Summer is coming, but streamers want you to bundle up.
It has long not been an original thought to say that streaming is starting to look more and more like cable, but the industry has been taking new steps to ensure the comparison doesn’t die. On Tuesday, Comcast chief Brian L. Roberts revealed a coming bundle between NBCUniversal’s Peacock, Apple’s Apple TV+, and Netflix’s, well, Netflix. We did not get a price point or a launch date, but we do have a name: StreamSaver. Roberts promised significant savings, hence the name.
If the StreamSaver announcement sounds familiar, it’s probably because that is the precise promise of an also newly announced Summer 2024 Disney bundle between Disney+, Hulu, and Max. Disney has long-experienced the strength of a bundle with two options for consumers to combine its in-house streaming services: the duo is Disney+ and Hulu, the trio adds ESPN+.
It has long not been an original thought to say that streaming is starting to look more and more like cable, but the industry has been taking new steps to ensure the comparison doesn’t die. On Tuesday, Comcast chief Brian L. Roberts revealed a coming bundle between NBCUniversal’s Peacock, Apple’s Apple TV+, and Netflix’s, well, Netflix. We did not get a price point or a launch date, but we do have a name: StreamSaver. Roberts promised significant savings, hence the name.
If the StreamSaver announcement sounds familiar, it’s probably because that is the precise promise of an also newly announced Summer 2024 Disney bundle between Disney+, Hulu, and Max. Disney has long-experienced the strength of a bundle with two options for consumers to combine its in-house streaming services: the duo is Disney+ and Hulu, the trio adds ESPN+.
- 5/16/2024
- by Tony Maglio
- Indiewire
Comcast notched a small first-quarter profit despite continued erosion in its core cable operations and a lack of new spending from advertisers at its NBCUniversal operations.
The Philadelphia owner of NBC, USA and the Peacock streaming service said profit rose just 0.6% during the period, to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share in the year-earlier quarter. Revenue rose 1.2% to $30.06 billion.
The company’s performance trumped Wall Street expectations. “Our team is continuing to execute exceptionally well in a dynamic and competitive marketplace,” said Brian L. Roberts, chairman and CEO of Comcast, in a statement.
The company lost 65,000 broadband customers during the quarter, but was able to harness increased rates to win a small gain in revenue in its key video operations. Comcast said it added 289,000 wireless lines, but saw its overall U.S. video customer base decline by 487,000.
The company’s overall content operations secured a 1.1% gain in revenue,...
The Philadelphia owner of NBC, USA and the Peacock streaming service said profit rose just 0.6% during the period, to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share in the year-earlier quarter. Revenue rose 1.2% to $30.06 billion.
The company’s performance trumped Wall Street expectations. “Our team is continuing to execute exceptionally well in a dynamic and competitive marketplace,” said Brian L. Roberts, chairman and CEO of Comcast, in a statement.
The company lost 65,000 broadband customers during the quarter, but was able to harness increased rates to win a small gain in revenue in its key video operations. Comcast said it added 289,000 wireless lines, but saw its overall U.S. video customer base decline by 487,000.
The company’s overall content operations secured a 1.1% gain in revenue,...
- 4/25/2024
- by Brian Steinberg
- Variety Film + TV
Peacock added 3 million subscribers in the quarter of its exclusive NFL playoff game, Comcast revealed Thursday as part of its earnings announcement. It now has 34 million subs, up from 31 million at the end of 2023.
Still, Peacock lost $639 million in the quarter. At least that wasn’t as bad as the last one!
Peacock lost $825 million over the final three months of 2023. It lost $704 million in the first quarter of 2023 — so the current loss is technically an improvement from the comparable quarters. It certainly helps when revenue grows, as Peacock’s did, to $1.1 billion in the first quarter of the current year.
Universal Pictures in the first quarter released “Argylle” and “Kung Fu Panda 4” in theaters. The latest in the Jack Black karate-bear movie series has done great: it made $481 million worldwide. “Argylle” didn’t even make $100 million. “Migration” was released at the end of 2023, so a chunk of its...
Still, Peacock lost $639 million in the quarter. At least that wasn’t as bad as the last one!
Peacock lost $825 million over the final three months of 2023. It lost $704 million in the first quarter of 2023 — so the current loss is technically an improvement from the comparable quarters. It certainly helps when revenue grows, as Peacock’s did, to $1.1 billion in the first quarter of the current year.
Universal Pictures in the first quarter released “Argylle” and “Kung Fu Panda 4” in theaters. The latest in the Jack Black karate-bear movie series has done great: it made $481 million worldwide. “Argylle” didn’t even make $100 million. “Migration” was released at the end of 2023, so a chunk of its...
- 4/25/2024
- by Tony Maglio
- Indiewire
Everyone grumbled about the NFL exclusively streaming a Wildcard-round playoff game on NBCUniversal’s Peacock, but then a whole lot of the complainers signed up for the service anyway, according to new data.
With 2.8 million Peacock signups over a 72-hour period, the Miami Dolphins vs. Kansas City Chiefs game was the impetus for the biggest subscriber-acquisition moment ever observed by streaming-measurement company Antenna, which has been in business since 2019. The term “moment” is important here, as it refers to a three-day span. The largest-ever single day for streaming signups remains for Disney+ (2.5 million signups) on its launch day in 2019.
The Peacock signups number includes first-time users testing the service out on a 7-day trial. It is too early still to know how many people churned out of (canceled) Peacock after the trial, or after one paid month.
When reached, a spokesperson for Peacock had no comment on the Antenna numbers.
With 2.8 million Peacock signups over a 72-hour period, the Miami Dolphins vs. Kansas City Chiefs game was the impetus for the biggest subscriber-acquisition moment ever observed by streaming-measurement company Antenna, which has been in business since 2019. The term “moment” is important here, as it refers to a three-day span. The largest-ever single day for streaming signups remains for Disney+ (2.5 million signups) on its launch day in 2019.
The Peacock signups number includes first-time users testing the service out on a 7-day trial. It is too early still to know how many people churned out of (canceled) Peacock after the trial, or after one paid month.
When reached, a spokesperson for Peacock had no comment on the Antenna numbers.
- 1/24/2024
- by Tony Maglio
- Indiewire
Like clockwork, another year has come and gone. The events of these past 12 months were anything but predictable, but we tried anyway — and we did Ok!
It’s time for IndieWire’s business team to dust off our crystal balls, put on our writing glasses, and go for broke in 2024. Below are our nine industry predictions for the new year, in varying degrees of boldness. Feel free to tell us where we’re wrong!
Bundle Up!
We’ll see unprecedented streaming consolidation in 2024 — the kind that does not require regulatory approval. Next year will instead be the year of the streaming bundle.
This is, admittedly, a bit of a layup of a prediction considering Verizon already planted its flag earlier this month with a $10 Netflix and Max bundle. Apple TV+ and Paramount+ reportedly flirted with a similar idea, though they ultimately didn’t consummate.
What comes next? More pairs of twos and threes,...
It’s time for IndieWire’s business team to dust off our crystal balls, put on our writing glasses, and go for broke in 2024. Below are our nine industry predictions for the new year, in varying degrees of boldness. Feel free to tell us where we’re wrong!
Bundle Up!
We’ll see unprecedented streaming consolidation in 2024 — the kind that does not require regulatory approval. Next year will instead be the year of the streaming bundle.
This is, admittedly, a bit of a layup of a prediction considering Verizon already planted its flag earlier this month with a $10 Netflix and Max bundle. Apple TV+ and Paramount+ reportedly flirted with a similar idea, though they ultimately didn’t consummate.
What comes next? More pairs of twos and threes,...
- 12/23/2023
- by Tony Maglio and Brian Welk
- Indiewire
Peacock lost $565 million from June to September — a financial improvement over prior quarters — while adding 4 million subscribers. The NBCUniversal streaming service ended September 2023 with 28 million subs.
The vast majority of Peacock users subscribe to its cheaper, ad-supported tier ($5.99 per month vs. $11.99 ad-free). Like so many major streamers did throughout 2023, Peacock raised rates in July. Peacock posted $830 million in revenue in the third quarter.
Previously, Peacock lost $651 million from April to June and $704 million from January to March. Parent company Comcast expects it will post $2.8 billion in streaming losses this year; some rough math means Peacock will likely lose about $880 million in the fourth quarter, when pricey sports rights and other content costs are realized.
Comcast bested the quarter’s top- and bottom-line expectations. Wall Street forecast Comcast’s Q3 earnings at 95 cents per share on $29.71 billion in revenue, according to a consensus compiled on Yahoo Finance. Comcast posted adjusted earnings...
The vast majority of Peacock users subscribe to its cheaper, ad-supported tier ($5.99 per month vs. $11.99 ad-free). Like so many major streamers did throughout 2023, Peacock raised rates in July. Peacock posted $830 million in revenue in the third quarter.
Previously, Peacock lost $651 million from April to June and $704 million from January to March. Parent company Comcast expects it will post $2.8 billion in streaming losses this year; some rough math means Peacock will likely lose about $880 million in the fourth quarter, when pricey sports rights and other content costs are realized.
Comcast bested the quarter’s top- and bottom-line expectations. Wall Street forecast Comcast’s Q3 earnings at 95 cents per share on $29.71 billion in revenue, according to a consensus compiled on Yahoo Finance. Comcast posted adjusted earnings...
- 10/26/2023
- by Tony Maglio
- Indiewire
Comcast and Disney have agreed to move up the date that seals Hulu’s fate. They have most definitely not agreed on price.
