 00:13:00,800 --> 00:13:05,920 Speaker 5: be the case. And you know, there are a wonderful 254 00:13:05,920 --> 00:13:09,600 Speaker 5: set of assets and Davids Aslove is doing working really hard, 255 00:13:09,800 --> 00:13:11,000 Speaker 5: trying to figure out. 256 00:13:10,880 --> 00:13:12,040 Speaker 4: Back to say, doing a good job. 257 00:13:12,080 --> 00:13:14,640 Speaker 5: And then your self, how do you how can you 258 00:13:14,679 --> 00:13:20,760 Speaker 5: read my mind? But I in all seriousness here they're 259 00:13:20,800 --> 00:13:23,360 Speaker 5: trying to do something very different than what I just described. 260 00:13:23,600 --> 00:13:26,560 Speaker 5: And therefore I think we're going to do our thing. 261 00:13:27,080 --> 00:13:30,679 Speaker 5: And we're the company we've got and the assets and 262 00:13:30,720 --> 00:13:31,400 Speaker 5: the team. 263 00:13:31,520 --> 00:13:32,000 Speaker 1: The people. 264 00:13:32,920 --> 00:13:35,800 Speaker 5: You know, I'm you know, you can characterize any way 265 00:13:35,800 --> 00:13:39,199 Speaker 5: you want. I think we're on a good track. And 266 00:13:39,440 --> 00:13:44,800 Speaker 5: I start because I think at its heart, the company 267 00:13:44,880 --> 00:13:48,000 Speaker 5: we've got started with again before I was there for 268 00:13:48,320 --> 00:13:51,160 Speaker 5: fifty years at NBC and one hundred years at Universal. 269 00:13:51,600 --> 00:13:55,360 Speaker 5: But take NBC and the assets that have been created 270 00:13:56,000 --> 00:13:59,880 Speaker 5: are appealed to Americans and maybe they appealed to Britain too. 271 00:14:00,080 --> 00:14:04,960 Speaker 5: It's English speaking for the most part, it's relevant. One 272 00:14:05,040 --> 00:14:08,560 Speaker 5: hundred million consumers touch us every ninety days. Most of 273 00:14:08,600 --> 00:14:15,040 Speaker 5: the country watches something from NBC Universal, and how do 274 00:14:15,120 --> 00:14:18,040 Speaker 5: we get that to the digital world and monetize that 275 00:14:18,280 --> 00:14:19,160 Speaker 5: with digital ads. 276 00:14:19,680 --> 00:14:20,800 Speaker 1: That's what we're trying to do. 277 00:14:21,120 --> 00:14:24,680 Speaker 5: And we've got a broadband business and a television business 278 00:14:24,680 --> 00:14:26,160 Speaker 5: at Comcast Exfinity. 279 00:14:26,800 --> 00:14:28,480 Speaker 1: So during the Olympics we. 280 00:14:28,400 --> 00:14:32,680 Speaker 5: Had almost double the viewing two x in the Comcast 281 00:14:32,720 --> 00:14:35,240 Speaker 5: homes because when you turned on the TV, there was 282 00:14:35,240 --> 00:14:38,000 Speaker 5: all things Olympics in our X one guide, in our 283 00:14:38,560 --> 00:14:44,000 Speaker 5: Zumo boxes. And I think that we have a playbook 284 00:14:44,360 --> 00:14:47,720 Speaker 5: that works for us. Other companies are trying to chase Netflix, 285 00:14:47,840 --> 00:14:51,160 Speaker 5: and you've got Netflix coming on later. Done an incredible 286 00:14:51,240 --> 00:14:55,160 Speaker 5: job everywhere in the world, but in the US, I 287 00:14:55,160 --> 00:14:58,000 Speaker 5: think we can do an incredible job in our And 288 00:14:58,040 --> 00:15:01,440 Speaker 5: then we've got Sky in the UK, which had been 289 00:15:01,480 --> 00:15:03,160 Speaker 5: doing the same kind of thing in the UK, so 290 00:15:03,160 --> 00:15:05,920 Speaker 5: it kind of fits really well in our English speaking 291 00:15:06,800 --> 00:15:11,080 Speaker 5: universal it does globally distribute, so we set up a 292 00:15:11,080 --> 00:15:14,360 Speaker 5: partnership with Paramount Sky show Time, we partner with others. 