NBCU’s Q2 2021 report is here, and while Peacock is doing fine as a streaming service, NBC’s platform is falling behind in the Original content department.
Taking a look at the numbers, let’s start with the positives. Peacock’s US share of demand for on-platform content in Q2 2021 was 8.3% according to Parrot Analytics. That puts it in fifth place overall, and just above Paramount+ at 7.9%. Peacock is just and slightly behind HBO Max, which has 9.8%.
Hulu is the leader in terms of in-demand content holding 21.4%, and Netflix comes in second with 18%.
So Peacock’s performance is holding its own pretty well, but on the content front, it’s the NBC catalog in Peacock’s library that’s doing all the heavy lifting. Peacock’s most in-demand show by a landslide is Saturday Night Live. The comedy sketch show has been around for decades, so it has a cult following for a fanbase. Plus, there are 45 seasons all available on the platform, which means hundreds of hours of reruns. In addition, most of the older seasons from the 1970s and 80s are nearly impossible to find on DVD or anywhere else.
SNL has 55x more demand than any other show on Peacock, a huge margin compared to the second in-demand title. The next in line is The Voice, with 29x demand, followed by Law & Order: SVU and The Office with 28x and 27x demand.
But while Peacock’s back library is doing pretty well, its Originals aren’t panning out so great. In fact, its most popular Original isn’t Girls 5eva, Rutherford Falls, or A.P. Bio, it’s Curious George. That’s right, a children’s cartoon that’s no doubt watched on repeat by kids who love repetition. There’s something to be said for landing a children’s hit to put you on the most-watched list, CoComelon on Netflix is consistently in the streamer’s top 10.
But compared to how other streaming services are doing with their original content, Peacock’s Curious George and its next in-demand title, Rutherford Falls, falls at the very bottom of the list, below Paramount+ and Shudder. Netflix and Disney+ lead the list, both with exceptional ratings for Stranger Things and The Mandalorian.
To sum things up, churn happens when viewers feel like there’s nothing new or interesting to watch. So while legacy content on streaming services has proven to be a great initial draw as evidenced by shows like SNL and The Office on Peacock, it’s new Originals that will keep viewers coming back for more.