Peacock, Comcast’s entertainment unit NBCUniversal’s streaming service, posted third-quarter revenue growth and narrowed its loss to $436 million from a loss of $565 million, down from the $348 million posted for the second quarter. was compared to loss. of 2024. Boosted by the Summer Olympics in Paris, the streamer ended September with 36.0 million paying users, compared with 33.0 million at the end of June, the company also said Thursday.
Peacock’s revenue grew 82 percent (year-over-year) to $1.5 billion. Adjusted EBITDA improved compared to the prior year period,” Comcast highlighted.
Peacock had its best month ever in August thanks to summer sports, the largest share of TV consumption in the United States in the streamer’s four-year history. However, the streamer had earlier also unveiled a price hike that took effect from July 18 for new customers and August 17 for existing customers.
TD Cowen analyst Gregory Williams had forecast a $366 million loss for Peacock in the third quarter and an increase of 36 million users.
As streaming profits, which have so far been elusive for most industry giants, have focused attention on Wall Street, Peacock previously posted a full-year 2023 loss of $2.75 billion. But Comcast CFO Jason Armstrong emphasized earlier this year that “2023 marked the peak of annual losses at Peacock, and for 2024 we expect losses to show a meaningful improvement over 2023.” keep.”
Meanwhile, Comcast also reported Thursday that its core cable and telecom business lost pay TV and broadband customers again in the third quarter.
Quarterly revenue in the group’s studios segment was driven by strong box office performance. Also released by Universal and in September.
“We delivered an incredibly successful Paris Summer Olympics that helped Peacock achieve double-digit percentage growth in revenue and paid subscribers and NBC’s #1 ranking for the 2023-2024 season,” said Roberts. contributed to the shutdown,” Roberts said. “We also released the globally acclaimed, which grossed nearly $1.0 billion at the worldwide box office, and announced the grand opening of the Universal Epic Universe in May 2025, the largest ever. will be an exciting and technologically advanced theme park. Overall, it was a very active and successful quarter, and I couldn’t be happier with how our team is working towards long-term growth for our company. has been and is positioning it.”
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