293 00:15:15,000 --> 00:15:17,800 Speaker 5: There's always going to be conversations around how do we 294 00:15:18,240 --> 00:15:22,440 Speaker 5: remain very relevant globally, But where we have our own 295 00:15:22,480 --> 00:15:27,040 Speaker 5: distribution and our own platforms and our own set of skills, 296 00:15:27,600 --> 00:15:29,080 Speaker 5: I think that's what we're focused on. 297 00:15:29,400 --> 00:15:32,000 Speaker 4: Would do you think the current regulatory climate would you 298 00:15:32,040 --> 00:15:34,000 Speaker 4: be able to buy a big media company. 299 00:15:34,400 --> 00:15:35,280 Speaker 1: Look, I think. 300 00:15:37,160 --> 00:15:39,880 Speaker 5: That's not a reason were that I would give you 301 00:15:39,920 --> 00:15:41,760 Speaker 5: as an answer not to do something. 302 00:15:42,680 --> 00:15:43,640 Speaker 1: You brought up cable. 303 00:15:43,840 --> 00:15:48,640 Speaker 4: There was a belief, I think among analyst executives for 304 00:15:48,640 --> 00:15:51,240 Speaker 4: a while that there was what you'd call a floor. Right, 305 00:15:51,400 --> 00:15:53,920 Speaker 4: there's been a decline in the cable business, but at 306 00:15:53,960 --> 00:15:55,880 Speaker 4: a certain point it would level off because a certain 307 00:15:55,960 --> 00:15:58,040 Speaker 4: number of people would always want to pay for it 308 00:15:59,080 --> 00:16:01,200 Speaker 4: or would just have it right, like older people, whatever, 309 00:16:01,240 --> 00:16:05,480 Speaker 4: sports fans, whatever it may be. The last six month, 310 00:16:05,520 --> 00:16:07,360 Speaker 4: twelve months, it feels like there's been a little bit 311 00:16:07,400 --> 00:16:09,440 Speaker 4: of a revision there where there's some discussion that maybe 312 00:16:09,440 --> 00:16:11,920 Speaker 4: there isn't a floor, that it just falls to zero 313 00:16:12,400 --> 00:16:15,160 Speaker 4: when you're talking with your finance guys, for strategy people, 314 00:16:15,160 --> 00:16:18,040 Speaker 4: what do you see as or the base the floor 315 00:16:18,160 --> 00:16:18,680 Speaker 4: for cable. 316 00:16:19,400 --> 00:16:23,400 Speaker 5: So that's not actually how I think we should think, 317 00:16:23,800 --> 00:16:25,840 Speaker 5: because who knows is they answer that question. 318 00:16:27,120 --> 00:16:30,239 Speaker 1: I look at it as a consumer and then trying. 319 00:16:30,000 --> 00:16:32,360 Speaker 5: To have a set of products that we offer the 320 00:16:32,400 --> 00:16:38,320 Speaker 5: consumer that were indifferent to the answer. So if there's 321 00:16:38,400 --> 00:16:41,480 Speaker 5: many people want to buy a bundle in video great. 322 00:16:41,960 --> 00:16:45,000 Speaker 5: We want to have the best bundle and that's Exfinity. 323 00:16:45,360 --> 00:16:48,400 Speaker 5: We have a talking remote, Emmy Award winning, we have 324 00:16:48,640 --> 00:16:50,360 Speaker 5: all the content. We were the first people to put 325 00:16:50,440 --> 00:16:53,120 Speaker 5: Netflix on that box. It was just as good as HBO. 326 00:16:53,200 --> 00:16:56,240 Speaker 5: We could switch channels everything you said earlier, no problem. 327 00:16:56,480 --> 00:16:59,360 Speaker 5: We have the I think the best entertainment operating system 328 00:16:59,360 --> 00:17:02,880 Speaker 5: out there. The same time, along came streaming in a 329 00:17:02,960 --> 00:17:05,760 Speaker 5: much healthier way, and people said, I want. 330 00:17:05,640 --> 00:17:06,320 Speaker 1: To cut the cord. 331 00:17:07,080 --> 00:17:10,840 Speaker 5: We make virtually the same amount of money, some cases 332 00:17:11,040 --> 00:17:13,639 Speaker 5: more if you take broadband only. 333 00:17:14,400 --> 00:17:16,280 Speaker 1: Why do I say more? Well, we don't have. 334 00:17:16,240 --> 00:17:20,080 Speaker 5: To bill you all those extra fees, and we don't 335 00:17:20,080 --> 00:17:24,800 Speaker 5: have to raise rates. And when you're unhappy about something, 336 00:17:24,840 --> 00:17:25,520 Speaker 5: you call us. 337 00:17:25,840 --> 00:17:27,400 Speaker 1: There's cost to doing business. 