NBCUniversal’s streaming service Peacock had some struggles last year. While earnings for the fourth quarter of 2021 are discussed, Comcast announced that Peacock made $ 778 million in revenue, with an adjusted loss of $ 1.7 billion. By comparison, in 2020, Peacock had $ 118 million in revenue, coupled with an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $ 663 million. Comcast also revealed that earnings for the fourth quarter of 2021 outperformed Wall Street expectations. Overall, there was a mix of accomplishments and disappointments for the streaming service.
At the end of last year, Peacock had 9 million paying customers, according to Brian Roberts, CEO of Comcast. The announcement was the first time the number of consumers had been announced. Including money made from advertising, the average revenue per customer was $ 10 each month. Roberts explained, “And it’s without much focus on paid subscriber growth.” In addition, Peacock has another 7 million monthly “highly engaged bundle subscribers.”
By 2022, Peacock is expected to lose about $ 2.5 billion. This will happen as investments in content increase. Several programs and movies are in development.
Peacock generated $ 778 million in revenue with an adjusted loss of $ 1.7 billion
The cable and entertainment corporation paid $ 1.5 billion for programming on its streaming service in 2021. Comcast CFO Mike Cavanagh spoke about how the company hopes to double that number by 2022. At that point, investment in content would be equal to $ 3 billion. Finally, Comcast wants to increase the amount spent to $ 5 billion over the next few years.
According to Comcast, Peacock had about 24.5 million consumers who actively used the service. However, the cable company did not always report that estimate. It is therefore possible that the number is completely accurate or not. Peacock needs to catch up a bit to compete with other streaming services. Some, like Netflix and Disney +, have more than 100 million subscribers worldwide. Peacock will also have to create a show that brings in a mainstream audience. Disney + already has several programs that millions watch, such as The Mandalorian and The book by Boba Fett. With the wealth of franchises owned by NBCUniversal, there are many opportunities for Peacock to succeed.
Peacock, which can be viewed with a free or paid version, was first made available to the public in April 2020. In the era of the power wars, the company experienced a great deal of competition. Competitive streaming services include Netflix, Hulu, Amazon Prime Video, Disney +, HBO Max, Paramount + and Discovery +.
Variations of Peacock are a free, ad-supported version, as well as Peacock Premium ($ 4.99 / month, with ads), and Premium Plus ($ 9.99 / month, no ads). Some of the programs and movies are available on each version, while others can only be viewed in one type. The streaming service differs from others in offering different versions. Most other companies only offer a paid range.
Earlier, Comcast’s senior executives told investors they wanted to invest about $ 2 billion in 2020 and 2021. In those two years, the adjusted net loss was $ 2.36 billion. Peacock is currently projected to break even in 2025. However, Cavanagh explained that the break-even point could be moved to a later date.
Peacock’s series Joe Exotic seems to dramatize the story of the Tiger King star, and new set photos have given a first look at Kate McKinnon and Kyle MacLachlan as Carole and Howard Baskin.
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