Peacock added 3 million subscribers in the quarter of its exclusive NFL playoff game. It now has 34 million subs, up from 31 million at the end of 2023.
Still, Peacock lost $639 million in the quarter. At least it wasn’t as bad as the last one!
Peacock had lost $825 million over the final three months of 2023. It lost $704 million in the first quarter of 2023.
Universal Pictures in the first quarter released “Argylle” and “Kung Fu Panda 4.” The latest in the Jack Black karate-bear movie series has done great: it made $481 million worldwide. “Argylle” didn’t even make $100 million.
With the first-ever streaming-exclusive NFL playoff game, Peacock added 3 million new paid signups. It was the biggest acquisition moment in SVOD history, and January 13, 2024 was the biggest usage day in internet history. In March, research from Antenna found that an impressive 71 percent (2.13 million) of them were still around by the end of February, nearly seven weeks after the game. It seems that one event made up for about two-thirds of Peacock’s overall subscriber growth in the quarter.
Non-sports highlights for Peacock included “Apples Never Fall,” “The Traitors,” and the “Ted” series.
NBCUniversal management has not yet announced when they expect Peacock will be profitable. Here’s what Comcast chief Brian L. Roberts had to say about the quarter in general: “Our team is continuing to execute exceptionally well in a dynamic and competitive marketplace. We delivered double-digit growth in Adjusted EPS and free cash flow while returning $3.6 billion to shareholders, investing aggressively in our businesses, and maintaining our strong balance sheet. We grew broadband ARPU over 4%, delivered 7% revenue growth in our connectivity businesses, and expanded our Adjusted EBITDA margin across Connectivity & Platforms. In Studios, following a record year with eight Oscars including Best Picture, our film group continues to leverage our incredible IP with hits like Kung Fu Panda 4; and Peacock remains one of the fastest growing domestic streamers with impressive acquisition, retention and engagement trends. Overall, I am proud of our ability to consistently perform at the highest levels and continue to position the company for long-term growth.”
More to come…
