Comcast's domestic streaming service, Peacock, saw a substantial improvement in its financial performance during the first quarter of 2024. The company announced that its losses narrowed significantly to $215 million, a dramatic decrease from the $639 million reported in the same period of the previous year. This positive trend is coupled with impressive subscriber growth.
As of March 2024, Peacock boasted 41 million subscribers, representing a noteworthy increase of 5 million compared to the December 2023 quarter. This growth underscores the increasing popularity of the streaming platform and its ability to attract and retain viewers. Comcast, the parent company, reported overall first-quarter revenues of $29.8 billion, a slight dip from the $30.05 billion recorded in Q1 2023. However, the media division experienced revenue growth, primarily driven by higher international networks revenue, which is largely attributed to the distribution of sports networks.
The "Corporate and Other" segment, encompassing Sky operations in Germany, showed a 3.4% growth, reaching $767 million. However, a precise breakdown of Sky's performance is unavailable due to its consolidation with other business units, including the Philadelphia Flyers and the Wells Fargo Center. The report does not provide individual performance figures for Sky any longer.