On September 30, Comcast can force Disney to buy out its one-third stake in Hulu; the put/call was previously slated for January 2024. Disney owns two-thirds of Hulu; it acquired Fox’s stake six years ago, along with most of the company’s other assets.
On Wednesday, Comcast chief Brian L. Roberts said he and Disney’s Bob Iger signed off on the amended timeline last week. “It will take a little time for this to play out. But both companies wanted to get it behind us, so we pulled the date forward,” Roberts said at the Goldman Sachs Communacopia + Technology conference.
Steven Cahall, a lead equity analyst at the bank Wells Fargo, agrees. “A consummation of the deal is constructive to both buyer and seller,” he wrote...
On September 30, Comcast can force Disney to buy out its one-third stake in Hulu; the put/call was previously slated for January 2024. Disney owns two-thirds of Hulu; it acquired Fox’s stake six years ago, along with most of the company’s other assets.
On Wednesday, Comcast chief Brian L. Roberts said he and Disney’s Bob Iger signed off on the amended timeline last week. “It will take a little time for this to play out. But both companies wanted to get it behind us, so we pulled the date forward,” Roberts said at the Goldman Sachs Communacopia + Technology conference.
Steven Cahall, a lead equity analyst at the bank Wells Fargo, agrees. “A consummation of the deal is constructive to both buyer and seller,” he wrote...
- 9/6/2023
- by Tony Maglio
- Indiewire
Comcast has moved the date it can sell its one-third share of Hulu from January of 2024 to Sept. 30, 2023. As in, this month.
According to Comcast CEO Brian L. Roberts, the date was brought forward “last week” and a modification has been signed to the company’s current agreement. “So as of Sept. 30, after some short period of time, Disney can call,” Roberts said during the Goldman Sachs Communacopia and Technology Conference.
Roberts estimated that period of time would take roughly 30 days. “It will take a little time for this to play out. But both companies wanted to get it behind us, so we pulled the date forward,” Roberts said.
The CEO also revealed that Comcast’s current plan is to use the returns from this sale to give back to shareholders, pay taxes and invest in meta bond financing. A portion of this is expected to be accomplished in 2023.
Disney,...
According to Comcast CEO Brian L. Roberts, the date was brought forward “last week” and a modification has been signed to the company’s current agreement. “So as of Sept. 30, after some short period of time, Disney can call,” Roberts said during the Goldman Sachs Communacopia and Technology Conference.
Roberts estimated that period of time would take roughly 30 days. “It will take a little time for this to play out. But both companies wanted to get it behind us, so we pulled the date forward,” Roberts said.
The CEO also revealed that Comcast’s current plan is to use the returns from this sale to give back to shareholders, pay taxes and invest in meta bond financing. A portion of this is expected to be accomplished in 2023.
Disney,...
- 9/6/2023
- by Kayla Cobb
- The Wrap
Brian L. Roberts, the CEO of Comcast, isn’t”completely surprised” by the ongoing cable dispute between Charter Communications and Disney. The executive addressed the ongoing story at the top of his session at the Goldman Sachs Communacopia and Technology Conference.
“At some level, I guess I’m not completely surprised,” Roberts said on Wednesday. “When you have many distributors of the same product and in a geography, you’re going to have disputes between the content and distribution. It’s not the first dispute, and [it] probably won’t be the last dispute.”
Over Labor Day weekend, nearly 15 million cable subscribers lost access to ESPN, ABC and other Disney-owned channels as a result of Disney and Charter Communications failing to renew their distribution deal. This mass pulling of channels happened ahead of the first weekend for college football and during the U.S. Open, two major events for live TV.
“At some level, I guess I’m not completely surprised,” Roberts said on Wednesday. “When you have many distributors of the same product and in a geography, you’re going to have disputes between the content and distribution. It’s not the first dispute, and [it] probably won’t be the last dispute.”
Over Labor Day weekend, nearly 15 million cable subscribers lost access to ESPN, ABC and other Disney-owned channels as a result of Disney and Charter Communications failing to renew their distribution deal. This mass pulling of channels happened ahead of the first weekend for college football and during the U.S. Open, two major events for live TV.
- 9/6/2023
- by Kayla Cobb
- The Wrap
Peacock finished the June quarter with 24 million subscribers, up from 22 million at the end of March — but the streamer lost $651 million over the same three months.
Sadly, those losses have pretty much become par for the course. The NBCUniversal streaming platform lost $704 million in the prior quarter (and $467 million in Q2 2022). The company expects to post “peak” losses from streaming — to the tune of $3 billion — in 2023. Good thing Comcast is soon to come into about $9 billion in streaming bucks through the sale of its Hulu stake to Disney.
Peacock revenue rose 85 percent year to year, mostly thanks to advertising, as the vast majority of subs are on the service’s “Premium” tier. Until recently (and since its June 2020 launch), the ad-supported option cost $4.99 per month; following a July price hike it’s now $5.99. Commercial-free “Premium Plus” increased from $9.99/month to $11.99/month.
NBCU parent company Comcast did top Wall Street’s...
Sadly, those losses have pretty much become par for the course. The NBCUniversal streaming platform lost $704 million in the prior quarter (and $467 million in Q2 2022). The company expects to post “peak” losses from streaming — to the tune of $3 billion — in 2023. Good thing Comcast is soon to come into about $9 billion in streaming bucks through the sale of its Hulu stake to Disney.
Peacock revenue rose 85 percent year to year, mostly thanks to advertising, as the vast majority of subs are on the service’s “Premium” tier. Until recently (and since its June 2020 launch), the ad-supported option cost $4.99 per month; following a July price hike it’s now $5.99. Commercial-free “Premium Plus” increased from $9.99/month to $11.99/month.
NBCU parent company Comcast did top Wall Street’s...
- 7/27/2023
- by Tony Maglio
- Indiewire
The real life inspirations for powerful oligarch Logan Roy and his dysfunctional family on Succession are well-documented. Roy and his right wing media empire Waystar Royco are very clearly based on Australian billionaire Rupert Murdoch and his News Corp imprint. Neither HBO nor Succession creator Jesse Armstrong made much of an effort to hide that early on.
In fact, the seed for the idea that would eventually bloom into the beloved four-season drama began when Armstrong sought to tell the real life story of the Murdoch family’s malevolent influence on the world. In the book Succession: The Complete Scripts, Armstrong fleshes out what that story would have been like.
“The original idea, a faux-documentary laying out Rupert Murdoch’s business secrets, with them delivered straight to camera, evolved as I worked into a sort of TV play, set at the media owner’s 80th birthday party. Channel 4 were supportive,...
In fact, the seed for the idea that would eventually bloom into the beloved four-season drama began when Armstrong sought to tell the real life story of the Murdoch family’s malevolent influence on the world. In the book Succession: The Complete Scripts, Armstrong fleshes out what that story would have been like.
“The original idea, a faux-documentary laying out Rupert Murdoch’s business secrets, with them delivered straight to camera, evolved as I worked into a sort of TV play, set at the media owner’s 80th birthday party. Channel 4 were supportive,...
- 6/1/2023
- by Alec Bojalad
- Den of Geek
Disney’s chief executive officer Bob Iger has said his recent talks with Comcast CEO Brian L. Roberts over their shared streaming service, Hulu, have been congenial. However, the Wall Street Journal reported Thursday that was not always the case.
The years-long Hulu tug o’ war between the two companies includes a gigantic valuation gap, calculated — and secretive — maneuvering, and outright fury from both sides. Below are the seven juiciest details from the report.
IndieWire has reached out to both Disney and Comcast for comment on the WSJ story. We did not immediately receive a response from either side.
It’s Not a Valuation Gap, It’s a Canyon
Unsurprisingly, Comcast, which is likely to sell its one-third ownership stake in Hulu to Disney in early 2024, has a much more generous valuation in mind than its would-be buyer, Disney. However, the chasm between their respective internal valuations is wider than many probably thought.
The years-long Hulu tug o’ war between the two companies includes a gigantic valuation gap, calculated — and secretive — maneuvering, and outright fury from both sides. Below are the seven juiciest details from the report.
IndieWire has reached out to both Disney and Comcast for comment on the WSJ story. We did not immediately receive a response from either side.
It’s Not a Valuation Gap, It’s a Canyon
Unsurprisingly, Comcast, which is likely to sell its one-third ownership stake in Hulu to Disney in early 2024, has a much more generous valuation in mind than its would-be buyer, Disney. However, the chasm between their respective internal valuations is wider than many probably thought.
- 5/25/2023
- by Brian Welk and Tony Maglio
- Indiewire
Jeff Shell is stepping down as CEO of NBCUniversal following an internal investigation for what has been described as an “inappropriate relationship” with an employee. The “mutual” decision was announced by NBCUniversal’s parent company Comcast on Sunday afternoon.
“Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret,” Shell said in a statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 10 years has been a privilege.”
Shell had served as CEO since January 1, 2020. His tenure notably resulted in a deal that brought all of the company’s new film releases, including titles from Illumination and Focus Features, to Peacock following their theatrical releases. Comcast president Michael Cavanagh will take over as interim CEO of the entertainment company.
“Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret,” Shell said in a statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 10 years has been a privilege.”
Shell had served as CEO since January 1, 2020. His tenure notably resulted in a deal that brought all of the company’s new film releases, including titles from Illumination and Focus Features, to Peacock following their theatrical releases. Comcast president Michael Cavanagh will take over as interim CEO of the entertainment company.
- 4/23/2023
- by Christian Zilko
- Indiewire
NBCUniversal CEO Jeff Shell is departing the company following an investigation into misconduct involving an “inappropriate relationship.”
