Peacock, the streaming platform of US media giant NBCUniversal, added four million new subscribers to its customer base during the third financial quarter of 2023, to reach a total of 28 million.
In addition, the NBCU and Comcast service reported year-on-year revenue growth of 64%, to a total of $830 million during the quarter.
There were also reduced losses compared to the 2022 figures – $565 million compared to $614 million.
In total, Comcast had revenue of just over $30 billion, adjusted net income of $4.46 billion, and adjusted earnings before interest, taxation, depreciation, and amortization (EBITDA) of $9.96 billion. The conglomerate released its third-quarter financials yesterday (October 26).
These figures equate to a 0.9% revenue increase, an adjusted net income increase of 6.2%, and an adjusted EBITDA increase of 5.1%.
The content and experiences division, which houses Peacock, saw its EBITDA increase year-on-year by 6.5%, while the media sub-division saw a 0.4% increase in total revenue.
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The latter increase was attributed to “higher international networks and domestic distribution revenue,” for which more income through Peacock played a role.
Brian Roberts, Comcast Corporation’s chairman and chief executive, said: “We delivered strong financial results in the third quarter, while also investing in long-term growth, accelerating share repurchase activity, and maintaining our healthy balance sheet.
“Our strategic focus on innovation and financial discipline, facilitated by constant execution, positions us competitively both now and into the future.”
In terms of Peacock’s performance, Roberts said that Comcast had “materially improved Peacock paid subscriber and financial metrics compared to the prior year period as well as on a sequential basis.”
Peacock subscribers have access to a range of live sports including top-tier soccer, rugby, golf, NFL American football, baseball, and motor racing.