Peacock Posts First $189 Million Profit as Q2 Subscribers Rise 2 Million to 48 Million
Updated
Updated · Deadline · Jul 23
Peacock Posts First $189 Million Profit as Q2 Subscribers Rise 2 Million to 48 Million
3 articles · Updated · Deadline · Jul 23
Summary
$189 million in quarterly profit marked Peacock’s first time in the black, with the streamer adding 2 million paid subscribers to reach 48 million in the June quarter.
FIFA World Cup coverage, the NBA Playoffs and Love Island USA drove that gain, while Comcast said the World Cup and Studios together added $440 million in incremental Content & Experiences revenue.
NBCUniversal’s broader media and studio businesses also surged: Media revenue rose 25% to about $5.7 billion, Studios revenue climbed 25% to $3 billion, and studio profit more than tripled to $202 million.
Comcast’s total revenue slipped 1.2% to $29.9 billion even as results beat forecasts, with weakness persisting in connectivity where residential relationships fell by 230,000 and broadband losses totaled 167,000.
The quarter is the first since Comcast unveiled plans to split into two companies, and World Cup viewership plus the recent launch of The Odyssey point to more support for NBCUniversal in the current quarter.