Parent company Comcast and Shell jointly announced the news Sunday in a statement that noted the two have mutually agreed on the decision. He’ll depart effective immediately.
“I had an inappropriate relationship with a woman in the company, which I deeply regret,” Shell said in his own statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”
The media and entertainment executive has helmed the company since taking over as CEO on Jan. 1, 2020, reporting directly to Comcast CEO Brian L. Roberts. Shell was first announced as the successor to NBCUniversal’s previous CEO, Steve Burke, in December 2019. In a memo to staff Sunday, Roberts wrote that...
Parent company Comcast and Shell jointly announced the news Sunday in a statement that noted the two have mutually agreed on the decision. He’ll depart effective immediately.
“I had an inappropriate relationship with a woman in the company, which I deeply regret,” Shell said in his own statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”
The media and entertainment executive has helmed the company since taking over as CEO on Jan. 1, 2020, reporting directly to Comcast CEO Brian L. Roberts. Shell was first announced as the successor to NBCUniversal’s previous CEO, Steve Burke, in December 2019. In a memo to staff Sunday, Roberts wrote that...
- 4/23/2023
- by Abbey White, Pamela McClintock and Alex Weprin
- The Hollywood Reporter - Movie News
Jeff Shell is stepping down as CEO of NBCUniversal following a misconduct investigation, which found he had an “inappropriate relationship” with a woman in the company.
Comcast, the parent company of NBCUniversal, and Shell announced the news in a joint statement, saying they have mutually agreed that Shell will depart effective immediately following a third-party investigation into a complaint of inappropriate conduct.
“Today is my last day as CEO of NBCUniversal,” Shell wrote in a memo to staff. “I had an inappropriate relationship with a woman in the company, which I deeply regret. I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”
A successor to Shell has not been named. Shell’s senior team will now report directly to Mike Cavanagh, president of Comcast Corporation.
Comcast, the parent company of NBCUniversal, and Shell announced the news in a joint statement, saying they have mutually agreed that Shell will depart effective immediately following a third-party investigation into a complaint of inappropriate conduct.
“Today is my last day as CEO of NBCUniversal,” Shell wrote in a memo to staff. “I had an inappropriate relationship with a woman in the company, which I deeply regret. I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”
A successor to Shell has not been named. Shell’s senior team will now report directly to Mike Cavanagh, president of Comcast Corporation.
- 4/23/2023
- by Rebecca Rubin
- Variety Film + TV
We now know, in great detail, what Bob Iger plans to do with Disney. What we don’t know is what in the world will Disney do with Hulu.
A fact: In January 2024, Comcast can trigger a sale of its one-third stake in Hulu, valued north of 9 billion, to Disney. Another possibility: Comcast CEO Brian L. Roberts buys out Hulu from Disney. And yet another: Disney and Comcast seek Hulu buyers in an open auction. Last week, after his company reported fiscal Q1 2023 earnings, Iger again indicated he’s open to selling Hulu. “Everything is on the table right now,” he said.
Then there’s a fourth possibility: What if Disney traded its ESPN stake for Comcast’s Hulu stake? (Disney owns 80 percent of ESPN; Hearst owns the rest.) Hey, trades and sports go hand-in-hand.
The idea was first raised at last summer’s Allen & Company Sun Valley Conference, the...
A fact: In January 2024, Comcast can trigger a sale of its one-third stake in Hulu, valued north of 9 billion, to Disney. Another possibility: Comcast CEO Brian L. Roberts buys out Hulu from Disney. And yet another: Disney and Comcast seek Hulu buyers in an open auction. Last week, after his company reported fiscal Q1 2023 earnings, Iger again indicated he’s open to selling Hulu. “Everything is on the table right now,” he said.
Then there’s a fourth possibility: What if Disney traded its ESPN stake for Comcast’s Hulu stake? (Disney owns 80 percent of ESPN; Hearst owns the rest.) Hey, trades and sports go hand-in-hand.
The idea was first raised at last summer’s Allen & Company Sun Valley Conference, the...
- 2/14/2023
- by Tony Maglio and Brian Welk
- Indiewire
Peacock crossed 20 million paying subscribers in the U.S. in the final quarter of 2022, Comcast reported on Thursday morning, but the landmark number comes at a great cost.
For starters, there’s the 978 million loss in Q4’s adjusted Ebitda. Across all of 2022, Peacock absorbed a 2.5 billion loss.
Yikes, right? You ain’t seen nothin’ yet. On Comcast’s post-earnings conference call, company president Michael Kavanaugh said he Peacock losses to “peak” in 2023 at 3 billion. From there they’ll “steadily improve,” he said, as the NBCUniversal streaming services continues to inch toward breakeven, and hopefully, a profit.
The media analysts at Moffett Nathanson aren’t totally sold. “Peacock’s losses remain enormous, and its path to profitability is just as hard to see as always,” they wrote in a note to investors, on Thursday, questioning whether Peacock can “ever achieve winning scale or attractive long-term margins.” (The emphasis is theirs.
For starters, there’s the 978 million loss in Q4’s adjusted Ebitda. Across all of 2022, Peacock absorbed a 2.5 billion loss.
Yikes, right? You ain’t seen nothin’ yet. On Comcast’s post-earnings conference call, company president Michael Kavanaugh said he Peacock losses to “peak” in 2023 at 3 billion. From there they’ll “steadily improve,” he said, as the NBCUniversal streaming services continues to inch toward breakeven, and hopefully, a profit.
The media analysts at Moffett Nathanson aren’t totally sold. “Peacock’s losses remain enormous, and its path to profitability is just as hard to see as always,” they wrote in a note to investors, on Thursday, questioning whether Peacock can “ever achieve winning scale or attractive long-term margins.” (The emphasis is theirs.
- 1/26/2023
- by Tony Maglio
- Indiewire
Bob Iger has many things to address in his Disney return, including the inheritance of a 1.5 billion loss in direct-to-consumer business. However, he might want to focus more on the Disney streamer that actually turns a profit: Hulu.
Iger has long been a fan of the service; he’s the guy that bought Fox’s one-third as part of the studio’s mega-acquisition in early 2019, about a year before Bob Chapek succeeded Iger. One former Hulu insider told IndieWire that during his final months as CEO, Iger indicated the streaming service (a key part of the Disney Bundle alongside Disney+ and ESPN+) had his full support as a standalone entity. Experts we spoke to for this story do not see any reason for Iger’s opinion from early 2020 to have changed in late 2022.
“Hulu plays a key strategic role for Disney in being the home for adult-oriented content that doesn...
Iger has long been a fan of the service; he’s the guy that bought Fox’s one-third as part of the studio’s mega-acquisition in early 2019, about a year before Bob Chapek succeeded Iger. One former Hulu insider told IndieWire that during his final months as CEO, Iger indicated the streaming service (a key part of the Disney Bundle alongside Disney+ and ESPN+) had his full support as a standalone entity. Experts we spoke to for this story do not see any reason for Iger’s opinion from early 2020 to have changed in late 2022.
“Hulu plays a key strategic role for Disney in being the home for adult-oriented content that doesn...
- 11/23/2022
- by Brian Welk and Tony Maglio
- Indiewire
Peacock lost 614 million in the third quarter of 2022. That’s a giant number — even for Peacock — it’s just not as giant as parent-company Comcast’s 8.6 billion Sky write off.
Four years ago, Comcast outbid Fox to buy Sky for 39 billion. The deal is definitely not panning out.
In the third quarter of 2022, Comcast recorded “noncash impairment charges related to goodwill and intangible assets” in the Sky segment. An impairment charge is a write-off, and goodwill basically means the loss of an asset’s value. In simple terms, Sky has proven to be not nearly as valuable as Comcast once assumed.
Comcast blamed the impairments on “an increased discount rate and reduced estimate future cash flows.” Why? “Macroeconomic conditions in Sky’s territories,” Comcast’s army of accountants wrote. In other words, inflation and unflattering currency fluctuations couldn’t have come at a worse time for this particular investment.
“At Sky,...
Four years ago, Comcast outbid Fox to buy Sky for 39 billion. The deal is definitely not panning out.
In the third quarter of 2022, Comcast recorded “noncash impairment charges related to goodwill and intangible assets” in the Sky segment. An impairment charge is a write-off, and goodwill basically means the loss of an asset’s value. In simple terms, Sky has proven to be not nearly as valuable as Comcast once assumed.
Comcast blamed the impairments on “an increased discount rate and reduced estimate future cash flows.” Why? “Macroeconomic conditions in Sky’s territories,” Comcast’s army of accountants wrote. In other words, inflation and unflattering currency fluctuations couldn’t have come at a worse time for this particular investment.
“At Sky,...
- 10/27/2022
- by Tony Maglio
- Indiewire
Click here to read the full article.
Comcast said on Wednesday that it has promoted chief financial officer Mike Cavanagh to the added role of president.
“With this promotion, Mike will work closely with chairman and CEO Brian L. Roberts to manage the businesses and teams across the company,” it said. “Mike will be only the third president in the company’s 59-year history. He will remain chief financial officer.”
Said Roberts: “Today’s promotion will come as no surprise – Mike is admired and trusted by those who know and work with him. Mike has brought incredible operational and financial expertise to Comcast and is an integral part of our special company. He’s an outstanding partner, and together we are focused on continuing to create new and exciting opportunities for growth.”
Said Cavanagh: “It’s an honor to work with Brian to lead this great company. We...
