As a dedicated cinephile who has followed the streaming landscape closely for years, I find NBCUniversal’s announcement of Peacock losing 500,000 subscribers in Q2 and the subsequent price hikes disheartening. I have been closely monitoring the growth of various streaming platforms and have witnessed the dynamics of the market firsthand.
In the second quarter, Peacock, NBCUniversal’s streaming service, lost approximately 500,000 customers and went from having 33.5 million to 33 million paid subscribers.
The decrease in earnings for Comcast’s second quarter, announced on Tuesday, occurs during a time of price increases at Peacock and prior to NBCUniversal’s major push for programming during the Paris Olympics.
As a movie buff putting things in my own words: I was excitedly checking out Comcast’s Q1 report for April when I came across the number of paid Peacock subscribers – an impressive 34 million. But then, reps from the company reached out to me at EbMaster with some clarification. They shared that the initial figure was actually a rounded up version of the actual number: a slightly smaller but still significant 33.5 million paid Peacock subscribers.
Comcast reported a loss of $348 million from Peacock during the second quarter of 2024, contrasting with a loss of $651 million in the previous year’s second quarter. Meanwhile, revenue for this streaming platform grew by 28% compared to the same period the previous year, reaching one billion dollars.
Starting next mid-July, I’ll have to shell out an extra two bucks each month for Peacock Premium with ads, making it $7.99 instead of $5.99. And if I want an ad-free experience with Peacock Premium Plus, I’ll need to pay $13.99 per month, which is a $2 increase from the current price. Annual subscriptions are also going up: Peacock Premium will cost me $79.99 instead of $59.99, and Peacock Premium Plus will be $139.99 instead of $119.99. So, it looks like my monthly movie-watching budget is going to take a hit.
Starting July 18, new Peacock customers will be charged the new prices. For existing subscribers, the price change will apply from their billing dates on or after August 17. (This is earlier than the summer games in Paris which begin on July 26.)
On Tuesday, Comcast announced a 7.5% decrease in net income for the media company during the second quarter, which amounted to around $3.93 billion, or $1 per share. This is down from $4.25 billion, or $1.02 per share, reported during the same period last year. EBITDA also saw a decline of approximately 1%, totaling $10.17 billion.
In a letter to investors, Comcast CEO Brian Roberts announced that the Media division of the company experienced earnings growth in adjusted terms. This significant increase was primarily attributed to the success of Peacock, which marked the most impressive year-on-year improvement for any quarter since its debut in 2020.
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2024-07-23 16:46