Comcast (Nasdaq: CMCSA) and Verizon Wireless (NYSE: VZ) engineers are developing new products that will take advantage of Comcast's digital cable platform and the Verizon Wireless network, Comcast CFO Michael Angelakis said at a Wells Fargo conference Wednesday.
Angelakis (Image source: Comcast)
"I don't think you'll see any announcements. I think you'll see us go out and try to execute," Angelakis said, suggesting that the MSO won't make efforts to publicize the new products coming out of a joint innovation lab Verizon and Comcast have created.
Last year, Comcast, Time Warner Cable (NYSE: TWC) and Bright House Networks agreed to sell Advanced Wireless Services spectrum to Verizon Wireless for $3.6 billion. As part of that deal, the cable MSOs and Verizon agreed to cross promote service and create a technology lab joint venture focused on developing advanced services for cable and wireless phone customers.
Comcast and other cable MSOs have already kicked off joint promotions with Verizon Wireless in dozens of markets where subscribers that order new cable and Verizon Wireless services can receive debit cards. "We have high hopes that we will begin to sell more and more of their services, and they will begin to sell more and more of ours," Angelakis said.
Angelakis said that reviews of the Verizon-cable deals by the Department of Justice and the FCC hampered the ability to develop new products through their innovation lab. But since the deals were approved, the companies have stepped up both their marketing and engineering efforts, Angelakis said.
Comcast now employs about 1,000 software engineers, Angalakis said. Some of those engineers have been meeting with Verizon teams on the West coast to develop new products, he added.
One product that Comcast and Verizon Wireless have not publicized is the AnyPlay set-top which allows Comcast subscribers to stream live video to mobile devices within their own home. According to the websites of Comcast and Verizon Wireless, AnyPlay is now available in 31 markets where the companies are running joint promotions.
"I think it's early, but it's another testament that we have a terrific broadband platform. To be fair to them, they have a terrific wireless platform. Really the idea is how do you take those two businesses or platforms, and try to find some integration that makes sense for the consumer. That's really the secret sauce," Angelakis said.
Trademark filings may offer some clues about the products Comcast and Verizon Wireless are developing. Last month, Comcast filed a trademark application for the brand DOWNLOAD2GO, which the MSO said could be used to market a mobile video service and software for downloading video to smartphones and tablet computers.
In May, Verizon Wireless filed a trademark application for the brand ALLSCREEN, which it said could be used for "DVR sideloading," and "providing cable transmission services and wireless communication services."
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