Comcast said on Wednesday that it has promoted chief financial officer Mike Cavanagh to the added role of president.
“With this promotion, Mike will work closely with chairman and CEO Brian L. Roberts to manage the businesses and teams across the company,” it said. “Mike will be only the third president in the company’s 59-year history. He will remain chief financial officer.”
Said Roberts: “Today’s promotion will come as no surprise – Mike is admired and trusted by those who know and work with him. Mike has brought incredible operational and financial expertise to Comcast and is an integral part of our special company. He’s an outstanding partner, and together we are focused on continuing to create new and exciting opportunities for growth.”
Said Cavanagh: “It’s an honor to work with Brian to lead this great company. We...
- 10/12/2022
- by Georg Szalai
- The Hollywood Reporter - Movie News
Comcast is looking forward to 2024, a year in which it will gain: A) Hulu or B) a boatload of money, based on Hulu’s huge valuation. There’s also C): It could buy another significant media company, a purchase possibly financed in part by B. And let’s face it: NBCU needs one of those outcomes to compete in the streaming wars. With or without next-day NBC episodes, Peacock is no contender for the crown.
In January 2024, Comcast will likely sell its 33 percent ownership interest in Hulu to Disney. According to a deal the companies made in 2019, Hulu is valued at a guaranteed minimum of 27.5 billion. Disney’s two-thirds ownership share has a baseline value of 18 billion with NBCU’s third at 9 billion, but only Disney contractually has to buy its partner out.
At last week’s Goldman Sachs’ Communacopia event, Comcast CEO Brian L. Roberts pushed an alternate...
In January 2024, Comcast will likely sell its 33 percent ownership interest in Hulu to Disney. According to a deal the companies made in 2019, Hulu is valued at a guaranteed minimum of 27.5 billion. Disney’s two-thirds ownership share has a baseline value of 18 billion with NBCU’s third at 9 billion, but only Disney contractually has to buy its partner out.
At last week’s Goldman Sachs’ Communacopia event, Comcast CEO Brian L. Roberts pushed an alternate...
- 9/19/2022
- by Tony Maglio
- Indiewire
Disney chief Bob Chapek would “love” for his company to have full ownership of Hulu before January 2024 — the date that The Walt Disney Company can first buy out Comcast’s one-third share in the business. But there’s one issue.
“That obviously takes some level of propensity for [Comcast] to have reasonable terms for us to get there,” he added Wednesday during the Goldman Sachs’ Communcacopia 2022. “2024 is not that far away.”
(For good measure, Chapek then repeated “2024 is not that far away;” perhaps that has become a bit of a company mantra when it comes to Hulu.)
Currently, Disney owns two-thirds of Hulu to Comcast’s one-third. Disney added 33 percent to its preexisting share after buying most of Fox’s entertainment assets in 2019 for 71.3 billion. At the time, Comcast and Disney struck a deal: Disney took immediate operational control of Hulu and agreed that as early as 2024, Comcast could require Disney...
“That obviously takes some level of propensity for [Comcast] to have reasonable terms for us to get there,” he added Wednesday during the Goldman Sachs’ Communcacopia 2022. “2024 is not that far away.”
(For good measure, Chapek then repeated “2024 is not that far away;” perhaps that has become a bit of a company mantra when it comes to Hulu.)
Currently, Disney owns two-thirds of Hulu to Comcast’s one-third. Disney added 33 percent to its preexisting share after buying most of Fox’s entertainment assets in 2019 for 71.3 billion. At the time, Comcast and Disney struck a deal: Disney took immediate operational control of Hulu and agreed that as early as 2024, Comcast could require Disney...
- 9/14/2022
- by Tony Maglio
- Indiewire
Disney really is the happiest place on Earth this quarter, when the company’s core streaming service added more than 14 million subscribers from April to June 2022. Its key competition in the streaming wars, Netflix, went the other direction during the three-month period.
Netflix followed up its shocking Q1 loss of 200,000 paid global subscribers with a decline of 970,000 subscribers in the second quarter. Despite losing nearly five times as many global paid subscribers in the second quarter as it did in the first, Netflix’s Q2 results w reflected a net positive: Netflix forecast losing twice as many.
Subscriber counts from other major streaming services (courtesy of their parent companies’ quarterly earnings) were also hit-and-miss, if less dramatic. NBCUniversal’s Peacock remained flat at 13 million paid subs while its free tier shed 1 million monthly active accounts. On the other end of the spectrum, Paramount+ added nearly 5 million paid subscribers.
Where does each subscriber video-on-demand service stand?...
Netflix followed up its shocking Q1 loss of 200,000 paid global subscribers with a decline of 970,000 subscribers in the second quarter. Despite losing nearly five times as many global paid subscribers in the second quarter as it did in the first, Netflix’s Q2 results w reflected a net positive: Netflix forecast losing twice as many.
Subscriber counts from other major streaming services (courtesy of their parent companies’ quarterly earnings) were also hit-and-miss, if less dramatic. NBCUniversal’s Peacock remained flat at 13 million paid subs while its free tier shed 1 million monthly active accounts. On the other end of the spectrum, Paramount+ added nearly 5 million paid subscribers.
Where does each subscriber video-on-demand service stand?...
- 8/11/2022
- by Tony Maglio
- Indiewire
NBCUniversal streaming service Peacock added zero paid subscribers in the second quarter of 2022 and lost 1 million monthly active accounts (MAAs) from Q1, according to second-quarter earnings Comcast reported today. That leaves Peacock with the 13 million paid subs it reported in Q1 and 27 million MAAs.
Comcast’s Q2 results stated that Peacock’s paid subscribers “stayed relatively flat” from the previous quarter. When IndieWire attempted to get a bit more granular with a Comcast corporate spokesperson, he would not elaborate.
Executives at NBCU’s parent company are doing their best to spin those results as a good thing. “Going from zero to 13 million paid subs in a couple of years at Peacock is a great achievement,” said Comcast chairman Brian L. Roberts during Thursday morning’s earnings conference call. Peacock launched just over two years ago and almost immediately suffered a significant hiccup when the Covid pandemic delayed the 2020 Summer Olympics.
Comcast’s Q2 results stated that Peacock’s paid subscribers “stayed relatively flat” from the previous quarter. When IndieWire attempted to get a bit more granular with a Comcast corporate spokesperson, he would not elaborate.
Executives at NBCU’s parent company are doing their best to spin those results as a good thing. “Going from zero to 13 million paid subs in a couple of years at Peacock is a great achievement,” said Comcast chairman Brian L. Roberts during Thursday morning’s earnings conference call. Peacock launched just over two years ago and almost immediately suffered a significant hiccup when the Covid pandemic delayed the 2020 Summer Olympics.
- 7/28/2022
- by Tony Maglio
- Indiewire
Amazon Studios and Prime Video officially welcomed MGM into their sizable Seattle home on Thursday, all for the low, low adoption rate of $8.5 billion. Will the newfangled streaming service and the near-century-old studio play nice together inside their new living arrangement?
Well, for starters, James Bond isn’t about to go straight to the small screen — so theatrical plans won’t be shaken (nor stirred) too much, one Amazon insider told IndieWire.
Amazon Studios and Prime Video (now with 100 percent more MGM!) will continue to support theatrical releases, the person who spoke with us on the condition of anonymity said, but there will not be a universal approach to deciding where a movie goes and when. Over time, leadership at the combined company will evaluate what is best on a film-by-film basis. While there will be no hard line against theatrical, there is also no window commitment in place. And...
Well, for starters, James Bond isn’t about to go straight to the small screen — so theatrical plans won’t be shaken (nor stirred) too much, one Amazon insider told IndieWire.
Amazon Studios and Prime Video (now with 100 percent more MGM!) will continue to support theatrical releases, the person who spoke with us on the condition of anonymity said, but there will not be a universal approach to deciding where a movie goes and when. Over time, leadership at the combined company will evaluate what is best on a film-by-film basis. While there will be no hard line against theatrical, there is also no window commitment in place. And...
- 3/17/2022
- by Tony Maglio
- Indiewire
Taking liberty with some Fall Out Boy lyrics: Streaming ain’t a scene, it’s a goddamn arms race. The main revenue stream for SVOD services comes from paid subscribers like you and me, so the market closely monitors the growth level for each of the major players. So do we.
Last week, IndieWire compiled the content spends for each of the major streaming services. The week, we rank their respective subscriber totals, small to big, as of the end of calendar 2021. Yeah, we’re kind of like a one-stop shop for Dtc data points this month.
Several giants have subscriber figures in or around the triple digits: Netflix, Disney, and the soon-to-be combined Discovery+ and HBO Max (including linear HBO). The others are Peacock. Sorry, NBCUniversal, but your number is just not very good — and none of us want to see another Seeso incident.
Peacock
NBCUniversal’s Peacock, also home to the WWE Network,...
Last week, IndieWire compiled the content spends for each of the major streaming services. The week, we rank their respective subscriber totals, small to big, as of the end of calendar 2021. Yeah, we’re kind of like a one-stop shop for Dtc data points this month.
Several giants have subscriber figures in or around the triple digits: Netflix, Disney, and the soon-to-be combined Discovery+ and HBO Max (including linear HBO). The others are Peacock. Sorry, NBCUniversal, but your number is just not very good — and none of us want to see another Seeso incident.
Peacock
NBCUniversal’s Peacock, also home to the WWE Network,...
