2 min read Sydney’s famous ‘gaybourhood’ streets are set to come alive with street dining, free performances and celebrations at Sydney WorldPride’s festival hub, Pride Villages.
NBCUniversal And Comcast Execs “More Confident” Than They Were A Year Ago In Peacock Profit Outlook, Jeff Shell Says
26.01.2023 - 19:19 / deadline.com
NBCUniversal CEO Jeff Shell said execs at the company and parent Comcast are “more confident” than they were a year or two ago that investments in streaming service Peacock will soon yield profits. How soon remains a bit unclear, however.
“We’ve been clear from the start that we’re going to see a return on that investment — I think we feel better about that now based on where we are,” Shell said during Comcast’s fourth-quarter earnings call.
The company said Peacock had passed 20 million subscribers by the end of 2022, more than double its size at the start of the year. It added 5 million subscribers in the quarter thanks to Spanish-language World Cup coverage as well as original programming, other live sports and the addition of first-window movie titles and NBC and Bravo series that used to go to Hulu.
Over the rest of the year, CEO Brian Roberts said, “subscriber cadence will follow content launches, which will fall more heavily in the second half of 2023” than in the first half. President Mike Cavanagh, who recently was promoted from his previous CFO post, said losses at Peacock will rise to $3 billion this year from $2.5 billion in 2022. He reiterated previous guidance that the $3 billion level will represent “peak losses” for Peacock.
Asked directly about when break-even will officially be achieved at Peacock, Cavanagh and Shell did not answer or reaffirm any past outlook. Unlike rival players like Disney and Warner Bros Discovery, NBCU and Comcast have never revised the projections they offered investors before they entered the streaming arena. In early 2020, they projected reaching 30 million to 35 million active accounts by 2025 and break-even by 2024, with revenue of $2.5 billion. By 2022, revenue was already
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