{"id":19020,"date":"2023-10-27T20:14:04","date_gmt":"2023-10-27T20:14:04","guid":{"rendered":"https:\/\/mysourcefunding.com\/marketing\/losses-lessen-at-peacock-as-subscriber-count-reaches-28-million\/"},"modified":"2023-10-27T20:14:05","modified_gmt":"2023-10-27T20:14:05","slug":"losses-lessen-at-peacock-as-subscriber-count-reaches-28-million","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=19020","title":{"rendered":"Losses lessen at Peacock as subscriber count reaches 28 million"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"style__InlineSubscribeWrapper-sc-6c5f8bb2-1 ejIYkL\">\n<div class=\"style__Container-sc-6fdcc87e-0 style__RoundedContainer-sc-6c630ac0-0 iTWzCH wGFGp\">\n<h5 class=\"dist__StyledText-sc-630f0a6f-12 klywaN inline-subscribe\">Get marketing news you&#8217;ll actually want to read<\/h5>\n<p class=\"dist__StyledText-sc-630f0a6f-12 djCKmk inline-subscribe\">Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides.<\/p>\n<\/div>\n<\/div>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">Peacock\u2019s move to make customers sign up and pay up is working.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">NBCUniversal\u2019s flagship streaming service added 4 million customers in its most recent quarter, parent company Comcast disclosed, bringing the service\u2019s total subscriber base to 28 million, a nearly 80% YoY increase. Overall, Peacock revenue in the quarter was up 64% in the quarter, to $830 million.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">More importantly, the streaming service lost $565 million in the quarter, down 8% compared to a year ago. Comcast\u2014which is preparing for the sale of its stake in Disney-operated streamer Hulu\u2014anticipated that losses for Peacock, which it previously forecast to hit a peak of $3 billion this year, will be slightly less, at $2.8 billion.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">\u201cWe continue to be pleased with our progress in the few short years since we\u2019ve pivoted our streaming strategy as a result of the ownership changes at Hulu,\u201d Comcast Corp. president Mike Cavanagh told investors Thursday morning.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\"><strong>Changing course: <\/strong>The subscriber growth, along with the shrinking losses for the streamer, come after the company scrapped its free ad-supported tier earlier this year, started charging Comcast Xfinity customers for Peacock in 2022, and hiked prices for ad-supported and ad-free viewers this summer.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">Peacock has boosted its programming options, including next-day airings of certain NBC shows, which began to appear on the platform last year, and live sports, which Comcast chairman and CEO Brian Roberts described as \u201cat the heart and soul of a lot of what we do,\u201d since it can benefit both streaming and Comcast\u2019s connectivity business.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">\u201cWe see all sports finding a way over the next [few] years to be more and more streamed,\u201d Roberts said. \u201cAnd that\u2019s going to require more bandwidth, and that\u2019s going to require and create an opportunity for us to have the superior product in the market.\u201d<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\"><strong>Yes, but: <\/strong>Amid a still-soft ad market, US revenue fell 8.4% YoY to $1.9 billion, which Cavanagh attributed to economic uncertainty that is largely affecting the company\u2019s linear ads business.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\"><strong>Nuclear power: <\/strong>The success of hit biopic <em>Oppenheimer <\/em>was another bright spot for Comcast despite a still-challenging year for theatrical revenue. The film earned more than $900 million at the box office, \u201cbecoming the highest-grossing biopic of all time,\u201d the company reported. With that said, though, NBCUniversal\u2019s overall theatrical revenue was still down 25% year over year.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketingbrew.com\/stories\/2023\/10\/27\/losses-lessen-at-peacock-as-subscriber-count-reaches-28-million?utm_source=&#038;utm_medium=syndication&#038;utm_campaign=feed\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get marketing news you&#8217;ll actually want to read Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides. Peacock\u2019s move to make customers sign up and pay up is working. NBCUniversal\u2019s flagship streaming service added 4 million customers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-19020","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Losses lessen at Peacock as subscriber count reaches 28 million | Brandiary<\/title>\n<meta name=\"description\" content=\"Get marketing news you&#039;ll actually want to readMarketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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