Peacock Narrows Loss to $215M, Subscribers Jump to 41M

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As a dedicated fan, I’m excited to share that, under the leadership of Chairman and CEO Brian Roberts, Comcast recently disclosed their Q1 financials for their entertainment division and various other operations.

NBCUniversal’s streaming platform, Peacock (which is owned by Comcast), reduced its loss to $215 million, compared to a loss of $639 million during the same period last year. Overall revenue for the service climbed by 16% to reach $1.2 billion. As of March 2024, Peacock boasted 41 million subscribers who were paying for their service, which is an increase from 36 million during the final quarter of 2024 and the preceding third quarter of 2024.

In the first quarter of this year, the media group announced overall revenues of approximately $29.8 billion, which is slightly lower than the same period last year’s $30.05 billion. However, the adjusted EBITDA for the media division increased to an impressive $9.5 billion. Comcast surpassed expectations by generating $29.68 billion in revenues during the first quarter. The net income attributed to Comcast was $3.37 billion, marking a decrease of 12.5% compared to last year’s $3.85 billion. Despite this dip, the adjusted earnings per-share rose by 4.5%, reaching $1.09.

In simpler terms, the total income from content and experiences, which includes the company’s media and entertainment sectors, increased by nearly 1% to reach approximately $10.45 billion. The studio segment of NBCUniversal experienced a 3% rise in revenue, amounting to $2.82 billion. This increase was due to higher earnings from content licensing that compensated for lower box office returns. Furthermore, the studio division’s profit before interest, taxes, depreciation, and amortization (EBITDA) significantly improved in the first quarter, rising from $244 million to $298 million compared to the previous year. The studio division benefited from continued success at the box office during the latest quarter from movies like “Wicked” and “Nosferatu.”

NBCUniversal’s theme park earnings dropped by 5% to reach $1.87 billion due to reduced attendance caused by the recent wildfires in Los Angeles. Their Universal Epic Universe attraction, scheduled to open in Florida this May, aims to boost these numbers. For the media division encompassing NBCUniversal, quarterly revenue increased slightly by 1.1% to $6.44 billion. Notably, the EBITIDA experienced a more significant rise of 21.5%, reaching $1 billion.

In the Connectivity & Platforms sector, the overall revenue increased slightly by 0.7%, reaching $20.1 billion. However, the total number of customers dropped by approximately 228,000 to 51.4 million. In the Broadband division, our cable company experienced a more significant loss of 199,000 domestic subscribers than the projected 144,173, and this figure is higher than the 65,000 customers lost in Q1 of 2024.

Comcast added approximately 323 thousand new domestic mobile service subscriptions in this period, an increase from the 289 thousand customers gained last year. However, the company also saw a decline in video subscribers, losing around 427 thousand customers during the recent quarter. This is a decrease compared to the 487 thousand customers lost during Q1 of 2024, indicating continued strain on the cable package offerings.

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2025-04-24 14:54