Streaming service Peacock ended 2022 with more than 20 million paying subscribers, beating Comcast’s media sector estimates in a challenging fourth quarter.
Total revenue for the period was $30.55 billion, up less than 1% from the year-ago quarter, but just above analyst consensus. Earnings per share of 70 cents missed estimates but beat them on a non-GAAP basis.
Alongside Peacock, strong returns for theme parks helped NBCUniversal post good numbers. Revenue rose 6% to $9.9 billion. Advertising revenue rose 4%, which the company attributed to Telemundo’s Spanish coverage of the World Cup and rising advertising revenue from Peacock.
The studio’s box office revenue was up 47% year-over-year Entry ticket to paradise, Cat
in boots: the last wish, violent night and Halloween ends end the year on a high note. The first window streaming rights for Universal theatrical titles on Peacock began in 2022 and helped accelerate the streaming service’s growth.
While Peacock’s revenue has tripled to $2.1 billion by 2022 and earned $660 million in the quarter, the financial pressure is also on to scale the service. The company recorded an adjusted EBITDA loss of $978 million related to Peacock, compared to $559 for the same period last year.
Theme park revenue increased 12% to $2.1 billion, which the company said was simply due to “increased attendance and guest spending” compared to Omicron’s 2021 success period.
Peacock’s growth was teased by NBCU CEO Jeff Shell during an appearance at a Wall Street media conference, even though it was up against 18 million subscribers in mid-December. Telemundo’s live coverage of the World Cup in Spanish, carried by Peacock, helped the streamer gain momentum through the end of the year. In that session, Shell also highlighted a key item on Comcast’s 2023 agenda: Getting clarity on the status of its Hulu stake. In a deal with Disney, Comcast could buy 30% of the streamer starting in about a year. “There is no indication that anything other than Disney writing us a big check is going to happen,” Shell said.
The loss of video subscribers continued at Comcast Cable, which lost 2 million video subscribers by 2022. During the quarter, 440,000 video subscribers disconnected. Excluding the impact of Hurricane Ian, total net broadband additions were 4,000, the company said.
Author: father Hayes
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