- 3/16/2022
- by Tony Maglio
- Indiewire
Peacock has “over 9 million paid subscribers,” Comcast chairman and CEO Brian L. Roberts revealed on Thursday. The streaming service is making a little less than $10 monthly per paid subscriber, including advertising, he added. We’ll save you the math: that’s $90 million per month in Peacock subscription and advertising revenue.
Most Peacock users have opted for the $4.99 ad-supported option (Peacock Premium) over the $9.99 ad-free option (Peacock Plus), Roberts said.
“Within these 24.5 MAAs [Monthly Active Accounts] are over 9 million paid subscribers approaching $10 in paid Arpu [Average Revenue Per Unit], which includes the advertising. And that is without much focus on paid subscriber growth,” Roberts said during a conference call following the release of Comcast’s Q4 earnings. “We have another 7 million highly engaged bundle subscribers from Xfinity and other top distributors who use Peacock every single month and currently receive Peacock Premium at no extra cost.”
So that’s 9 million paid, 7 million who don’t have to pay for the mid-level option,...
Most Peacock users have opted for the $4.99 ad-supported option (Peacock Premium) over the $9.99 ad-free option (Peacock Plus), Roberts said.
“Within these 24.5 MAAs [Monthly Active Accounts] are over 9 million paid subscribers approaching $10 in paid Arpu [Average Revenue Per Unit], which includes the advertising. And that is without much focus on paid subscriber growth,” Roberts said during a conference call following the release of Comcast’s Q4 earnings. “We have another 7 million highly engaged bundle subscribers from Xfinity and other top distributors who use Peacock every single month and currently receive Peacock Premium at no extra cost.”
So that’s 9 million paid, 7 million who don’t have to pay for the mid-level option,...
- 1/27/2022
- by Tony Maglio
- The Wrap
NBCUniversal streaming service Peacock reached 24.5 million monthly active accounts in the U.S. at the end of 2021. That’s about 4.5 million more monthly active accounts than when we got our last update back in July. We did not get an actual subscriber tally (again) early Thursday morning, when parent company Comcast reported its fourth-quarter and full-year 2021 financials.
All told, Comcast outperformed analyst expectations, but those added Peacock accounts came at a steep price.
Wall Street forecast earnings per share (Eps) of 73 cents on $29.74 billion in revenue, according to a consensus of media analysts compiled by Yahoo Finance. Comcast reported Eps of 77 cents on $30.336 billion in revenue. The earnings figure was up 37.5% from Q4 2020; revenue rose 9.5%.
NBCU quarterly revenue jumped 25.6% from Q4 2020 to $9.3 billion. While revenue at the company’s Media segment, which includes Peacock, increased 8.4%, a $559 million loss related to the streaming service provided a big blow to the bottom line.
All told, Comcast outperformed analyst expectations, but those added Peacock accounts came at a steep price.
Wall Street forecast earnings per share (Eps) of 73 cents on $29.74 billion in revenue, according to a consensus of media analysts compiled by Yahoo Finance. Comcast reported Eps of 77 cents on $30.336 billion in revenue. The earnings figure was up 37.5% from Q4 2020; revenue rose 9.5%.
NBCU quarterly revenue jumped 25.6% from Q4 2020 to $9.3 billion. While revenue at the company’s Media segment, which includes Peacock, increased 8.4%, a $559 million loss related to the streaming service provided a big blow to the bottom line.
- 1/27/2022
- by Tony Maglio
- The Wrap
Comcast-Owned Sky Ditches Satellite Dish and Cable Box With Launch of ‘Sky Glass’ Streaming Hardware
Comcast-owned British broadcaster Sky has unveiled Sky Glass, a new streaming television and “innovation platform.”
The almost entirely wireless television is a large screen that can be installed swiftly and only requires an Internet connection to operate — dispensing with the need for a satellite dish or cable box.
The service will amalgamate shows and films from each different streaming service in one place, allowing users to search by title or category without having to log into each one separately, including Disney Plus, Amazon Prime Video, Netflix, BBC iPlayer and Sky’s own Now service, among others. It will even allow users to seamlessly watch shows where seasons are split between different streaming services due to licensing constraints.
“[This is] Sky embracing aggregation as a strategy,” said Sky CEO Dana Strong during a press event for the launch on Thursday morning in London, U.K.
At the moment, the television will only...
The almost entirely wireless television is a large screen that can be installed swiftly and only requires an Internet connection to operate — dispensing with the need for a satellite dish or cable box.
The service will amalgamate shows and films from each different streaming service in one place, allowing users to search by title or category without having to log into each one separately, including Disney Plus, Amazon Prime Video, Netflix, BBC iPlayer and Sky’s own Now service, among others. It will even allow users to seamlessly watch shows where seasons are split between different streaming services due to licensing constraints.
“[This is] Sky embracing aggregation as a strategy,” said Sky CEO Dana Strong during a press event for the launch on Thursday morning in London, U.K.
At the moment, the television will only...
- 10/7/2021
- by K.J. Yossman
- Variety Film + TV
Peacock has reached 54 million signups to-date and 20 million monthly active accounts, NBCUniversal’s parent company Comcast revealed Thursday during its second-quarter 2021 earnings call.
The overall signup tally is up from the 42 million subscribers that the company reported its fledgling streaming service had reached by the end of March. That’s well ahead of targets, as Comcast had previously projected Peacock would have up to 35 million subscribers by the end of 2024.
It should be noted that Peacock was finally made available on Amazon Fire TV devices, a huge player in the streaming world, during Q2.
Also on the call Thursday, CEO Brian L. Roberts revealed Peacock will be launching internationally for the first time later this year as it becomes available to European customers via UK-based media provider Sky, which is owned by Comcast.
“Later this year, we will leverage Sky’s significant scale and powerful brand to include Peacock at...
The overall signup tally is up from the 42 million subscribers that the company reported its fledgling streaming service had reached by the end of March. That’s well ahead of targets, as Comcast had previously projected Peacock would have up to 35 million subscribers by the end of 2024.
It should be noted that Peacock was finally made available on Amazon Fire TV devices, a huge player in the streaming world, during Q2.
Also on the call Thursday, CEO Brian L. Roberts revealed Peacock will be launching internationally for the first time later this year as it becomes available to European customers via UK-based media provider Sky, which is owned by Comcast.
“Later this year, we will leverage Sky’s significant scale and powerful brand to include Peacock at...
- 7/29/2021
- by Jennifer Maas and Tim Baysinger
- The Wrap
Comcast’s theme parks division turned a profit in Q2, marking its first profitable period since Q1 2020 (before Covid-19 forced the shuttering of almost all theme parks globally), the company revealed in its second-quarter 2021 earnings report Thursday.
Revenue from Universal’s newly reopened theme parks, including Universal Orlando Resort, Universal Studios Japan and Universal Studios Hollywood, was $1.1 billion, up $958 million compared to the same time period last year, when each of the company’s theme parks were closed for either the majority or entirety of the quarter as a result of Covid-19.
Meanwhile, Comcast’s NBCUniversal took a $363 million loss related to streaming service Peacock in Q2, according to the company’s financial release. The media giant revealed Thursday it had 54 million signups to-date and 20 million monthly active accounts, up from the 42 million Comcast reported at the end of Q1 of this year.
Still, Comcast beat analysts’ estimates for how...
Revenue from Universal’s newly reopened theme parks, including Universal Orlando Resort, Universal Studios Japan and Universal Studios Hollywood, was $1.1 billion, up $958 million compared to the same time period last year, when each of the company’s theme parks were closed for either the majority or entirety of the quarter as a result of Covid-19.
Meanwhile, Comcast’s NBCUniversal took a $363 million loss related to streaming service Peacock in Q2, according to the company’s financial release. The media giant revealed Thursday it had 54 million signups to-date and 20 million monthly active accounts, up from the 42 million Comcast reported at the end of Q1 of this year.
Still, Comcast beat analysts’ estimates for how...
- 7/29/2021
- by Jennifer Maas
- The Wrap
ViacomCBS Chair Shari Redstone was doing the rounds at Sun Valley but contrary to reports, she did not have a meeting with Comcast CEO Brian Roberts at the Allen & Co. mogul mountain retreat, according to a person familiar with the situation. The Philly-based conglom has been the subject of constant deal speculation since two big mergers have promised to redraw the entertainment landscape if and when they close.
Within a week in May, AT&T’s WarneMedia announced plans to combine with Discovery and Amazon to buy MGM – the latter deal currently being scrutinized at an FTC led by antitrust reform champion Lina Khan. Both agreements were geared towards streaming content in an increasingly competitive market. Platforms multiplied and subscribers surged in 2020 during the worst of Covid. But investors got jittery when Netflix and Disney added fewer subscribers in the March quarter, further fueling talk of a content arms race.
Now,...
Within a week in May, AT&T’s WarneMedia announced plans to combine with Discovery and Amazon to buy MGM – the latter deal currently being scrutinized at an FTC led by antitrust reform champion Lina Khan. Both agreements were geared towards streaming content in an increasingly competitive market. Platforms multiplied and subscribers surged in 2020 during the worst of Covid. But investors got jittery when Netflix and Disney added fewer subscribers in the March quarter, further fueling talk of a content arms race.
Now,...
- 7/17/2021
- by Jill Goldsmith
- Deadline Film + TV
Still, Comcast beat Wall Street’s predictions for both earnings and revenue in Q1
Universal’s box office revenue fell 87.7% year over year during the first quarter of 2021, a steep decline primarily driven by the deferral of theatrical releases as a result of movie theater remaining shuttered or operating at reduced capacity due to Covid-19, parent company Comcast reported in its Q1 earnings Thursday.
