Comcast has set up a new business services division to sell broadband, Wi-Fi, ethernet and other services to large companies in the Fortune 1000 list, hoping to attract new revenue, the U.S. cable and Internet provider said on Wednesday.
The new "Enterprise Services" unit will be under the company's Comcast Business division, which currently offers services to small-to-medium businesses, Comcast said in a statement. Comcast Business is now targeting companies with large revenue figures and is taking on rivals in the business services market, such as wireless companies AT&T and Verizon Communications.
Unlike residential customers who may switch to satellite or telephone players, businesses typically sign long-term contracts, bringing in steady sales. Moreover, the push to grab more business clients reflects how cable companies are searching for new growth as their traditional business, selling TV services to residential clients, matures.
Over the last six to nine months, Comcast has signed up 25 to 30 customers with $45 million in contracts, Bill Stemper, president of Comcast Business, said in an interview.