338 00:17:28,080 --> 00:17:30,919 Speaker 5: Now you're buying your streaming, you're dealing directly with the 339 00:17:30,960 --> 00:17:36,000 Speaker 5: content company. And we managed to get our business to 340 00:17:36,000 --> 00:17:40,240 Speaker 5: where we're in. Different to the answer that question. So 341 00:17:41,040 --> 00:17:43,600 Speaker 5: I remember the first time I met Bill Gates, really 342 00:17:43,840 --> 00:17:47,760 Speaker 5: sat down and had a meeting. He said, someday, this 343 00:17:47,840 --> 00:17:50,480 Speaker 5: is in the nineties, the Internet was just starting. You 344 00:17:50,480 --> 00:17:53,320 Speaker 5: will have more data customers than you have video customers. 345 00:17:53,320 --> 00:17:56,400 Speaker 5: At that point, we had zero Internet and we had, 346 00:17:56,680 --> 00:18:01,720 Speaker 5: I don't know, twenty twenty five million video. Fast forward, 347 00:18:02,119 --> 00:18:06,920 Speaker 5: we have thirty two thirty two million broadband and half 348 00:18:06,960 --> 00:18:11,359 Speaker 5: as many video. So we set up our company with 349 00:18:11,440 --> 00:18:16,440 Speaker 5: fiber optics, with long term investments to anticipate what has happened. 350 00:18:17,000 --> 00:18:19,680 Speaker 1: And now are we perfect about that? Of course not so. 351 00:18:20,080 --> 00:18:23,520 Speaker 5: I think I think you know, there could be more decline, 352 00:18:23,560 --> 00:18:27,080 Speaker 5: It could level off YouTube TV, Hulu Live. 353 00:18:28,560 --> 00:18:30,040 Speaker 4: Is it going to hurt your soul a little bit 354 00:18:30,040 --> 00:18:33,080 Speaker 4: if YouTube TV surpasses you as the biggest cable operator. 355 00:18:33,240 --> 00:18:36,040 Speaker 5: Not if they're using Infinity broadband and watching NBC and 356 00:18:36,080 --> 00:18:40,679 Speaker 5: watching it, we will have transitioned our company pretty carefully. 357 00:18:40,760 --> 00:18:43,520 Speaker 5: We're going to, you know, be pretty happy with the 358 00:18:43,560 --> 00:18:45,280 Speaker 5: Comcast NBCUniversal that we got. 359 00:18:45,720 --> 00:18:49,480 Speaker 4: You brought up internet. Internet seems to also it's not 360 00:18:49,520 --> 00:18:52,560 Speaker 4: shrinking at all. Obviously everybody needs it. But most people 361 00:18:53,240 --> 00:18:55,399 Speaker 4: now have access to the internet, right there's maybe thirty 362 00:18:55,400 --> 00:18:57,920 Speaker 4: forty million homes or people that don't because of where 363 00:18:57,960 --> 00:19:02,119 Speaker 4: they live. When you're thinking about the future trajectory and 364 00:19:02,160 --> 00:19:04,080 Speaker 4: growth of your business, is there a business you're not 365 00:19:04,280 --> 00:19:06,159 Speaker 4: in now that you feel like you need to be 366 00:19:06,280 --> 00:19:09,040 Speaker 4: to sort of be a quote unquote growth story or 367 00:19:09,080 --> 00:19:10,560 Speaker 4: can you do it with the assets you have? 368 00:19:11,240 --> 00:19:18,000 Speaker 5: Well, I obviously there are things like AI that intrigue 369 00:19:18,040 --> 00:19:21,960 Speaker 5: everybody and make it fun and stimulating to want to 370 00:19:22,000 --> 00:19:23,960 Speaker 5: go to work every day and what's happening? And I 371 00:19:24,040 --> 00:19:30,200 Speaker 5: