Peacock loses more than 700 million dollars in the first quarter of 2023, the firm revealed on Thursday. The losses incurred because the NBCUniversal streaming service found it difficult to grow its subscriber base.
Peacock is a video streaming service owned and operated by the Television and Streaming division of NBCUniversal. It is a very young platform as it was launched in 2020.
The quarterly financial reports of the firms are rolling out, the loss of Peacock is prominent in the Q1 reports of NBCU’s parent company Comcast. Also revealed that the Peacock hit the 22 million subscribers mark in the first three months of 2023, up 60 percent from the last year.
The streaming service earns revenue of $685 million, below the adjusted EBITIDA loss of $704 million for the platform.
Brian Roberts, Chairman and CEO of NBCU parent Comcast, is expected to raise questions on his analyst call today regarding the recent firing of NBCU CEO Jeff Shell over a harassment claim.
Looking at the overall revenues of Comcast’s content and experiences division, it fell by 9.5 percent to $10.2 billions. The division includes NBCUniversal’s TV and streaming business, international networks and Sky Sports channels, and the film studios and theme parks.
