Peacock Reports $552 Million Loss Despite Reaching 44 Million Subscribers
Peacock, the streaming service owned by Comcast’s NBCUniversal, has reported a significant financial loss. The fourth-quarter loss reached $552 million, surpassing last year’s loss of $372 million. This downward trend is partially attributed to increased costs related to major sports events, including the NBA launch and exclusive NFL games.
Peacock Subscriber Growth
Despite the losses, Peacock has seen substantial growth in its subscriber base. The service now boasts 44 million paying subscribers, an increase from 41 million at the end of the previous quarter and up from 36 million a year ago. Comcast CFO Jason Armstrong remarked on the progress, indicating that Peacock has reached “meaningful scale.” He projected that losses would meaningfully improve by 2026 as the company adapts to a changing entertainment landscape.
Comcast Financial Overview
Comcast’s overall revenue for the quarter totaled $32.3 billion, slightly below the analyst forecast of $32.34 billion, but higher than $31.9 billion a year earlier. However, net income attributable to Comcast fell by 55% to $2.16 billion. Additionally, adjusted earnings per share (EPS) dropped 12.4% to 84 cents, slightly above the expected 76 cents.
- Total Revenue: $32.3 billion
- Net Income: $2.16 billion
- Adjusted EPS: 84 cents
Revenue Breakdown
Peacock contributed to Comcast’s total revenue of $1.6 billion, marking an increase from $1.3 billion year-over-year. However, revenue from Universal film studios declined by 7.4% to $3.02 billion, impacted by lower licensing and theatrical earnings. In contrast, theme park revenues surged by 22% to $2.9 billion, boosted by the recent opening of the Epic Universe in May 2025.
Challenges and Strategic Movements
Comcast continues to face challenges in its core cable and telecom distribution sector, losing 245,000 video customers and 181,000 broadband subscribers during the fourth quarter. This ongoing trend of cord-cutting presents significant obstacles for the company.
The company has also begun restructuring its cable networks, forming a new entity called Versant Media Group, which is led by CEO Mark Lazarus. Comcast says it is dedicated to enhancing its broadband and entertainment distribution services, particularly focusing on pricing and packaging strategies.
As industry consolidation continues, Comcast is taking a cautious approach. The company recently chose not to pursue a deal with Warner Bros. Discovery, emphasizing its commitment to shareholders and a long-term vision for growth.
