27 Jun Comcast Growing Against Telecom Giants
Servicing the ever-growing telecommunications industry here in the U.S., telecom giants such as Verizon and AT&T, have been sitting at the top in the “business services space.”
These telecom giants, whether we like it or not, have taken a big chunk of the largest and most lucrative customers out there, thus leaving the other telecom vendors to focus on the small and medium businesses.
Despite the huge portfolios these major telecom companies have, their appetite still seems to keep growing at a steady rate. Currently, for telecom giant Comcast, small business accounts for over 70% of Comcast’s revenue and over 60% of its growth.”
Comcast plans to take their customer base even further, by expanding more into the medium business segment. In order to keep its revenue engine humming, Comcast is “aggressively building out of Ethernet and fiber-optic services.”
Neil Smit, president, and CEO of Comcast Cable says “the opportunity in the enterprise is we believe it is a $13 to $15 billion opportunity in our market. We see strong growth across small, medium, and large-businesses.”
Comcast reported revenue growth in 2016 with an increase of 9.2%, to $21 billion. Currently, Comcast only has a 15% share of the medium-sized business segment. With a growing appetite, Comcast landed a service deal with a large financial company that allows them to penetrate other target markets that include the following:
- Financial services
With the expansion of their service into approximately 5,000 new locations, Comcast also has big plans for a simultaneous geographic expansion into major U.S. cities that include Philadelphia, Boston, and Atlanta.
In these respective geographic markets, Comcast will be tiptoeing against the other telecom giants. To win over the customer base from these competitors, Comcast also plans to offer a whole suite of Cloud based services as well.
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