That is in comparison to Comcast’s Jan. 1-March 31, 2020 quarter, a time span during which the coronavirus pandemic was just beginning to affect movie theater closures around the world.
The Bob Odenkirk film “Nobody,” which came out March 26, was the studio’s only movie that had a partial theatrical release during Q1 2021.
Still, Comcast outperformed analysts’ estimates for both its Q1 2021 earnings and revenue.
Wall Street forecast earnings per share (Eps) of 58 cents on $26.7 billion in revenue, according to a consensus compiled by Yahoo Finance. Comcast...
Universal’s box office revenue fell 87.7% year over year during the first quarter of 2021, a steep decline primarily driven by the deferral of theatrical releases as a result of movie theater remaining shuttered or operating at reduced capacity due to Covid-19, parent company Comcast reported in its Q1 earnings Thursday.
That is in comparison to Comcast’s Jan. 1-March 31, 2020 quarter, a time span during which the coronavirus pandemic was just beginning to affect movie theater closures around the world.
The Bob Odenkirk film “Nobody,” which came out March 26, was the studio’s only movie that had a partial theatrical release during Q1 2021.
Still, Comcast outperformed analysts’ estimates for both its Q1 2021 earnings and revenue.
Wall Street forecast earnings per share (Eps) of 58 cents on $26.7 billion in revenue, according to a consensus compiled by Yahoo Finance. Comcast...
- 4/29/2021
- by Jennifer Maas
- The Wrap
Comcast’s fourth-quarter 2020 financials reflected expected struggles for its NBCUniversal division due to the ongoing coronavirus pandemic. Fortunately, the company’s traditional business made up for some of the difficulties at the entertainment subsidiary.
NBCUniversal’s Q4 revenue fell 18% year to year as TV ratings declined and the rolling-out of several series was delayed due to Covid-19 production shutdowns. Cable television revenue slipped 6% from Q4 2019. Broadcast-tv (NBC) revenue declines doubled that on a percentage basis.
To-date, streaming service Peacock has reached 33 million subscribers, according to Comcast.
On the film side, “The Croods: A New Age” contributed what it could from a mostly home release. There was *some* theatrical revenue kicked in from the Nov. 25 release, but overall the company’s theatrical box office haul dropped 70% from the comparable quarter in 2019.
All told, filmed entertainment revenue declined 8%.
Universal’s theme parks revenue fell 63% as the Universal Studios Hollywood location remained closed...
NBCUniversal’s Q4 revenue fell 18% year to year as TV ratings declined and the rolling-out of several series was delayed due to Covid-19 production shutdowns. Cable television revenue slipped 6% from Q4 2019. Broadcast-tv (NBC) revenue declines doubled that on a percentage basis.
To-date, streaming service Peacock has reached 33 million subscribers, according to Comcast.
On the film side, “The Croods: A New Age” contributed what it could from a mostly home release. There was *some* theatrical revenue kicked in from the Nov. 25 release, but overall the company’s theatrical box office haul dropped 70% from the comparable quarter in 2019.
All told, filmed entertainment revenue declined 8%.
Universal’s theme parks revenue fell 63% as the Universal Studios Hollywood location remained closed...
- 1/28/2021
- by Tony Maglio
- The Wrap
More than 33 million people have signed up for Peacock to date, NBCUniversal parent company Comcast revealed Thursday.
That’s up from the 26 million subscribers that NBCU CEO Jeff Shell said the the new streaming service had reached on Dec. 8. It’s also well ahead of previous targets as Comcast had previously projected Peacock would have up to 35 million subscribers by the end of 2024.
To give an idea of Peacock’s continued growth, in late October, Comcast CEO Brian L. Roberts revealed the platform was nearing 22 million sign-ups. Prior to that update, in mid-September, Comcast said the platform had just topped 15 million sign-ups after hitting 10 million sign-ups at the end of July.
The ad-supported service first became available to Comcast and Cox customers on April 15, three months before its full launch on July 15. Unlike HBO Max, Peacock is still not available on Amazon Fire TV devices, a huge player in the streaming world.
That’s up from the 26 million subscribers that NBCU CEO Jeff Shell said the the new streaming service had reached on Dec. 8. It’s also well ahead of previous targets as Comcast had previously projected Peacock would have up to 35 million subscribers by the end of 2024.
To give an idea of Peacock’s continued growth, in late October, Comcast CEO Brian L. Roberts revealed the platform was nearing 22 million sign-ups. Prior to that update, in mid-September, Comcast said the platform had just topped 15 million sign-ups after hitting 10 million sign-ups at the end of July.
The ad-supported service first became available to Comcast and Cox customers on April 15, three months before its full launch on July 15. Unlike HBO Max, Peacock is still not available on Amazon Fire TV devices, a huge player in the streaming world.
- 1/28/2021
- by Jennifer Maas
- The Wrap
Dana Strong will succeed Jeremy Darroch as Sky Group CEO, parent company Comcast said on Wednesday. Darroch will transition into an executive chairman role.
Darroch has been CEO of Sky since 2007. Under his leadership, Sky has tripled in size. In 2018, Comcast outbid Fox to buy Sky for $39 billion.
With nearly 24 million customers, Sky is Europe’s largest multi-platform TV provider.
Strong was most recently the president of consumer services for Comcast Cable. Prior to joining Comcast, Strong was president and chief operating officer of Virgin Media in the UK.
“I would like to thank Jeremy for his exceptional leadership of Sky and his partnership since we acquired the company,” Comcast chief Brian L. Roberts said in a statement accompanying the announcement. “Sky’s values have been a perfect fit for ours and I credit Jeremy with building an incredible culture and executing the seamless integration with Comcast. He and his...
Darroch has been CEO of Sky since 2007. Under his leadership, Sky has tripled in size. In 2018, Comcast outbid Fox to buy Sky for $39 billion.
With nearly 24 million customers, Sky is Europe’s largest multi-platform TV provider.
Strong was most recently the president of consumer services for Comcast Cable. Prior to joining Comcast, Strong was president and chief operating officer of Virgin Media in the UK.
“I would like to thank Jeremy for his exceptional leadership of Sky and his partnership since we acquired the company,” Comcast chief Brian L. Roberts said in a statement accompanying the announcement. “Sky’s values have been a perfect fit for ours and I credit Jeremy with building an incredible culture and executing the seamless integration with Comcast. He and his...
- 1/6/2021
- by Tony Maglio
- The Wrap
Jeremy Darroch is stepping down as the CEO of European pay-tv giant Sky after 13 years. In his place, Comcast is installing one of its own executives: Dana Strong, president of consumer services.
Darroch first joined Sky in 2004 as CFO and was elevated to chief executive three years later. He has overseen a period of extraordinary growth at Sky, which resulted in the company becoming a European powerhouse and ultimately being acquired by Comcast for £30 billion ($40 billion) in 2018.
Darroch will move upstairs for the rest of 2021, serving as executive chairman. Comcast CEO Brian L. Roberts thanked Darroch for his “exceptional leadership” and said he was glad to have him around as an adviser.
Strong becomes Sky CEO after three years as Comcast’s president of consumer services, based in Philadelphia. She is no stranger to the UK, however, having worked as president and COO at Sky’s cable rival Virgin Media...
Darroch first joined Sky in 2004 as CFO and was elevated to chief executive three years later. He has overseen a period of extraordinary growth at Sky, which resulted in the company becoming a European powerhouse and ultimately being acquired by Comcast for £30 billion ($40 billion) in 2018.
Darroch will move upstairs for the rest of 2021, serving as executive chairman. Comcast CEO Brian L. Roberts thanked Darroch for his “exceptional leadership” and said he was glad to have him around as an adviser.
Strong becomes Sky CEO after three years as Comcast’s president of consumer services, based in Philadelphia. She is no stranger to the UK, however, having worked as president and COO at Sky’s cable rival Virgin Media...
- 1/6/2021
- by Jake Kanter
- Deadline Film + TV
Comcast Cable executive Dana Strong is set to succeed Jeremy Darroch as CEO of Sky Group in what is a major restructure at the European pay-tv operator.
A 13-year veteran of Sky, Darroch will stay on as executive chairman through 2021, and will serve as an advisor to the company thereafter. The reshuffle comes just over two years since Comcast completed its acquisition of Rupert Murdoch’s pay-tv outfit.
Strong, who joined Comcast in 2018 from Sky competitor Virgin Media in the U.K., most recently served as president of consumer services for Comcast Cable, the largest broadband and TV provider in the U.S with nearly 33 million customers. In this role, she was responsible for Comcast’s residential business and led new product and market launches in broadband, video, home security and mobile. Under Strong, the company achieved record subscriber and broadband growth.
Strong — who was educated in the U.S.
A 13-year veteran of Sky, Darroch will stay on as executive chairman through 2021, and will serve as an advisor to the company thereafter. The reshuffle comes just over two years since Comcast completed its acquisition of Rupert Murdoch’s pay-tv outfit.
Strong, who joined Comcast in 2018 from Sky competitor Virgin Media in the U.K., most recently served as president of consumer services for Comcast Cable, the largest broadband and TV provider in the U.S with nearly 33 million customers. In this role, she was responsible for Comcast’s residential business and led new product and market launches in broadband, video, home security and mobile. Under Strong, the company achieved record subscriber and broadband growth.
Strong — who was educated in the U.S.
- 1/6/2021
- by Manori Ravindran
- Variety Film + TV
“The Office” will be leaving Netflix for its new streaming home Peacock at the end of the year. But if you thought the show’s move from a subscription service to a free platform meant that it would be available for free — at least in full — you were wrong.