love technology and it's inspiring and scary and all things 372 00:19:30,240 --> 00:19:34,800 Speaker 5: in between. So I had answer. I'd start the answer 373 00:19:34,840 --> 00:19:37,760 Speaker 5: to that by saying, Okay, go back ten years and 374 00:19:37,840 --> 00:19:41,040 Speaker 5: ask yourself what you did with the internet. Then go 375 00:19:41,160 --> 00:19:44,159 Speaker 5: back to the that Bill Gates moment, and what were 376 00:19:44,160 --> 00:19:46,520 Speaker 5: you doing twenty years ago with the internet whatever number 377 00:19:46,520 --> 00:19:50,520 Speaker 5: of years? And we were doing pictures, and then we 378 00:19:50,560 --> 00:19:54,480 Speaker 5: got to Napster and we got to go down the list, 379 00:19:54,960 --> 00:19:59,320 Speaker 5: and now we're into four K and we're working from 380 00:19:59,359 --> 00:20:02,960 Speaker 5: home and we think we're done. And the way I 381 00:20:03,359 --> 00:20:06,960 Speaker 5: keep score is bits per home. And if you look 382 00:20:07,000 --> 00:20:11,480 Speaker 5: at the cagar of bits per home, it's gone up 383 00:20:12,240 --> 00:20:15,960 Speaker 5: twenty five thirty percent since nineteen ninety seven. 384 00:20:16,560 --> 00:20:18,879 Speaker 1: Every year we're doing what we hope. There are bits, 385 00:20:19,560 --> 00:20:20,439 Speaker 1: but they're your bits. 386 00:20:20,560 --> 00:20:24,120 Speaker 5: There's everybody in there's rooms bits, it's video cameras, it's 387 00:20:24,160 --> 00:20:25,640 Speaker 5: hopefully healthcare, and. 388 00:20:25,640 --> 00:20:29,200 Speaker 4: Do you get as that keeps growing as it moves 389 00:20:29,240 --> 00:20:33,120 Speaker 4: maybe to other devices you feel comfortable that your company 390 00:20:33,160 --> 00:20:34,439 Speaker 4: will capture enough of that. 391 00:20:34,800 --> 00:20:37,000 Speaker 5: So the name drop one other person who I think 392 00:20:37,119 --> 00:20:39,040 Speaker 5: understood this better than way better than me. 393 00:20:39,680 --> 00:20:42,240 Speaker 1: First time. Got to many times. 394 00:20:42,000 --> 00:20:44,360 Speaker 5: Go visit with Steve Jobs to try to get an 395 00:20:44,400 --> 00:20:47,320 Speaker 5: Apple box to be our box. And we were trying 396 00:20:47,359 --> 00:20:49,520 Speaker 5: to merge boxes and of course they have Apple TV, 397 00:20:49,760 --> 00:20:50,480 Speaker 5: we have our box. 398 00:20:50,680 --> 00:20:52,200 Speaker 1: Never actually happened, and. 399 00:20:52,240 --> 00:20:53,680 Speaker 5: One of the meetings they said, well, you should give 400 00:20:53,720 --> 00:20:57,840 Speaker 5: up because we're going to win that. Well, you should 401 00:20:57,840 --> 00:21:01,240 Speaker 5: put Wi Fi in all your boxes and that's how 402 00:21:01,240 --> 00:21:05,479 Speaker 5: you'll win. And you should be the best pipe and 403 00:21:05,520 --> 00:21:08,280 Speaker 5: he said the best dumb pipe. And I said, well, 404 00:21:08,440 --> 00:21:11,440 Speaker 5: that doesn't sound very exciting to be the best dumb pipe. 405 00:21:11,480 --> 00:21:14,239 Speaker 5: And we would edit that when I go home. So 406 00:21:14,280 --> 00:21:19,080 Speaker 5: I went home, went to our chief technology officer and said, 407 00:21:19,240 --> 00:21:26,439 Speaker 5: what's Wi Fi? And today we have the nation's biggest 408 00:21:26,440 --> 00:21:28,800 Speaker 5: Wi Fi network, and we have more customers and ninety 409 00:21:28,800 --> 00:21:33,600 Speaker 5: percent of your cell phone usage ninety percent is Wi Fi. 410 00:21:34,640 --> 00:21:37,879 Speaker 5: And that's because seventy percent of all the bits going 411 00:21:37,880 --> 00:21:41,160 Speaker 5: over the Internet right