COMCAST CORP
For the period ended Oct 22, 2026. Filed Oct 22, 2026.
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Oct 22, 2026 · Filed Oct 22, 2026
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Contents
EX-99.1 · Studios
Studios
| ($ in millions) | ||||
|---|---|---|---|---|
| 3rd Quarter | ||||
| 2026 | 20256 | Change | ||
| Revenue | ||||
| Content Licensing | $1,553 | $2,035 | (23.7%) | |
| Theatrical | 1,129 | 639 | 76.6% | |
| Other | 285 | 326 | (12.7%) | |
| Total Revenue | $2,967 | $3,000 | (1.1%) | |
| Operating Expenses | 2,565 | 2,661 | (3.6%) | |
| Adjusted EBITDA | $402 | $339 | 18.6% | |
Revenue for Studios decreased primarily due to lower content licensing revenue, partially offset by higher theatrical revenue. Content licensing revenue decreased primarily due to the timing of when content was made available by our television studios. Theatrical revenue increased primarily due to the successful performance of recent releases, including The Odysseyand Minions & Monsters, as well as the carryover benefit of Obsession.
Adjusted EBITDA for Studios increased due to lower operating expenses, which more than offset lower revenue. The decrease in operating expenses was primarily driven by lower programming and production expenses, mainly due to lower content licensing sales at our television studios, partially offset by higher film costs, as well as lower marketing and promotion expenses due to the timing of spending on recent and upcoming theatrical film releases.
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