Comcast (CMCSA) risk factors, FY2025 10-K

Risks Related to Our Business, Industry and Operations

1. 01Our businesses operate in highly competitive and dynamic industries, and our businesses and results of operations could be adversely affected if we do not compete effectively
2. 02Changes in consumer behavior continue to adversely affect our businesses and challenge existing business models85% rewritten
3. 03A decline in advertisers’ expenditures or changes in advertising markets could negatively impact our businesses
4. 04Our success depends on consumer acceptance of our content, and our businesses may be adversely affected if our content fails to achieve sufficient consumer acceptance79% rewritten
5. 05Comcast 2025 Annual Report on Form 10-K100% rewritten
6. 06Programming expenses for our video services are increasing on a per subscriber basis, which could adversely affect our video businesses
7. 07The loss of programming distribution agreements, or the renewal of these agreements on less favorable terms, could adversely affect our businesses35% rewritten
8. 08Our businesses depend on using and protecting certain intellectual property rights and on not infringing, misappropriating or otherwise violating the intellectual property rights of others
9. 09We may be unable to obtain necessary hardware, software and operational support
10. 10Our businesses depend on keeping pace with technological developments
11. 11A cyber attack, information or security breach, or technology disruption or failure may negatively impact our ability to conduct our business or result in the misuse of confidential information, all of which could adversely affect our business, reputation or results of operations
12. 12Weak economic conditions may have a negative impact on our businesses
13. 13Acquisitions and other strategic initiatives present many risks, and we may not realize the financial and strategic goals that we had contemplated
14. 14We face risks relating to doing business internationally that could adversely affect our businesses
15. 15Natural disasters, severe weather and other uncontrollable events could adversely affect our business, reputation and results of operations
16. 16The loss of key management personnel or popular on-air and creative talent could have an adverse effect on our businesses
17. 17Labor disputes, whether involving employees or sports organizations, may disrupt our operations and adversely affect our businesses
18. 18If the Separation does not qualify as non-taxable, we and/or holders of our common stock could be subject to significant tax liabilityNew

Risks Related to Legal, Regulatory and Governance Matters

1. 19We are subject to regulation by federal, state, local and foreign authorities, which impose additional costs and restrictions on our businesses
2. 20Our businesses are subject to various federal, state, local and foreign laws and regulations. In the United States in particular, the Communications Act and FCC regulations and policies affect significant aspects of our communications businesses
3. 21Unfavorable litigation or governmental investigation results could require us to pay significant amounts or lead to onerous operating procedures70% rewritten
4. 22Our Class B common stock has substantial voting rights and separate approval rights over several potentially material transactions, and our Chairman and Co-CEO has considerable influence over our company through his beneficial ownership of our Class B common stock