now are streaming, and streaming wasn't 412 00:21:41,160 --> 00:21:44,280 Speaker 5: here ten years ago. So I sit here and say 413 00:21:44,440 --> 00:21:47,000 Speaker 5: the most exciting thing about our company is what's coming 414 00:21:47,000 --> 00:21:50,000 Speaker 5: in the next ten years that happens in innovation around 415 00:21:50,040 --> 00:21:54,000 Speaker 5: the world, hopefully here in America, hopefully Silicon Valley in 416 00:21:54,359 --> 00:21:59,040 Speaker 5: LA and everywhere else Philadelphia, and that we're going to 417 00:21:59,080 --> 00:22:01,640 Speaker 5: continue to have bits home go up and whether that's 418 00:22:01,680 --> 00:22:06,280 Speaker 5: Apple provision pro Streaming sports is a natural. When we 419 00:22:06,400 --> 00:22:11,000 Speaker 5: had one football game in America, went from CBS, NBC 420 00:22:11,160 --> 00:22:15,399 Speaker 5: and Fox had Thursday Night and it moved to Prime 421 00:22:16,080 --> 00:22:20,640 Speaker 5: so it went from TV to streaming. The number one 422 00:22:20,720 --> 00:22:24,880 Speaker 5: night in bits traveling the Internet in America was Sunday night. 423 00:22:25,359 --> 00:22:26,199 Speaker 1: Thank you HBO. 424 00:22:29,280 --> 00:22:32,920 Speaker 5: The entire Internet moved at Thursday night with one football game. 425 00:22:33,320 --> 00:22:41,480 Speaker 5: So the number one night in consumption on bits on 426 00:22:43,080 --> 00:22:45,920 Speaker 5: Peacock was the single biggest night in the Internet's history 427 00:22:45,920 --> 00:22:48,959 Speaker 5: in America. Work flawlessly, super proud of that moment led 428 00:22:49,040 --> 00:22:52,840 Speaker 5: us to the Olympics. I think we're just scratching the 429 00:22:52,880 --> 00:22:58,440 Speaker 5: surface all regional sports, the Dodgers games. 430 00:22:56,880 --> 00:22:58,720 Speaker 4: You know, the regional sports network business. 431 00:22:58,760 --> 00:23:01,160 Speaker 5: I will think we're going to reinvent itself in streaming. 432 00:23:01,320 --> 00:23:04,760 Speaker 5: Right where else is that going? And so more and 433 00:23:04,800 --> 00:23:07,320 Speaker 5: more that cord cutting question are we which side of 434 00:23:07,320 --> 00:23:07,880 Speaker 5: that are we on? 435 00:23:08,600 --> 00:23:10,040 Speaker 1: Because the more it happens. 436 00:23:10,040 --> 00:23:12,280 Speaker 5: The more broadbands we're going to sell, the more broadband 437 00:23:12,400 --> 00:23:13,879 Speaker 5: is going to be valuable to you as a consumer, 438 00:23:13,880 --> 00:23:17,040 Speaker 5: and more it's going to differentiate from wireless. We have 439 00:23:17,119 --> 00:23:19,359 Speaker 5: the best network, So I go back to what jobs said, 440 00:23:19,760 --> 00:23:21,040 Speaker 5: let's be the best network. 441 00:23:21,080 --> 00:23:22,720 Speaker 1: We'll edit out dumb and. 442 00:23:22,720 --> 00:23:24,480 Speaker 5: Let's make sure we never lose sight of that. And 443 00:23:24,480 --> 00:23:26,720 Speaker 5: that's where we're investing. So again, going back to what's 444 00:23:26,720 --> 00:23:30,280 Speaker 5: a for our company, look like a winning hand. Be 445 00:23:30,440 --> 00:23:33,159 Speaker 5: on the side that you don't care what the answer 446 00:23:33,240 --> 00:23:35,840 Speaker 5: is to that question. If the consumer wants to cut it, yes, 447 00:23:35,880 --> 00:23:38,880 Speaker 5: that will hurt some parts of our company, but other 448 00:23:38,920 --> 00:23:41,480 Speaker 5: parts of our company are going to succeed, and that's 449 00:23:41,520 --> 00:23:45,160 Speaker 5: going to be you know, indifferent or net Could. 