Peacock Streaming Losses Deepen to $217 Million as Subscriber Growth Stalls

NBCUniversal’s streaming service, Peacock, reported a third-quarter loss of $217 million. This loss widened from the previous quarter. The news comes as the platform’s subscriber count held steady at 41 million.

The streaming division’s revenue also saw a slight decline. It fell to $1.4 billion from $1.5 billion a year earlier. According to Reuters, this financial performance occurred despite new content releases like The Paper.

Financial Performance and Strategic Shifts

Peacock’s loss is more than double the $101 million loss from the second quarter. However, its adjusted earnings showed some improvement. The service has 41 million paying subscribers, unchanged from June but up from 36 million a year ago.

The company continues to incur costs related to its planned separation. This transaction, creating a new entity called Versant, will see Comcast retain key assets. Peacock, the NBC broadcast network, and Bravo will remain with the parent company.

Broader Comcast Context and Future Outlook

The streaming results are part of a larger picture for Comcast. The company’s core cable business saw a loss of 104,000 broadband customers. Its wireless segment, however, added 414,000 lines.

Comcast leadership remains focused on content and experiences. Chairman and CEO Brian Roberts highlighted upcoming live sports on NBC and Peacock. He also noted the strong performance of the Theme Parks division, where revenue grew 19%.

Peacock streaming losses reflect the intense competition in the direct-to-consumer market. The platform’s stable subscriber base provides a foundation. Its future hinges on balancing content investment with a path to profitability.

Info at your fingertips

How many subscribers does Peacock have?

Peacock ended September with 41 million paying subscribers. This number was steady compared to the end of June. It represents growth from 36 million subscribers a year ago.

What was Peacock’s revenue for the quarter?

Peacock’s revenue was $1.4 billion for the third quarter. This was a slight decrease from the $1.5 billion reported in the same period last year. The streamer’s financial performance is closely watched by investors.

What is the Versant transaction?

Versant is the planned separation of most of NBCUniversal’s cable networks. Comcast will retain Peacock, the NBC broadcast network, and Bravo. The rest of the cable brands and digital assets will form the new Versant entity.

How did Comcast’s other divisions perform?

Comcast’s Theme Parks division saw revenue grow by 19%. The company’s domestic broadband business lost 104,000 customers. Its wireless segment added 414,000 lines.

What did the CEO say about the results?

CEO Brian Roberts pointed to momentum in content and live sports. He specifically mentioned the new NBA coverage on NBC and Peacock. He also highlighted the success of the new Epic Universe theme park.