Investors Business Daily writes a succinct account of Comcast Interactive Media's prospects here. Highlights:
"Comcast has spent more than $600 million over three years making acquisitions to build up its Internet properties. It bought online movie ticketer Fandango; Daily Candy, a fashion and lifestyle e-mail newsletter; social networking firm Plaxo; and thePlatform, which manages online video for companies.
"Besides online ads, CIM aims to create new revenue streams from Comcast subscribers, such as online gaming, and is focused on generating sales from outside Comcast's cable markets.
"Fandango sells movie tickets across the U.S. Ad-supported Fancast, a rival of Hulu.com, aims at being a top destination for TV shows and movies nationally, and could become a big seller of online video vs. the likes of Amazon.com and Netflix... Comcast's 'Project Infinity' aims to build a huge library of movies and TV shows" for video-on-demand.
"Comcast's OnDemand Online trial... lets pay-TV subscribers watch some cable programming at its Fancast and Comcast.net sites. Comcast says its subscribers will be able to download cable programs to wireless devices as well." Says Amy Banse, ex-Comcast programming chief who bosses 800 CIM employees, "If you buy a package of content from Comcast, you should be able to consume it at any time, on any device."
"Fancast.com lags Hulu -- a joint venture of NBC Universal, News Corp. and Walt Disney" in viewers and online ads. But Comcast cfo Michael Angelakis "says Comcast will more aggressively promote Fancast starting in the fall, as it lines up more and better content."
Why's a CFO commenting in a business-line story? A past Comcast executive tells me Angelakis' involvement has brought discipline to a chaotic online process. "Basically their strategy has been to throw money at a wall. He's asking questions. It's a good thing."
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