Peacock has been the home to a lot of beloved web series and movies on streaming platforms. Previous stats indicated that the platform needed improvement and as the third quarter’s report hits the market, it indeed looks much better.
The best aspect of the statistics lies in the subscriber count of the platform. Peacock added 4 million more subscribers to their paid category, which is a breath of fresh air. The tally went up from 24 million to a whopping 28 million. Now, that clearly changes their earnings dynamics.
In terms of earnings, it reported a healthy revenue of $830 million, a 64% rise from a year earlier. Though that number looks good on paper, it doesn’t fully reflect the statistics of their EBITDA loss.
Peacock currently registers a loss of $565 million, which is way better than their past track record. Peacock projected a $3 billion loss in streaming for 2023. As of nine months in, Peacock’s losses are just under $2 billion, with $651 million from April to June and $704 million from January to March.
Meanwhile, NBCUniversal’s studio division faced challenges, with a 22% EBITDA decline to $429 million and a 23.6% drop in revenue to $2.5 billion. This was mainly due to reduced income from content licensing and theatrical releases.
Despite this, Christopher Nolan’s film “Oppenheimer” performed well, grossing over $900 million globally. The studio’s overall theatrical revenue fell by 25% to $504 million, attributed to higher earnings in the previous year from films like “Minions: The Rise of Gru” and “Jurassic World: Dominion”.
NBCU’s media unit showed resilience, with a slight 0.4% increase in revenue, reaching $6 billion compared to the previous year. Their adjusted EBITDA profit also saw a healthy 6.5% rise, totaling $7.23 million. However, domestic advertising experienced an 8.4% decrease, amounting to $1.91 billion, while domestic distribution revenues saw a positive 3.8% uptick, totaling $2.5 billion.