Comcast's (CMCSA) mituTV Launch to Expand Latino Footprint
Comcast CMCSA recently unveiled its plan to introduce and distribute the mituTV streaming app across its range of entertainment platforms, including Xfinity X1 and Xfinity Flex, with upcoming availability on Xumo TV.
Launching on Sep 15, 2023, on X1 and Flex, and soon arriving on Xumo TV, the mituTV app will bring more than 120 hours of original Latino content and beloved series from innovative creators like Inland Entertainment Network, Digital Bodega and the Immigration Archive Project.
As part of the collaboration, MituTV introduces engaging original programming with Three G’s, a talk show where comedians Erik Rivera, Sasha Merci, and Jesus Sepulveda engage in humorous and relatable discussions about the Latino upbringing experience.
Girl, Let Me Tell You, a weekly show featuring Latinas Jessica Flores, Ivana Rojas, and Glorelys Mora, fearlessly tackles topics including familial expectations, the intricacies of relationships, career advancement, and redefining beauty standards.
Expanding Portfolio & Partner Base Aids Growth
Comcast’s shares have returned 30.5% compared with the Zacks Consumer Discretionary sector’s increase of 8% year to date. The outperformance can be attributed to a growing wireless subscriber base and improved content offerings.
Comcast Corporation Price and Consensus
Comcast Corporation price-consensus-chart | Comcast Corporation Quote
Comcast’s plan to transition to DOCSIS 4.0 is noteworthy. The technology will help expand much faster and at a lower cost than competitors.
Moreover, Comcast’s expanding ad business is aiding top-line growth.
In July, a partnership was unveiled between Comcast's FreeWheel division and Roku ROKU, signaling the forthcoming launch of innovative technological offerings designed to streamline, optimize, and elevate the experience of TV streaming.
This collaboration involves Roku integrating its demand application programming interface (API) with FreeWheel's TV platform for streamlined ad operations, improved inventory quality, and increased publisher revenue. It enables data-driven audience targeting without cookies and utilizes data clean room technology for enhanced measurement and monetization.
FreeWheel will also use Roku's Watermark solution to combat fraud in TV streaming, ensuring ads reach real viewers and preventing spoofing of ad measurement signals.
Comcast plans to invest $4.5 million in expanding the high-speed Xfinity 10G network to rural communities of Planada in Merced County, CA. This expansion benefits Comcast by reaching underserved areas, improving connectivity, and enhancing opportunities for residents while contributing to the company's growth and influence.
Moreover, Comcast’s theme park business is on a robust path to recovery, driven by increasing admission rates and the introduction of exciting attractions like Super Nintendo World in Japan, the Velocicoaster in Orlando, and Secret Life of Pets in Hollywood.
Anticipated future openings, including Super Nintendo World in Hollywood, Donkey Kong in Japan by 2024, and the eagerly awaited launch of Epic Universe in 2025, are set to accelerate this growth further.
For the third quarter of 2023, CMCSA estimates revenues between $29.33 billion and $30.28 billion. The Zacks Consensus Estimate is pegged at $29.69 billion, suggesting a drop of 0.52% year over year.
Zacks Rank & Stocks to Consider
Currently, CMCSA has a Zacks Rank #3 (Hold).
Perdoceo Education PRDO and American Woodmark AMWD are a couple of better-ranked stocks that investors can consider in the broader sector. Both stocks sport Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of PRDO and AMWD have returned 17.6% and 51.7%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Perdoceo Education and American Woodmark are pegged at 15% and 13%, respectively.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Comcast Corporation (CMCSA) : Free Stock Analysis Report
American Woodmark Corporation (AMWD) : Free Stock Analysis Report
Roku, Inc. (ROKU) : Free Stock Analysis Report
Perdoceo Education Corporation (PRDO) : Free Stock Analysis Report
