Comcast’s fourth-quarter earnings report revealed that Peacock, its streaming platform, maintained its subscriber base of 36 million, despite analysts’ expectations of a slight increase. The number is similar to the end-of-year total in 2023 and remains static compared to the quarter ending September 30.
In the same period, Peacock gained approximately 3 million new subscribers during the Paris Summer Games, but this growth has slowed. The platform posted $436 million in losses for the year, with a more significant improvement in Q4, reaching $372 million.
Comcast’s total revenue improved 28% to $1.3 billion in the final quarter and 49% to $4.9 billion for the full year. However, shares of Comcast declined 11% at $33.25 due to disappointing earnings.
The company’s president, Mike Cavanagh, acknowledged that NBC Sports’ new NBA rights deal will likely lead to another price increase at Peacock. A rate hike is expected after the first season with the league, which will conclude in mid-2026.
Comcast expects ad sales for Peacock to surge due to the addition of high-value content from the NBA partnership. The company has yet to issue guidance on when it expects Peacock to become profitable.
In the pay-TV sector, Comcast lost 1.58 million domestic video subscribers in 2024, bringing its cable base down to 12.5 million households. This marks an 11% drop compared to the year-ago period and a 22% decline from 2022.
The company also experienced significant losses in broadband customers, with 139,000 domestic subscribers departing during the quarter. Despite these losses, Comcast’s connectivity and platforms unit reported $20.5 billion in revenue, resulting in a $46 million gain.
Source: https://www.sportico.com/business/media/2025/cable-losses-peacock-headwinds-ruffle-comcast-feathers-1234826052