“While we are highly focused on controlling our costs for the benefit of our customers, price adjustments are a necessity in view of the increased cost of doing business in this challenging economic environment, including gas prices, healthcare costs, increases in the cost we pay for programming, and technology and service improvements. Even with these pressures, our average customer will pay only 4.5 percent more next year, well under the rate of inflation.
“The company spends about $6 billion a year on programming to give our customers the best content and the most video choices. While we have been aggressive at controlling costs, we expect continued increases in programming, particularly in sports. Comcast has also increased the value of its services and made investments to be able to offer the largest VOD library and most HD choices, which impacts the cost of delivering television services.
“For the sixth consecutive year we are not increasing our prices for our popular high-speed Internet or digital voice services. To give customers more choice, we have recently introduced new, more economical packages for our video, phone and high-speed Internet products. In fact, we offer the lowest priced basic video service among our competitors.”
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.comcast.com) is the nation's leading provider of entertainment, information and communications products and services. With 24.6 million cable customers, 14.4 million high-speed Internet customers, and 5.6 million Comcast Digital Voice customers, Comcast is principally involved in the development, management and operation of broadband cable systems and in the delivery of programming content.
Comcast's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, VERSUS, G4, PBS KIDS Sprout, TV One, ten Comcast SportsNets networks and Comcast Interactive Media, which develops and operates Comcast's Internet businesses, including Comcast.net (www.comcast.net). Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
Andrew C. Johnson
VP Communications, Comcast