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Streaming service Peacock closed 2022 with more than 20 million paid subscribers, helping Comcast slip past Wall Street estimates during a challenging fourth quarter in the media business.
Total revenue came in at $30.55 billion in the period, less than 1% ahead of the prior-year quarter but just above analysts’ consensus. Earnings per share of 70 cents fell short of estimates, but exceeded them on an adjusted basis.
Along with Peacock, which added 5 million subscribers during the quarter, a strong return for theme parks helped NBCUniversal post a revenue increase of 6% to $9.9 billion. Advertising revenue rose 4%, which the company credited to Spanish-language coverage of the World Cup by Telemundo and an upswing in Peacock ad revenue. After launching in mid-2020, Peacock struggled to gain traction in the early going, hurt more than most new streaming players by Covid’s impact on live sports and original production. A strategic shift has also brought paid subscriptions center stage, a turn from the focus at launch on the free, ad-supported tier.
Via: Deadline
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