Comcast chairman and co-CEO Brian Roberts raked in $35.15 million in total compensation for 2025, a 3.8% increase from $33.9 million in 2024.
The package included a $2.6 million base salary, $23.5 million in stock awards, $8.6 million in non-equity incentive plan compensation and $491,200 in “other” compensation, which included a $10,000 contribution to his retirement investment plan account, $190,734 for personal use of the company-provided aircraft and $290,466 for personal security.
In comparison, the median Comcast employee’s total compensation for 2025 was $92,390, putting Roberts’ pay ratio at 381 to 1.
Meanwhile, Comcast’s Mike Cavanagh, who served as president and was promoted to the role of co-CEO alongside Roberts in January, saw his pay climb 154% to $71.8 million, compared to $28.3 million in 2024.
The package included a $2.6 million base salary, $60.3 million in stock awards, $8.6 million in non-equity incentive plan compensation and $231,392 in “other” compensation, which included a $10,000 contribution to his retirement investment plan account and $221,392 for personal use of the company-provided aircraft.
In connection with his promotion to co-CEO, Cavanagh received a performance stock unit (PSU) grant with a target value of approximately $35 million. The award, which is designed to recognize his “strong leadership and further incentivize and align his compensation with rigorous performance targets to drive long-term shareholder value creation,” is based on the fair value price on the grant date, so they may end up being worth less, more or the same as reported.
The pay disclosure for 2025 comes as Comcast spun off its cable network portfolio into the separate, publicly-traded company Versant in January. Those include USA Network, CNBC, MS NOW, Oxygen, E!, SYFY and Golf Channel, as well as digital assets Fandango, Rotten Tomatoes, GolfNow and SportsEngine.
In its first earnings report post-Versant spin earlier this week, Comcast saw revenue increase 5.3% to $31.5 billion as net profit tumbled 35.6% to $2.2 billion, or 60 cents per share. On an adjusted basis, net income fell 30.7% to $2.9 billion, or 79 cents per share.
Executives said that Peacock is on track to “approach profitability” next quarter after the streaming service’s losses widened to $432 million due to the double-edged sword of its expensive sports rights.
It added 2 million subscribers for a total of 46 million and surpassed $2 billion in revenue for the first time, boosted by the Super Bowl, the Milan Cortina Olympics and the NBA. Executives said that the first quarter was “peak volume” for its NBA contract with about 50% of the games played and represents “peak EBITDA dilution.”
“The prospect for ongoing and durable profitability for Peacock is what we have our sight set on. That, combined with really putting it together with the linear media business in NBC, is how we’re going to manage the media business going forward.” Cavanagh said during Comcast’s earnings call. “We have a very elegantly designed media business where we’ve gotten it focused to three parts – Parks, Studios, and Media – that are going to work together for years to come. We’re going to be focused on driving value and putting capital to work against the opportunities that we have there.”
In addition to the Versant spinoff, management touted the opening of its new Orlando theme park, Epic Universe, and the theatrical success of its “Wicked” and “Jurassic” franchises. It also said it generated the highest free cash flow in company history in 2025 and returned nearly $12 billion to shareholders.
