Comcast Chairman and CEO Brian Roberts saw his salary increase 11 percent in 2023, bringing home $35.5 million in combined cash and stock options, according to a document filed with financial regulators this week.
In a proxy statement sent to shareholders and filed with the U.S. Securities and Exchange Commission on Friday, Comcast said Roberts earned a base salary of $2.5 million, with the rest of his compensation based on stock awards and options, along with $8.6 million in inactive plan compensation.
By comparison, Roberts earned $32.1 million in 2022 and $34 million in 2021.
In January, Comcast said it earned $121.57 billion in overall revenue during 2023, up just 0.1 percent from the $121.43 billion the company brought in the prior year.
Like other pay television providers, Comcast has experienced an erosion of its core pay television product, Xfinity TV, as consumers shift toward cheaper streaming options. The trend of “cord-cutting” along with programming investments in Peacock have helped generate strong interest in the streaming service, with Peacock growing to serve 31 million customers by the end of last year.
Curiously, Comcast and some of its peers have also experienced a decline in broadband subscribers as fixed wireless solutions like T-Mobile Home Internet and Verizon Home Internet chip away at their lead. Comcast lost 34,000 Xfinity Internet subscribers during the fourth quarter of 2023, ending the year with just north of 32.25 million customers, the company said.
Still, Comcast is making bank off the back of its remaining customers, with the company reporting domestic broadband average revenue per customer, or ARPU, increasing 4.2 percent during 2023.