450 00:23:45,560 --> 00:23:47,680 Speaker 4: You brought up sports? You just made a really big 451 00:23:47,720 --> 00:23:53,399 Speaker 4: deal for the NBA. So I'm told there's a publicly 452 00:23:53,400 --> 00:23:54,280 Speaker 4: announced now no. 453 00:23:54,640 --> 00:23:56,800 Speaker 1: Oh yeah, very excited about it. 454 00:23:57,240 --> 00:24:01,600 Speaker 4: Two questions. One, you're I have know the packages aren't 455 00:24:01,600 --> 00:24:03,919 Speaker 4: exactly the same, but you know the price be like 456 00:24:04,000 --> 00:24:07,160 Speaker 4: doubled this time, more than doubled. How do you pencil 457 00:24:07,200 --> 00:24:10,280 Speaker 4: out the the math on that? Because one of the 458 00:24:10,320 --> 00:24:13,080 Speaker 4: criticisms that at David Thazlewood level, he's a loser in 459 00:24:13,080 --> 00:24:16,359 Speaker 4: the circumstance would be you overpaid. There's no way that 460 00:24:16,400 --> 00:24:17,400 Speaker 4: those numbers make sense. 461 00:24:18,480 --> 00:24:21,640 Speaker 1: Well, we'll see right who knows. 462 00:24:22,960 --> 00:24:25,400 Speaker 5: He's suing to get it, So I don't think that 463 00:24:25,400 --> 00:24:27,760 Speaker 5: that's a uh A good one. 464 00:24:28,040 --> 00:24:29,760 Speaker 4: He believes he'll have to pay. Last if you went 465 00:24:29,840 --> 00:24:30,960 Speaker 4: with that lawsuit, I believe. 466 00:24:32,080 --> 00:24:40,119 Speaker 3: Okay, So you had Disney, Amazon, ourselves and potentially those guys, 467 00:24:41,000 --> 00:24:43,880 Speaker 3: and if you took it on a per game basis 468 00:24:44,040 --> 00:24:47,160 Speaker 3: and adjusted right, that one is the finals. We didn't 469 00:24:47,160 --> 00:24:50,000 Speaker 3: get those, we got the semi finals. So adjusted a 470 00:24:50,080 --> 00:24:52,720 Speaker 3: regular season added all and get it down to some 471 00:24:52,760 --> 00:24:57,320 Speaker 3: sort of game per CPM or however you would look 472 00:24:57,359 --> 00:25:00,240 Speaker 3: at it. We're all basically paying the same price. In 473 00:25:00,280 --> 00:25:03,480 Speaker 3: our case, we got the most quantity as well as 474 00:25:03,520 --> 00:25:07,800 Speaker 3: some incredible quality. And so the life cycle of Peacock 475 00:25:08,640 --> 00:25:10,639 Speaker 3: and where we're at it is going to be a 476 00:25:10,640 --> 00:25:11,200 Speaker 3: big driver. 477 00:25:11,440 --> 00:25:13,600 Speaker 1: It's a nine month product. 478 00:25:14,119 --> 00:25:20,040 Speaker 5: It is relevant to a really growing, diverse, young audience, 479 00:25:20,400 --> 00:25:23,520 Speaker 5: exactly what we want for Peacock. It fits in with 480 00:25:23,760 --> 00:25:27,679 Speaker 5: writing the schedule after Sunday night football. We've got Olympics, 481 00:25:27,720 --> 00:25:32,160 Speaker 5: We've got many other great events, and. 482 00:25:32,080 --> 00:25:36,280 Speaker 1: So we think this is what the market was. 483 00:25:36,640 --> 00:25:39,720 Speaker 5: It's about once every twenty five years, twenty years, that 484 00:25:39,800 --> 00:25:42,760 Speaker 5: there's a platform change. We're in the right place at 485 00:25:42,800 --> 00:25:46,400 Speaker 5: the right time. Team Mark and Rick Cordell and Mike 486 00:25:46,440 --> 00:25:51,679 Speaker 5: Cavanaugh others, fantastic job making it happen, and we really 487 00:25:51,920 --> 00:25:55,000 Speaker 5: admire what the NBA is going to do has done, 488 00:25:55,080 --> 00:25:56,359 Speaker 5: and we're excited to be a partner. 489 00:25:56,440 --> 00:25:57,400 Speaker 1: Couldn't be more excited. 