Peacock gains 5 million new subscribers in first quarter
Peacock gains 5 million new subscribers in first quarter
The NBCUniversal streamer also managed to trim losses by a large amount as compared to the year-ago quarter.
As the end of April arrives, big media companies are publicizing their earnings for the first quarter of 2025. Comcast unveiled their results for the first three-month period of the year, and while things weren’t ideal for the company in every aspect, it did see good results from its on-demand streaming service Peacock.
Key Details:
- Subscriber bump: Peacock gained 5 million subscribers in Q1.
- Improving losses: The streamer lost over $400 million less than in the year-ago quarter.
- Advertising downturn: Comcast lost a good chunk of ad revenue thanks to declines from linear networks.
The best news for Peacock during the first quarter was that it gained 5 million new subscribers. That’s a considerable bump for the streamer, especially considering that in the previous two quarters it stayed flat at 36 million customers.
Peacock also brought in more revenue in the first quarter, helping to partially offset lower network revenue. Peacock’s revenue of $1.2 billion ticked up slightly as opposed to the prior-year quarter, when it pulled in $1.1 billion. The results show the challenge that every traditional media company faces: how to make streaming pay more quickly as losses from linear networks compound.
Peacock isn’t quite profitable yet, but it inches closer with every quarter. The streamer lost $215 million in Q1, as compared to a loss of $639 million in the year-ago quarter. If Peacock continues to make similar improvements to its bottom line in the coming months, it will achieve its goal of being profitable before the year is out.
Elsewhere, Comcast had a challenging quarter. Broadband customers fell to 29.2 million, and cable subscribers dropped by 427,000 to 12.1 million. Advertising revenue dipped 7% to $1.9 billion thanks to less viewership on Comcast-owned cable channels.
The quarter saw Comcast renew its deal to continue broadcasting the Olympic Games in the United States until 2026, and also saw Peacock launch an NBC Sports regional sports network add-on option in parts of the United States where those channels are available. Peacock will continue to be a major player in sports streaming thanks in part to these moves.
Peacock
Peacock is a subscription video streaming service from NBCUniversal that includes original shows, blockbuster movies, and classic television series. Peacock is home to “Yellowstone,” “The Office,” and original hits like “Poker Face” and “Bel-Air.” You can also watch live sports and NBC programming, including the NFL, MLB, WWE, the Olympics, the Premier League, NASCAR, the French Open, college football and basketball, and the PGA Tour. Premium Plus subscribers can stream their local NBC feed in all 210 markets.