NBCUniversal’s Peacock announced that it has nearly reached 22 million sign-ups. The figures were revealed in Thursday’s third-quarter 2020 financials. Seven million subscriptions were added as a result of an app distribution agreement with Roku in Mid-September.“We are exceeding our expectations on all engagement metrics in only a few months,” Brian Roberts, CEO of parent Comcast Corp., said.
Comcast revealed that its consumer demand for high-speed internet spiked during Q3 despite the decrease in revenue from theme parks, which dropped 80%, while theatrical revenue dropped 95% and home entertainment sales increased nearly 50%. The total revenue was $25.5 billion, down 4.8% but ahead of expectations. Adjusted earnings per share came in at $0.65 a share. Net income was $2 billion, or $$ 0.44. Revenue at NBCUniversal fell about 19% to $6.7 billion in the quarter, with its adjusted EBITDA dropping by 39% to $1.3 billion.
Comcast accumulated 633,000 high-speed Internet customers throughout the quarter and 556,000 total net new customers. The subscriber growth continues to offset ongoing declines in Comcast’s legacy cable business. The segment saw another steep drop in pay-TV subs, losing 273,000 subs in the quarter, widening almost 14% from a loss of 222,000 subs in the previous-year period. Through nine months of the fiscal year, Comcast Cable garnered19.2 million subs, a 1.2 million decrease from last year. “As we emerge from the pandemic, we believe we are extremely well-positioned to provide a integrated experiences for our customers and to deliver long-term growth and returns for our shareholders,” Roberts said.
Roberts confirmed that Peacock’s AVOD component and NBCUniversal annual content spend has helped attract new customers. The Peacock ad-supported service first became available to Comcast and Cox customers on 15th April, three before its full launch on 15th July. Like HBO Max, Peacock is still not available on Amazon Fire TV devices. "We’re growing our entertainment platforms with the addition of Flex, for broadband-only subscribers, which has a significant positive impact on broadband churn and customer lifetime value," Roberts said.