Beginning Jan. 1, 2021, all 2o1 episodes of the Steve Carell-led series will begin streaming on NBCUniversal’s Peacock, only the first two seasons will be available to those using the free version of the streaming service.
The ad-supported streaming service revealed Monday that you’ll have to pay $4.99 a month for Peacock Premium — or $9.99 for no ads with Peacock Premium Plus — to get all of the Season 3-9 episodes, along with “Superfan Episodes” that include “never-before-seen footage and deleted scenes in extended cuts of the original series.”
Currently, the lowest price you can pay to watch “The Office” on Netflix is...
Beginning Jan. 1, 2021, all 2o1 episodes of the Steve Carell-led series will begin streaming on NBCUniversal’s Peacock, only the first two seasons will be available to those using the free version of the streaming service.
The ad-supported streaming service revealed Monday that you’ll have to pay $4.99 a month for Peacock Premium — or $9.99 for no ads with Peacock Premium Plus — to get all of the Season 3-9 episodes, along with “Superfan Episodes” that include “never-before-seen footage and deleted scenes in extended cuts of the original series.”
Currently, the lowest price you can pay to watch “The Office” on Netflix is...
- 12/14/2020
- by Jennifer Maas
- The Wrap
More than 26 million people have signed up for NBCUniversal’s ad-supported streaming service, Peacock, NBCU CEO Jeff Shell said during the Ubs Global Tmt Virtual Investor Conference Tuesday.
That’s up 4 million sign-ups from the 22 million that Brian L. Roberts, CEO of NBCUniversal parent company Comcast, said the the new streaming service was nearing on Oct. 29. Comcast has projected Peacock will have up to 35 million subscribers by the end of 2024.
“The momentum just continues in a very strong linear way,” Shell said Tuesday. “And we don’t have any of our strong programming yet. So we get ‘The Office’ exclusively on January 1, which is one of Netflix’s top shows. If you try to watch ‘The Office’ on Netflix right now, pretty hard to find it. But despite the fact that they’re making it harder to find, it’s still, particularly amongst people under the age of 34, is a top show.
That’s up 4 million sign-ups from the 22 million that Brian L. Roberts, CEO of NBCUniversal parent company Comcast, said the the new streaming service was nearing on Oct. 29. Comcast has projected Peacock will have up to 35 million subscribers by the end of 2024.
“The momentum just continues in a very strong linear way,” Shell said Tuesday. “And we don’t have any of our strong programming yet. So we get ‘The Office’ exclusively on January 1, which is one of Netflix’s top shows. If you try to watch ‘The Office’ on Netflix right now, pretty hard to find it. But despite the fact that they’re making it harder to find, it’s still, particularly amongst people under the age of 34, is a top show.
- 12/8/2020
- by Jennifer Maas
- The Wrap
NBCUniversal’s Peacock is peacocking again this morning, when parent company Comcast boasted the streaming service has “nearly 22 million sign-ups.” The number was revealed in Thursday’s third-quarter 2020 financials.
Our last check in came in mid-September, when Comcast CEO Brian L. Roberts said Peacock had just topped 15 million sign-ups. Prior to that update, as of the end of July, Peacock had 10 million sign-ups.
Comcast has projected Peacock will have up to 35 million subscribers by the end of 2024.
The Peacock ad-supported service first became available to Comcast and Cox customers on April 15, three before its full launch on July 15. Like HBO Max, Peacock is still not available on Amazon Fire TV devices, a huge player in the streaming world.
Peacock, which offers originals like late-night shows from Larry Wilmore and Amber Ruffin (pictured above), as well as the upcoming “Saved by the Bell” reboot and library content like “30 Rock,” is available in two tiers,...
Our last check in came in mid-September, when Comcast CEO Brian L. Roberts said Peacock had just topped 15 million sign-ups. Prior to that update, as of the end of July, Peacock had 10 million sign-ups.
Comcast has projected Peacock will have up to 35 million subscribers by the end of 2024.
The Peacock ad-supported service first became available to Comcast and Cox customers on April 15, three before its full launch on July 15. Like HBO Max, Peacock is still not available on Amazon Fire TV devices, a huge player in the streaming world.
Peacock, which offers originals like late-night shows from Larry Wilmore and Amber Ruffin (pictured above), as well as the upcoming “Saved by the Bell” reboot and library content like “30 Rock,” is available in two tiers,...
- 10/29/2020
- by Tony Maglio
- The Wrap
Comcast reported third-quarter 2020 earnings Thursday, revealing a 37% decline in profit due to heavy losses at the box office and theme parks but a 49% increase in home entertainment revenue with the on-demand release of “Trolls World Tour,” which skipped theaters in March due to Covid-19.
The media giant’s theatrical arm was hit hard — as it has been across the board for companies amid the pandemic — with box office revenue falling 94.75%.
Revenue at Comcast’s Universal theme parks fell 81% in the quarter ended Sept. 30, 2020, the company said on Thursday, due to Universal Orlando Resort and Universal Studios Japan operating at limited capacity, while Universal Studios Hollywood remains closed as a result of Covid-19.
Meanwhile, Comcast said signups for its Peacock streaming service are nearing 22 million since it launched nationwide in July. In September, the company reported the streaming service had topped 15 million signups to date, exactly two months after its full rollout.
The media giant’s theatrical arm was hit hard — as it has been across the board for companies amid the pandemic — with box office revenue falling 94.75%.
Revenue at Comcast’s Universal theme parks fell 81% in the quarter ended Sept. 30, 2020, the company said on Thursday, due to Universal Orlando Resort and Universal Studios Japan operating at limited capacity, while Universal Studios Hollywood remains closed as a result of Covid-19.
Meanwhile, Comcast said signups for its Peacock streaming service are nearing 22 million since it launched nationwide in July. In September, the company reported the streaming service had topped 15 million signups to date, exactly two months after its full rollout.
- 10/29/2020
- by Jennifer Maas
- The Wrap
NBCUniversal streaming service Peacock has reached more than 15 million sign-ups, Comcast chairman and CEO Brian Roberts told a virtual conference on Tuesday.
And Comcast Cable is trending to add more than 500,000 broadband subscribers in the current third quarter, which would be a new record, he also said during an appearance at the Goldman Sachs Communacopia Conference.
The Comcast CEO said 2021 will be a difficult year for entertainment arm NBCUniversal’s film unit as expenditures for new movies will be necessary while not enough hits from this year, hit by the novel coronavirus pandemic, will be bringing ...
And Comcast Cable is trending to add more than 500,000 broadband subscribers in the current third quarter, which would be a new record, he also said during an appearance at the Goldman Sachs Communacopia Conference.
The Comcast CEO said 2021 will be a difficult year for entertainment arm NBCUniversal’s film unit as expenditures for new movies will be necessary while not enough hits from this year, hit by the novel coronavirus pandemic, will be bringing ...
- 9/15/2020
- The Hollywood Reporter - Film + TV
Comcast Beats on Q2 Earnings Despite Revenue Falling More Than 90% at the Box Office and Theme Parks
The second quarter of 2020, when the coronavirus pandemic ravaged the United States and beyond, was not a good one for theme parks or movie theaters. Today was Comcast’s turn to reveal just how hard hit its Universal locations — and film group — were in Q2.
Revenue at Comcast’s Universal theme parks plummeted by 94.1% in the quarter ended June 30, 2020, the company said on Thursday. The box office fared even worse, with theatrical revenue dropping 96.8%.
Overall, NBCUniversal’s revenue sunk 25.4% with filmed entertainment declining 18.1% and cable TV dropping 14.7%.
The company’s cable communications business was essentially flat year to year. Comcast lost 477,000 net TV subscribers in the quarter.
Also Read: Cineworld CEO Calls Universal, AMC On-Demand Streaming Model 'A Wrong Move'
Advertising revenue at NBCU’s cable television fell 27% from the comparable quarter last year. Distribution revenue declined 14.8% due to cord cutting and a lack of professional sports at RSNs (Regional Sports Networks). Fortunately,...
Revenue at Comcast’s Universal theme parks plummeted by 94.1% in the quarter ended June 30, 2020, the company said on Thursday. The box office fared even worse, with theatrical revenue dropping 96.8%.
Overall, NBCUniversal’s revenue sunk 25.4% with filmed entertainment declining 18.1% and cable TV dropping 14.7%.
The company’s cable communications business was essentially flat year to year. Comcast lost 477,000 net TV subscribers in the quarter.
Also Read: Cineworld CEO Calls Universal, AMC On-Demand Streaming Model 'A Wrong Move'
Advertising revenue at NBCU’s cable television fell 27% from the comparable quarter last year. Distribution revenue declined 14.8% due to cord cutting and a lack of professional sports at RSNs (Regional Sports Networks). Fortunately,...
- 7/30/2020
- by Tony Maglio and Jennifer Maas
- The Wrap
The Comcast-owned Universal Beijing Resort is set to open “on time and on budget in 2021,” Comcast CEO Brian L. Roberts said on Thursday, appropriately beginning that news with the word “amazingly.”
Currently, there are 15,000 construction workers on that site, he said — even more than before the coronavirus disrupted everything. That’s one way to play catch-up.
“We have a safe working environment with many protocols in place,” Roberts added.
The park is expected to open in May 2021.
Also Read: NBCUniversal CEO: VOD Will Be 'Complementary Element,' Not 'Replacement' for Theatrical Releases Post-Pandemic
The U.S. theme parks situation is different due to the timing the novel coronavirus made landfall here — and construction on Orlando, Florida’s fourth gate is delayed — but Roberts says he is “heartened by what we’re seeing in China.”
