Today, Comcast announced its 3rd quarter 2023 earnings report that showed it once again losing over 490,000 TV customers. Comcast did report that Peacock added 4 million new subscribers but lost $565 million. In total, Peacock now has 28 million subscribers.
“We delivered strong financial results in the third quarter, while also investing in long-term growth, accelerating share repurchase activity and maintaining our healthy balance sheet,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. “Our strategic focus on innovation and financial discipline facilitated by consistent execution positions us competitively both now and into the future. Among the many highlights from across the company, we delivered another quarter of double-digit Adjusted EPS growth, continued to generate solid revenue growth in our connectivity businesses and expanded our Adjusted EBITDA margin at Connectivity & Platforms. We also reported the highest Adjusted EBITDA on record at Theme Parks; drove Oppenheimer to more than $900 million in worldwide box office – becoming the highest grossing biopic of all time; and materially improved Peacock paid subscriber and financial metrics compared to the prior year period as well as on a sequential basis.”
Comcast did say advertising revenue was up at Peacock, helping offset an overall drop in advertising revenue primarily due to lower revenue at its networks.
These numbers include Peacock’s new Big Ten sports package deal now includes exclusive rights to a select number of Big Ten football and basketball games. This is helping to attract additional subscribers who want to see their team play.