The 2024 Summer Olympics in Paris significantly boosted Peacock, marking a key moment in the streaming platform’s growth. As the first Olympics fully streamed live in the United States on Peacock, the Games highlighted the power of sports to drive subscriptions in the crowded streaming landscape.
According to recent data from Antenna, Peacock experienced a dramatic increase in sign-ups during the first week of the Olympics, with nearly 2.8 million new subscribers joining the platform between July 25 and July 31. This surge represents a six-fold increase in daily sign-ups compared to the eight-week average before the Games, positioning the Olympics as one of Peacock’s most successful acquisition events to date.
Traditionally, major sporting events like the NFL’s AFC Wild Card Weekend have been the primary drivers of new subscribers for streaming platforms. Earlier this year, Peacock saw 3 million sign-ups during the Wild Card games, underscoring the NFL’s influence on streaming habits. However, the Olympics, with its extended schedule and diverse range of events, presented a different kind of opportunity for subscriber growth, sustaining interest over a longer period.
Peacock’s share of the premium SVOD market also saw a notable increase, capturing 29% of all new subscriptions in July, well above its typical monthly share. This gain reflects the platform’s ability to capitalize on the unique appeal of the Olympics, which drew in viewers not just for marquee events but also for the continuous stream of competitions across multiple sports.
As the Olympics wrapped up on August 11, industry watchers are now focused on how well Peacock can retain these new subscribers. Antenna’s data suggests that while sports events are effective at driving sign-ups, keeping these subscribers engaged post-event can be challenging. For instance, retention from the NFL’s Wild Card weekend was slightly below average, hinting at a possible trend that Peacock may need to address in the coming months.
The success of the Paris 2024 Olympics on Peacock could signal a broader shift in how live sports content is leveraged by streaming services. With other platforms like Paramount+ and Amazon Prime Video also investing heavily in sports, the competition for sports viewers is likely to intensify. Peacock’s performance during the Olympics demonstrates the growing importance of live sports in attracting and retaining subscribers in the increasingly competitive SVOD market.