Peacock Narrows Loss to $215M, Subscribers Bounce to 41M

Comcast, led via chairman and CEO Brian Roberts, reported first-quarter effects for its leisure unit and different operations.

Peacock, the NBCUniversal streamer beneath father or mother Comcast, narrowed its loss to $215 million, from $639 million within the year-ago length, and general income rose 16 % to $1.2 billion. Peacock ended March 2025 with 41 million paying subscribers after taking in new Constitution Communications subscribers, when put next with 36 million for the year-end 2024 quarter and the former 3rd quarter of 2024.

Comcast president Mike Cavanagh right through a morning analyst name didn’t make predictions concerning the profitability for Peacock for the remainder of 2025, however added, “I do be expecting Peacock to be on a unbroken pattern of riding in opposition to stepped forward monetization, larger scale and subsequently declining losses over the years.”

The media conglomerate reported first quarter general revenues at $29.8 billion, in comparison to a year-earlier $30.05 billion. Adjusted EBITDA for the media department rose to $9.5 billion. Comcast beat on a consensus estimate for revenues at $29.68 billion for the primary quarter. Web source of revenue resulting from Comcast got here to $3.37 billion, down 12.5 % from a year-earlier $3.85 billion, and the adjusted profits per-share rose 4.5 % to $1.09.

Towards that profits efficiency, Cavanagh warned analysts about recessionary winds threatening at the horizon amid a murky U.S. financial outlook. “Whilst we don’t see any noteworthy proof of monetary demanding situations for the 12 months to this point, the chances have greater that demanding situations is also coming near, however we’re smartly located to care for no matter lies forward,” he stated after 1 / 4 the place NBCUniversal noticed video promoting income declines heading into the 2025 TV Prematurely season amid marketplace uncertainty.

Earnings for content material and reviews, or the conglomerate’s media and leisure companies, edged up slightly below 1 % to $10.45 billion. NBCUniversal’s studios’ unit income rose 3 % to $2.82 billion, as upper content material licensing income offset decrease theatrical income. And the unit’s profits earlier than pastime, taxes, depreciation and amortization (EBITDA) jumped within the first quarter to $298 million, in comparison to a year-earlier $244 million.

The studios department noticed sturdy field workplace elevate over right through the most recent quarter from Depraved and Nosferatu, and has How To Educate Your Dragon and Jurassic International launching on the multiplex within the coming months.

NBCUniversal’s theme parks income fell 5 % to $1.87 billion as the new Los Angeles wildfires resulted in decrease attendance. The department, which Cavanagh stated used to be on “an improbable expansion trajectory,” will see Common Epic Universe enchantment open in Florida in Would possibly.

Requested about any affect on theme park attendance from ongoing drops in global commute to the U.S. amid President Donald Trump’s international price lists struggle and a worsening in global sentiment to the U.S., Cavanagh stated no fallout had but been noticed within the run as much as the hole of Epic Universe. “At the moment, what we see is sustained balance within the backdrop for parks,” Cavanagh stated, whilst conceding there is also a lag in slowing airline site visitors to the U.S. from global markets like Canada and Europe and long term affects on theme park attendance.

Quarterly income for the media unit, which incorporates NBCUniversal, rose 1.1 % to $$6.44 billion, whilst the EBITIDA jumped 21.5 % to $1 billion. For the connectivity & platforms department, general income rose .7 % to $20.1 billion. However the overall buyer base fell via 228,000 to 51.4 million.

Within the broadband department, the cable massive misplaced 199,000 home subscribers, a larger decline than the 144,173 subscriber loss projected, and a steeper decline than the lack of 65,000 shoppers within the first quarter of 2024. Comcast signed up 323,000 new home wi-fi strains, up from the 289,000 subscribers added closing 12 months.

The conglomerate additionally persevered to lose video subscribers, with buyer losses of 427,000 right through the most recent quarter, which compares to 487,000 misplaced right through the primary quarter of 2024, because the cable package continues to come back beneath drive.

Amid the struggles of conventional cable TV round cord-cutting and the ascent of streaming, Comcast has unveiled plans to by-product maximum of its cable networks, most probably in overdue 2025, to incorporate USA Networks, CNBC and MSNBC put right into a separate entity. Cable channel Bravo, the NBC broadcast community and Peacock will stay a part of NBCUniversal.

Comcast’s Cavanagh advised analysts projects to revive fortunes for the broadband and different connectivity companies have been expanding. “On this intensely aggressive setting, we don’t seem to be profitable available on the market this is commensurate with the power of the community and connectivity merchandise that I simply described,” he insisted, whilst including it could take “a number of quarters” for restoration efforts to realize traction.

That theme used to be echoed via Comcast CEO Roberts, who advised analysts: “We’re obviously going through some demanding situations. However … with numerous pastime, the group has a way of urgency and effort and focal point to getting buyer ache issues resolved.”

“I in point of fact like our technique, our stability sheet power, without reference to international uncertainty. I believe we have now an implausible and distinctive corporate, and I’m fairly positive,” Roberts stated when concluding his remarks to analysts.

Author: OpenAI