Peacock actually lost 1 million subscribers from April to June, Comcast reported on Tuesday as part of its second-quarter 2024 earnings . It now has 33 million subs. And it still isn’t making money.
The streamer lost $348 million in Q2, an improvement over the first quarter’s $639 million loss . NBCUniversal, a subsidiary of Comcast, has not yet set a target for Peacock to turn a profit. Even the three (yes, three) CEOs at Paramount Global have set an expectation of profitability for their core streaming service, Paramount+ (it’s 2025).
Peacock posted revenue of $1.0 billion for this past quarter. Comcast’s main revenue stream remains its broadband business.
All told, Comcast reported earnings of $1 per share on $29.688 billion in revenue. Wall Street expected $1.
12 of earnings per share on $30.02 billion in revenue, so that’s a miss. Shares in Comcast (CMCSA on the NASDAQ) closed Monday’s regular trading day (4 p.
m. ET) at $39.53 apiece.
Peacock is gearing up for a strong summer. The Paris Olympics begin on Friday, July 26 and end 16 days later on Sunday, August 11. Peacock was supposed to launch with the 2020 Summer Olympics, but COVID had other plans.
Those games were postponed until the summer of 2021. Universal Pictures released “The Fall Guy,” starring Ryan Gosling and Emily Blunt, on May 3. The studio likely lost money on that one.
“Kung Fu Panda 4,” released on March 8, made a lot of money — the box office haul was split between the first and sec.