Super Nintendo World Japan, a video gamed theme park, is “likely to open a few months past our original expectation,...
Currently, there are 15,000 construction workers on that site, he said — even more than before the coronavirus disrupted everything. That’s one way to play catch-up.
“We have a safe working environment with many protocols in place,” Roberts added.
The park is expected to open in May 2021.
Also Read: NBCUniversal CEO: VOD Will Be 'Complementary Element,' Not 'Replacement' for Theatrical Releases Post-Pandemic
The U.S. theme parks situation is different due to the timing the novel coronavirus made landfall here — and construction on Orlando, Florida’s fourth gate is delayed — but Roberts says he is “heartened by what we’re seeing in China.”
Super Nintendo World Japan, a video gamed theme park, is “likely to open a few months past our original expectation,...
- 4/30/2020
- by Tony Maglio
- The Wrap
Comcast beat earnings estimates but missed on revenue in the first quarter of 2020, feeling the initial impact of the pandemic-forced closure of theme parks.
With movie theaters also shutting down due to the coronavirus, Universal’s box office ticket sales struggled. That division’s revenue also faced a tough comparison to year-ago hits like “How to Train Your Dragon: The Hidden World.”
Wall Street forecast earnings per share (Eps) of 68 cents on $26.75 billion in revenue, according to a consensus estimate compiled by Yahoo Finance. The NBCUniversal parent company actually reported Eps of 71 cents on $26.61 billion in revenue.
Comcast’s net income fell 39.6% to $2.1 billion. With adjustments, net income was $3.3 billion, which is still a 6.1% decrease.
Also Read: Steve Burke Made $42.6 Million Dollars in Final Year as NBCUniversal President and CEO
Comcast increased its first-quarter revenue for its largest business, cable communications, which rose +4.5% to $14.9 billion, “driven primarily by increases in high-speed internet,...
With movie theaters also shutting down due to the coronavirus, Universal’s box office ticket sales struggled. That division’s revenue also faced a tough comparison to year-ago hits like “How to Train Your Dragon: The Hidden World.”
Wall Street forecast earnings per share (Eps) of 68 cents on $26.75 billion in revenue, according to a consensus estimate compiled by Yahoo Finance. The NBCUniversal parent company actually reported Eps of 71 cents on $26.61 billion in revenue.
Comcast’s net income fell 39.6% to $2.1 billion. With adjustments, net income was $3.3 billion, which is still a 6.1% decrease.
Also Read: Steve Burke Made $42.6 Million Dollars in Final Year as NBCUniversal President and CEO
Comcast increased its first-quarter revenue for its largest business, cable communications, which rose +4.5% to $14.9 billion, “driven primarily by increases in high-speed internet,...
- 4/30/2020
- by Jennifer Maas
- The Wrap
Pretty good last hoorah: Steve Burke hauled in $42.6 million in his final year as NBCUniversal president and CEO. You’d be grinning too.
That’s a few million dollars more than the $40 million he made in 2018. It’s $6.2 million better than Brian L. Roberts, the chairman of the board, president and CEO of NBCU parent Comcast, earned in 2019.
Roberts made $36.4 million last year, up from 2018’s $35 million figure. This time around, his salary was $3.3 million and stock awards $5.3 million. Roberts’ option awards were $5.4 million, and his non-equity incentive plan compensation came in at about $10 million. Roberts added another $7.6 million in pension valuation changes and tacked on $4.9 million under the catch-all “all other compensation” heading.
Also Read: America Ferrera to Return for 'Superstore' Season 6 Premiere, Which Will Now Be Amy's Farewell
Burke’s compensation broke down like this: $3.1 million in salary, plus the same stock and options awards as Roberts.
That’s a few million dollars more than the $40 million he made in 2018. It’s $6.2 million better than Brian L. Roberts, the chairman of the board, president and CEO of NBCU parent Comcast, earned in 2019.
Roberts made $36.4 million last year, up from 2018’s $35 million figure. This time around, his salary was $3.3 million and stock awards $5.3 million. Roberts’ option awards were $5.4 million, and his non-equity incentive plan compensation came in at about $10 million. Roberts added another $7.6 million in pension valuation changes and tacked on $4.9 million under the catch-all “all other compensation” heading.
Also Read: America Ferrera to Return for 'Superstore' Season 6 Premiere, Which Will Now Be Amy's Farewell
Burke’s compensation broke down like this: $3.1 million in salary, plus the same stock and options awards as Roberts.
- 4/24/2020
- by Tony Maglio
- The Wrap
Comcast topped analyst expectations for both revenue and earnings in the fourth quarter of 2019, though cord-cutting and a big box office decline provided some serious challenges. We’re (partially) looking at you, “Cats.”
Wall Street had forecast earnings per share (Eps) of 76 cents on $28.17 billion in revenue, according to a consensus compiled by Yahoo Finance. The NBCUniversal parent company actually reported Eps of 79 cents on $28.398 billion in revenue.
Both of those markers were up single digits on a percentage basis from the final quarter of 2018, though the adjusted earnings growth of 9.7% sure came close to making it double digits.
A net income increase of 25.9% should make investors happy this morning. As will Comcast’s announcement that it is upping dividends to 10%.
Also Read: Tina Fey-Produced Pop Star Comedy 'Girls5Eva' Ordered at Peacock
Universal’s theatrical revenue dropped 59.1% from the comparable quarter last year, when “Halloween” and “The Grinch...
Wall Street had forecast earnings per share (Eps) of 76 cents on $28.17 billion in revenue, according to a consensus compiled by Yahoo Finance. The NBCUniversal parent company actually reported Eps of 79 cents on $28.398 billion in revenue.
Both of those markers were up single digits on a percentage basis from the final quarter of 2018, though the adjusted earnings growth of 9.7% sure came close to making it double digits.
A net income increase of 25.9% should make investors happy this morning. As will Comcast’s announcement that it is upping dividends to 10%.
Also Read: Tina Fey-Produced Pop Star Comedy 'Girls5Eva' Ordered at Peacock
Universal’s theatrical revenue dropped 59.1% from the comparable quarter last year, when “Halloween” and “The Grinch...
- 1/23/2020
- by Tony Maglio
- The Wrap
David L. Cohen, a senior executive vice president at Comcast and the company’s chief diversity officer, is stepping down.
Cohen announced his intentions on Thursday. The announcement was accompanied by a brief SEC filing.
On Jan. 1, 2020, Cohen will step down from his current posts. On Dec. 31, 2020, Cohen will take on a new gig as a senior counselor for Comcast CEO Brian L. Roberts.
“After almost 20 years as a senior executive of Comcast, David Cohen will be stepping away from his many operational roles, effective January 1, 2020,” Roberts said in a statement. “It is impossible to overstate David’s value to Comcast NBCUniversal. I am deeply grateful to him as we have partnered together with a handful of executives to grow Comcast into the great company it is today. His impact on Philadelphia cannot be understated and his passion for diversity and inclusion has helped transform our company and our industry.
Cohen announced his intentions on Thursday. The announcement was accompanied by a brief SEC filing.
On Jan. 1, 2020, Cohen will step down from his current posts. On Dec. 31, 2020, Cohen will take on a new gig as a senior counselor for Comcast CEO Brian L. Roberts.
“After almost 20 years as a senior executive of Comcast, David Cohen will be stepping away from his many operational roles, effective January 1, 2020,” Roberts said in a statement. “It is impossible to overstate David’s value to Comcast NBCUniversal. I am deeply grateful to him as we have partnered together with a handful of executives to grow Comcast into the great company it is today. His impact on Philadelphia cannot be understated and his passion for diversity and inclusion has helped transform our company and our industry.
- 12/5/2019
- by Tony Maglio
- The Wrap
NBCUniversal CEO Steve Burke just told media analysts and reporters that his company’s upcoming streaming service, Peacock, is decidedly not Netflix.
“We’re not doing the same strategy that Netflix and people chasing Netflix have adopted,” Burke said on a Thursday morning conference call tied to NBCU’s parent company Comcast’s third-quarter 2019 earnings.
Instead, they’re “doing a lot of [ad-supported] activity,” he continued, which should “cut the investment pretty substantially.”
“I think we’re gonna get to cruising altitude much more quickly than a subscription service,” Burke added.
Also Read: 'Hobbs & Shaw' Is No 'Jurassic World: Fallen Kingdom,' But Comcast Beats on Q3 Earnings
Plus, Comcast already has a massive group of subscribers — 55 million video customers, to be specific — under its umbrella.
Comcast and NBCUniversal will continue to sell content to other companies, Burke said. And the library available for Peacock is no slouch itself.
The...
“We’re not doing the same strategy that Netflix and people chasing Netflix have adopted,” Burke said on a Thursday morning conference call tied to NBCU’s parent company Comcast’s third-quarter 2019 earnings.
Instead, they’re “doing a lot of [ad-supported] activity,” he continued, which should “cut the investment pretty substantially.”
“I think we’re gonna get to cruising altitude much more quickly than a subscription service,” Burke added.
Also Read: 'Hobbs & Shaw' Is No 'Jurassic World: Fallen Kingdom,' But Comcast Beats on Q3 Earnings
Plus, Comcast already has a massive group of subscribers — 55 million video customers, to be specific — under its umbrella.
Comcast and NBCUniversal will continue to sell content to other companies, Burke said. And the library available for Peacock is no slouch itself.
The...
- 10/24/2019
- by Tony Maglio
- The Wrap
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