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Peacock added 4 million paid subscribers in Q1, up ~40% from last quarter –

Comcast parent company reports on NBCUniversal’s Q1 2022 income On Thursday, noting its new streaming service, Peacock, it ended the first quarter of 2022 with 28 million active accounts per month, from 24.5 million Comcast reported on the site by the end of 2021. Of these, 13 million are paying their subscribers, up from 9 million a quarter ago.

“We have added 4 million paid subscribers to complete the first quarter… We have seen a 25% increase in operating hours throughout the year,” Comcast CEO and chairman Brian Roberts said. he said. “Given the natural flow and the flow of our content text, we do not expect to see this kind of growth every quarter.

“We expect a lot of customer benefits until we reach the end of this year. Our fourth quarter should be spectacular, with sporting events such as Sunday Night Football, the Premier League, and the World Cup,” he added.

While Comcast executives do not expect growth to accelerate, the final quarter of 2022 will be another significant season for streaming services since the fledgling service will be the hub of the 18 MLB game in May. . Also, NBC shows It will move from Hulu to Peacock, which will be the new home for the fall this fall.

In comparison, Netflix lost 200,000 subscribers in the first quarter. For a veteran platform to deal with such losses when a young competitor rises to prominence is very popular. Due to live sporting events, Peacock and other swimmers capture the attention of sports fans. If Netflix continues to ignore this strategy, registration numbers are likely to continue to stall.

In the last three months, NBCU has revealed that Peacock ended up with 2021 million subscribers. During Revenue Q4 Comcast call Last January, Roberts said that, at that time, many of Peacock’s $ 24.5 million monthly accounts chose to sign up for the $ 5 level supported by ads above the $ 10 free ad level.

Comcast research has shown that 80% Customers prefer an ad-supported service rather than paying a high price without advertising. Almost all major viewing services have explored the possibility of subscription plans supported by ads – the latest streams are Netflix and Disney +. Since Peacock added this cheaper offer, it has seen a lot of growth.

NBCUniversal’s EBITA (pre-interest earnings, taxes, depreciation, and amortization) rose 7.4% to $ 1.6 billion. Despite this, Peacock’s net worth was $ 456 million and his revenue was $ 472 million. In comparison, there was a $ 277 million loss a year ago with a net worth of $ 91 million.

Peacock’s quarterly performance losses were the result of high programming and production costs associated with the Super Bowl and the Olympics, as well as a return to its previous schedule, Comcast said. The Super Bowl and Olympic Games brought in huge revenue, bringing in $ 519 million and $ 963 million, respectively.

“Our media business is going well, and the extent to which we have achieved is underscored by our successful broadcasts of the Super Bowl and the Olympics this week. These events have been watched by more than 200 million people across the United States across NBCUniversal, including Peacock, ”Roberts said.

During a call Thursday for Q1 investor Michael Cavanagh, Comcast’s Chief Financial Officer, he said, “We continue to expect Peacock’s EBITA losses to be around $ 2.5 billion a year. However, considering the start time. … Content… We expect losses to be high in the second half of the year. “

In other news, cable companies Comcast and Charter announced yesterday that they are working together to build a viewing platform. The Charter project “demonstrates the benefits of focusing on innovation and enables us to bring a combination of entertainment and streaming content from the global technology platform to millions of additional customers,” Roberts said.