490 00:25:57,480 --> 00:26:00,399 Speaker 4: Does that mean you're like, are you sort of out 491 00:26:00,520 --> 00:26:02,680 Speaker 4: on the next big like the UFC's coming up next 492 00:26:02,720 --> 00:26:05,040 Speaker 4: year you sort of made your bet that's not for you? 493 00:26:05,200 --> 00:26:07,400 Speaker 4: Or do you still have the spending to go after 494 00:26:07,400 --> 00:26:07,840 Speaker 4: We haven't. 495 00:26:08,119 --> 00:26:09,320 Speaker 1: You know, I don't want to speak on any one. 496 00:26:09,359 --> 00:26:15,960 Speaker 5: We haven't typically done that property, but we had NBA 497 00:26:16,119 --> 00:26:19,400 Speaker 5: on NBC felt like no, I grew up in it right. 498 00:26:20,000 --> 00:26:24,119 Speaker 5: There's a real, just incredible enthusiasm at NBC Sports and 499 00:26:24,200 --> 00:26:26,359 Speaker 5: across the whole company that this is going to be 500 00:26:26,400 --> 00:26:28,960 Speaker 5: an engine for growth for the many many years and 501 00:26:28,960 --> 00:26:31,960 Speaker 5: hopefully there'll be a twenty thirty year relationship or long 502 00:26:32,119 --> 00:26:33,560 Speaker 5: long after I'm gone. 503 00:26:33,760 --> 00:26:34,600 Speaker 1: So I'm excited. 504 00:26:35,000 --> 00:26:36,800 Speaker 4: I think, unfortunately about out of time. But I didn't 505 00:26:36,800 --> 00:26:39,040 Speaker 4: want to ask you one more question. Because you've always 506 00:26:39,040 --> 00:26:39,800 Speaker 4: the one more question. 507 00:26:40,000 --> 00:26:40,600 Speaker 1: This one's easy. 508 00:26:40,600 --> 00:26:43,320 Speaker 4: You brought up I'm ending on an easy note. This 509 00:26:43,359 --> 00:26:45,800 Speaker 4: year you brought up Steve Jobs, you brought up Bill Gates. 510 00:26:46,119 --> 00:26:48,440 Speaker 4: When you go to like the billionaire summer camps, right, 511 00:26:48,520 --> 00:26:48,760 Speaker 4: like the. 512 00:26:51,320 --> 00:26:52,680 Speaker 1: Who's your click? Who are? 513 00:26:55,280 --> 00:26:58,800 Speaker 5: I was helping my wife recover from knee surgery. I 514 00:26:58,840 --> 00:27:03,360 Speaker 5: wasn't there, so I didn't go any camps. It's been 515 00:27:03,400 --> 00:27:04,000 Speaker 5: a great. 516 00:27:06,680 --> 00:27:06,720 Speaker 1: No. 517 00:27:06,960 --> 00:27:11,119 Speaker 5: It's a fun industry, right, And what happened over time 518 00:27:11,480 --> 00:27:14,560 Speaker 5: and the first time my dad and I were invited 519 00:27:14,600 --> 00:27:18,680 Speaker 5: to that, we went together. We always asked to stay 520 00:27:18,680 --> 00:27:21,639 Speaker 5: in the same room and just use it as a 521 00:27:21,720 --> 00:27:24,480 Speaker 5: chance to like pinch ourselves that a company. When I 522 00:27:24,520 --> 00:27:28,239 Speaker 5: got out of college went to work for Comcasts, we 523 00:27:28,240 --> 00:27:31,600 Speaker 5: had twenty million in revenues and this year give or 524 00:27:31,640 --> 00:27:34,080 Speaker 5: take no guidance here, but you know called one hundred 525 00:27:34,080 --> 00:27:36,800 Speaker 5: and twenty billion, and it's like only in America. So 526 00:27:36,880 --> 00:27:39,679 Speaker 5: I think when we get to go and see the change, 527 00:27:39,720 --> 00:27:43,159 Speaker 5: and what's obviously changed over the years is now the 528 00:27:43,240 --> 00:27:45,920 Speaker 5: technology Google the first time they showed up or Yahoo, 529 00:27:45,920 --> 00:27:49,280 Speaker 5: remember Warren Buffett ask him a question of Yahoo, of 530 00:27:49,320 --> 00:27:52,280 Speaker 5: Jerry Yang or something like, well, tell me how you monetize, 531 00:27:52,280 --> 00:27:55,760 Speaker 5: and you know, nobody could understand. And now, of course 532 00:27:56,119 --> 00:27:59,199 Speaker 5: the world's changing. So I think that's what has allowed 533 