2021 Shareholder Letter

Dear Fellow Shareholders,

2021 was an extraordinary year for Comcast. As the world continued to navigate ongoing challenges, we came together to create some of the most innovative products, enjoyable entertainment, and memorable guest experiences in the company’s nearly 60 years. A relentless focus on execution resulted in our strongest financial performance in history. And at the same time, we are making smart investments for the future. We enter 2022 with purpose, a roadmap for growth, and the team to get it done. 

Broadband remains the core, and in 2021 our gigabit speed network and focus on product differentiation fueled significant customer additions. A critical component of our connectivity strategy is Xfinity Mobile, which had a breakout year and now has four million lines. Growing these businesses is a top priority in 2022, and work is well underway to aggressively move forward on the path to 10G, further bundle wired and wireless, and serve more customers with broadband in the U.K. and Italy through Sky. As technology progresses in gaming, telehealth, education, and other areas, we have the network, products, and talent in place to meet and shape what’s next.  

Our Comcast and Sky engineers also continued to innovate on our proprietary global technology platform with the launch of two new products: Sky Glass and XClass TV. Built upon our collective investments in video aggregation and voice control over the last decade, both enable us to reach new audiences. Our portfolio is delivering five billion streams each week and changing the way people connect and consume content. Looking ahead, we see opportunities to further monetize our global technology platform as we enter new markets and add partners and distribution outlets.

The Year in Review

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In today’s increasingly dynamic environment, we brought exceptional content to viewers. With can’t-miss films, shows, sports, and news, NBCUniversal now reaches over 100 million U.S. households each quarter. We have a great slate for 2022 with big events like the Super Bowl, Olympic and Paralympic Winter Games, and World Cup; franchise hits including Jurassic and Minions; and returning and original television series. This lineup will bolster our highly profitable linear television networks and benefit Peacock as we build on the early success of our streaming service in the U.S. and recent international expansion.

At Theme Parks, the team did a wonderful job reopening safely while adding remarkable new attractions and parks including Jurassic World VelociCoaster in Orlando, Super Nintendo World in Osaka, The Secret Life of Pets: Off the Leash in Hollywood, and Universal Beijing Resort.

Reflecting on this outstanding year, I am particularly proud of the work we did to support our communities. We built on our DE&I programs and accelerated our efforts to address digital equity with the launch of Project UP, our commitment to invest $1 billion over the next decade to provide more people with the tools and resources they need to succeed in an increasingly digital society. We also made a new environmental pledge to be carbon neutral by 2035 across our global operations.

So, we begin 2022 with a strong foundation and optimism for the future. Our company is unique in so many ways. We have unmatched products, content, and experiences that reach hundreds of millions of people around the world and are investing strategically for the long-term. Importantly, we have a team that shows up every day for each other and our customers with resilience and passion. They are our heart and soul, and it is an honor to work alongside them.

BRIAN L. ROBERTS
CHAIRMAN AND CEO
February 14, 2022