Peacock remained flat with 36M subscribers in Q4 2024
Peacock remained flat with 36M subscribers in Q4 2024
While customer count was level, the platform is rapidly improving its financials and closing in on profitability.
As with most things in streaming media these days, Comcast’s fourth-quarter 2024 earnings report brought a mixed bag of results for the company’s flagship streaming service Peacock. Despite having weekly NFL and college football games, the platform did not see any new subscribers sign up, but it didn’t see any leave either. Also in the plus column, the streamer’s financials continue to improve dramatically, with profitability coming into focus.
Key Details:
- Peacock remained flat at 36 million paid subscribers in Q4.
- The streamer cut its losses annual losses by more than half in 2024.
- The platform’s revenue climbed to nearly $5 billion last year.
When last Comcast reported earnings, Peacock stood at 36 million customers, still riding the wave from the 2024 Olympics. At the end of Q4, the platform remained at 36M; while flat quarter-to-quarter, the total does mark a 5 million-subscriber increase over the corresponding period in 2023.
In the fourth quarter, Peacock’s revenue increased by 28% to bring it up to $1.3 billion, contributing to the streamer’s $4.9 billion in revenue for 2024, a 46% jump year over year. Despite the revenue gains, Peacock still resulted in a $372 million shortfall for the company. However, that total is less than half of the $825 million that the streamer lost in the previous year. So there is observable positive momentum for the little streamer that could.
The Summer Olympics were a massively contributing factor to Peacock’s success in 2024 as NBC Sports boasted its most-watched year since 2016, a feat made even more impressive by the rapidly declining linear TV market. Comcast hopes to continue that trend in 2025 when it brings both NBA and WNBA games back to NBC and Peacock.
In total, Comcast reported revenue of $31.92 billion in the fourth quarter a 2.1% year-over-year improvement. In the whole of 2024, the company saw a 1.8% revenue increase to $123.73 billion. Those totals represented $8.8B and $38B profit margins respectively.
While the NFL wrapped up early in Q1 2025, company executives are no doubt optimistic that a number of its highly popular films can bring some extra attention to Peacock in the winter months. “Wild Robot” recently debuted on the platform and “Wicked” will almost certainly join it this quarter. The Broadway muscial adaptation is already avalable on premium video-on-demand platforms like Prime Video and Apple TV for fans of the movie musical to rent or purchase digitially.
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.