00:27:59,200 --> 00:28:02,280 Speaker 5: our company. We've tried to partner with those and say 534 00:28:02,320 --> 00:28:04,359 Speaker 5: we don't have all the answers and keep some certain 535 00:28:04,400 --> 00:28:07,040 Speaker 5: sort of humility as we continue to be in a 536 00:28:07,119 --> 00:28:10,840 Speaker 5: very tough business and changing, and keep our enthusiasm and 537 00:28:11,000 --> 00:28:14,640 Speaker 5: attract great people. And that's, uh, that's what we're trying 538 00:28:14,640 --> 00:28:14,879 Speaker 5: to do. 539 00:28:15,160 --> 00:28:16,960 Speaker 4: Your dad started to pass the range Toro at a 540 00:28:16,960 --> 00:28:19,119 Speaker 4: pretty young age, right, Have you thought about that in 541 00:28:19,160 --> 00:28:20,600 Speaker 4: your circumstance at all? 542 00:28:20,720 --> 00:28:24,000 Speaker 5: You know, you know, I always it was a very 543 00:28:24,040 --> 00:28:29,280 Speaker 5: different company, and you know, we have great kids who 544 00:28:29,280 --> 00:28:32,399 Speaker 5: are doing their own thing in life. We'll see, But 545 00:28:33,080 --> 00:28:37,920 Speaker 5: Mike Cavanaugh, we've had we've attracted people over time who 546 00:28:38,240 --> 00:28:40,480 Speaker 5: I think, if I'm hit by a bus, our company 547 00:28:40,560 --> 00:28:41,320 Speaker 5: is in great shape. 548 00:28:41,320 --> 00:28:42,240 Speaker 1: But we've been. 549 00:28:42,120 --> 00:28:45,680 Speaker 5: Able to use the two tier stocks that my dad 550 00:28:45,720 --> 00:28:49,320 Speaker 5: created that kind of have a stability and a long 551 00:28:49,400 --> 00:28:53,720 Speaker 5: term investor owner mentality by trying to be trying to 552 00:28:53,760 --> 00:28:57,800 Speaker 5: recognize the public duty and importance of being a you know, 553 00:28:58,160 --> 00:28:59,280 Speaker 5: best in class company. 554 00:29:00,040 --> 00:29:00,920 Speaker 4: Ryan, thanks for being here. 555 00:29:01,000 --> 00:29:01,560 Speaker 1: Thanks Lucas. 556 00:29:06,440 --> 00:29:08,680 Speaker 2: All right, that of course, is the head of Comcast, 557 00:29:08,760 --> 00:29:11,120 Speaker 2: Brian Roberts with our Lucas Shaw. I mean this is 558 00:29:11,160 --> 00:29:15,800 Speaker 2: someone where the media business, right, cable business has certainly. 559 00:29:15,440 --> 00:29:16,760 Speaker 1: Been in decline. 560 00:29:16,800 --> 00:29:18,600 Speaker 6: I think it's fair to say well, but also said 561 00:29:19,120 --> 00:29:21,720 Speaker 6: where's the floor. That's what Lucas asked, where's the floor 562 00:29:21,760 --> 00:29:22,440 Speaker 6: of this business? 563 00:29:22,840 --> 00:29:24,480 Speaker 2: But he grew up in it right, and he's been 564 00:29:24,560 --> 00:29:26,640 Speaker 2: part of the changes. If you think about he came 565 00:29:26,680 --> 00:29:29,400 Speaker 2: to Comcast back in nineteen ninety, that's over a quarter 566 00:29:29,400 --> 00:29:32,040 Speaker 2: of a century ago. That company that he now leads 567 00:29:32,040 --> 00:29:33,560 Speaker 2: has transformed dramatically. 568 00:29:33,680 --> 00:29:36,680 Speaker 6: We'll just think about what the landscape looked like then 569 00:29:36,720 --> 00:29:38,760 Speaker 6: when Comcast was started by his father. He said, there 570 00:29:38,800 --> 00:29:41,240 Speaker 6: were three channels out there, and there were five hundred channels. 571 00:29:41,240 --> 00:29:43,600 Speaker 6: And now you have people using the smallest screens that 572 00:29:43,600 --> 00:29:45,360 Speaker 6: they carry around in their pockets each and every day 573 00:29:45,360 --> 00:29:48,560 Speaker 6: to consume more content than they're consuming on the big screen.