Peaco*ck is closing out 2023 with some good news: The Comcast-owned streaming service has reached 30 million paid subscribers.
Additionally, according to Comcast CEO Mike Cavanagh, the platform saw $2.8 billion in losses this year (coming in under the $3 billion projected by the company back in January), and Cavanagh expects that figure to be the peak loss for Peaco*ck heading into 2024.
Cavanagh boasted about Peaco*ck’s growth over its first three years during the UBS Global Media and Communications conference Monday, saying: “To be at 30 million paying subscribers for Peaco*ck now, switching gears to that, at roughly $10 monthly ARPU, and having done that in only three years.”
Most recently, Comcast reported that Peaco*ck had topped 28 million paid subscribers as of the end of Q3, which was revealed during their quarterly financial report in late October.
“We’re focused on domestic, we can take the content that doesn’t go into Peaco*ck and monetize it outside of the United States,” Cavanagh said Monday. “I think for us, that’s not the ambition, we’ll figure out how to make sure our international joint ventures and partnerships and the like solve the problem of what it means not to have a global service of our own, and that can change over time. But our primary focus is figure out domestic and make sure that we continue to have the reach and relevance between linear and digital as we look several years down the road. I think that will set us up for plenty of good, both sustainability of what we currently are, which is a pretty powerful thing, and good optionality for the future. And I think the fact that when you roll it all together, we make money. We disclose what we ‘lose’ in Peaco*ck for clarity, and it’s going to peak this year at $2.8 billion of losses. But don’t forget the counter narrative of, what would it all look like if we weren’t trying at Peaco*ck? You’d be asking a different set of questions, which is where are the linear businesses going if you’re not trying to figure out a future for the powerful platforms you have?”
When it comes to potential M&A opportunities for Comcast and its NBCUniversal assets, Cavanagh says “the bar is really high.” “I really like the organic hand we have against all the businesses that are the growth businesses we have, we don’t need to do anything inorganic acquisition-wise to make any of what I described happen.”
VIP+ Analysis: How Peaco*ck Could Win in Streaming After All
FAQs
Additionally, according to Comcast CEO Mike Cavanagh, the platform saw $2.8 billion in losses this year (coming in under the $3 billion projected by the company back in January), and Cavanagh expects that figure to be the peak loss for Peaco*ck heading into 2024.
How much money did Peaco*ck lose in 2023? ›
As streaming profits, which have so far been elusive for most industry giants, remain in focus for Wall Street, Peaco*ck previously posted a full-year 2023 loss of $2.75 billion.
Why is Peaco*ck losing so much money? ›
Peaco*ck is seemingly having some financial issues after losing millions. The streaming wars have been on for years now, with a number of different services competing for subscribers and viewers.
How is Peaco*ck doing financially? ›
Peaco*ck is the fastest-growing streaming service in the U.S. Peaco*ck had lost $978 million in Q4 of 2022. The streaming platform lost $565 million in 2023's summer quarter, an improvement over prior quarters. There was a big bright spot for the streamer in early 2024.
Did Peaco*ck lose money on the NFL? ›
But it gained 3 million subscribers, thanks in large part to the first-ever streaming-exclusive NFL playoff game.
Is Peaco*ck going to stay free? ›
However, members who signed up for the free plan before February 2023 can still access select content without paying for a subscription. Peaco*ck's free plan has around 10,000 hours of ad-supported movies and TV shows, but you can get access to a lot more by upgrading to a Peaco*ck Premium plan.
Who owns Peaco*ck? ›
What is the Peaco*ck TV controversy? ›
Peaco*ck's exclusive stream for Dolphins-Chiefs playoff game draws ire from players, fans. The NFL and NBCUniversal are drawing the ire of pro football fans and even one player because of a controversial streaming-only broadcast of Saturday night's Dolphins-Chiefs playoff opener.
Why is Peaco*ck so unstable? ›
One of the most common causes of buffering on Peaco*ck TV is a slow internet connection. Peaco*ck TV requires a minimum internet speed of 3.0 Mbps for standard streaming and at least 8.0 Mbps for high-definition streaming. Insufficient bandwidth can result in delays in data transmission, leading to buffering.
Which streaming services are losing money? ›
The number of Disney+ subscribers has fallen from a high of 164.2 million in September 2022 to 149.6 million at the end of last year whereas Netflix has almost double that at 260 million. Meanwhile, Disney's streaming losses ballooned driving down its stock price by more than 40% from its peak of $201.91 in March 2021.
Peaco*ck had 31 million subscribers at the end of 2023.
During Comcast (CMCSA)'s fourth-quarter earnings call today (Jan. 25), CEO Brian Roberts boasted the success of Peaco*ck, the streaming service under Comcast's NBCUniversal, calling it “the fastest-growing streamer in the U.S.” in the past quarter ended December.
Is Peaco*ck going to charge? ›
Peaco*ck TV prices and plans
As of 2023, Peaco*ck TV costs have two tiers: Peaco*ck Premium (ads) at $5.99 per month and Peaco*ck Premium Plus (ad-free) at $11.99 per month.
How is Peaco*ck streaming doing? ›
Peaco*ck Tops 30 Million Subs, Streaming Loss to Peak at $2.8 Billion.
How much money has Peaco*ck lost? ›
Peaco*ck lost $825 million over the final three months of 2023. It lost $704 million in the first quarter of 2023 — so the current loss is technically an improvement from the comparable quarters. It certainly helps when revenue grows, as Peaco*ck's did, to $1.1 billion in the first quarter of the current year.
Was Peaco*ck NFL successful? ›
It was the single largest live streamed event in US broadcasting history, with independent figures suggesting it attracted 2.8 million new subscribers to the platform.
Why did the NFL allow Peaco*ck? ›
For the NFL, the math is pretty obvious - branching out to streaming means money. According to reports, Amazon paid roughly a billion dollars a year to be the home of Thursday night football. Peaco*ck reportedly paid $110 million for that one NFL playoff game.
Is Peaco*ck streaming a success? ›
Peaco*ck had 31 million subscribers at the end of 2023.
During Comcast (CMCSA)'s fourth-quarter earnings call today (Jan. 25), CEO Brian Roberts boasted the success of Peaco*ck, the streaming service under Comcast's NBCUniversal, calling it “the fastest-growing streamer in the U.S.” in the past quarter ended December.
How well is Peaco*ck doing? ›
Overall, Peaco*ck made a loss of around $2.75 billion in 2023, down from $3 billion previously. On this front, Armstrong said that in terms of losses, 2023 marked the high point for Peaco*ck, “and for 2024 we expect to show meaningful improvements in losses.”
How is Peaco*ck performing? ›
The company announced on April 26 during its Q1 2024 earnings call that revenue for Peaco*ck rose 54% in the quarter versus last year and gained 3 million subscribers in the quarter. That puts the Peaco*ck subscriber count to 34 million, marking about at 10% increase in subscribers in the month.
