Copyright The Hollywood Reporter
Peacock, the streaming service of Comcast’s entertainment unit NBCUniversal, lowered its third-quarter loss to $217 million compared with $436 million in the year-ago period. The streamer, whose new programming in the latest period included The Paper and M3GAN 2.0, ended September with 41 million paying subscribers, steady compared with the end of June and 36.0 million a year ago, the company said on Thursday. Peacock revenue dropped slightly to $1.4 billion in the third quarter, compared with $1.5 billion in the year-ago period, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improving. In the second quarter, the streamer had lost $101 million. The planned Versant transaction, which will separate most of the conglomerate’s cable networks from the rest of its operations, cost Comcast money again in the three months ended Sept. 30, the company disclosed. Comcast will retain NBCUniversal’s Peacock, the NBC broadcast network, the Bravo cable channel, and the studios in the separation, while the rest of the cable brands, along with such digital assets as Golf Now and Rotten Tomatoes, will form Versant. Comcast is run by chairman and CEO Brian Roberts and president Michael Cavanagh, who will in the new year be elevated to the role of co-CEO. In the core cable systems business, total domestic broadband customer net losses were 104,000, total domestic wireless line net additions were 414,000 and total domestic video customer net losses were 257,000. “In Content & Experiences, we’re building momentum across NBC and Peacock as we head into one of the most exciting stretches of live sports in our history, including robust NBA coverage which just began last week,” Roberts said. “The early success of Epic Universe contributed to 19% revenue growth at our Theme Parks, reflecting the strength of our newest attractions and the enduring appeal of the Universal brand.”
