NBCU quarterly revenue rises due to revenue growth at Beijing Olympics, peacock loss hits $456 million

Peacock, Comcast’s NBCUniversal streaming service, took a bigger loss, but overall NBCU revenue increased, Comcast revealed in its first-quarter earnings report Thursday.

Media results include $472 million in revenue and $456 million in adjusted EBITDA loss related to Peacock, including the 2022 Beijing Olympics and NFL Super Bowl, compared to $91 million in revenue and loss. adjusted EBITDA of US$ 277 million. “During the period of the previous year”, says the company.

The media, entertainment and technology conglomerate did not immediately share the update on Peacock’s registration or monthly active users.

As of the first quarter of 2021, Peacock’s financial results, previously reported in the corporate and other segments, are included in the results of NBCUniversal, led by CEO Jeff Shelley. The company’s update on Thursday revealed that its adjusted first-quarter loss in interest, taxes, depreciation and amortization at Peacock was $456 million.

Comcast also released NBCU’s adjusted first-quarter earnings on interest, taxes, depreciation (EBITDA), which increased 7.4%, and other results, as well as financial and subscriber trends across its flagship cable systems, where users pay-TV have dropped even further. And its European pay-TV company Sky.

Comcast is led by Chairman and CEO Brian Roberts, who presented the company’s latest results and overall momentum. “Our media business is doing well and the scale of our achievement is underscored by the successful broadcast of the Super Bowl and the Olympics in the same week,” he said. “More than 200 million people in the United States watched these events on NBCUniversal platforms, including Peacock, which had a special quarter.”