Peacock streaming service finally turns a profit as Comcast moves to spin off NBCUniversal

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Set us as preferred Peacock, NBCUniversal’s streaming service, reached profitability for the first time, boosted by FIFA World Cup, NBA playoffs and reality dating show “Love Island USA.” The milestone comes as Comcast Corp.prepares to spin off NBCUniversal entertainment and news media businesses into a separate company.

Peacock, which launched in 2020, grew its paid subscribers by 4% to 48 million in the second quarter, compared to the previous quarter.The company said Peacock’s earnings before interest, taxes, depreciation and amortization was $189 million.

“In just six years, we built Peacock into a streaming business with real scale in the U.S.,” said Brian Roberts, chairman and co-CEO of Comcast on Thursday in an earnings call, adding that Peacock has added two million paid subscribers in each of the last two quarters.Co-CEO Mike Cavanagh said that performance “reinforces the value of NBC, Telemundo, Bravo, and Peacock together as one integrated media business with continued opportunity to drive stronger engagement, advertising, and profitability into the future.” Hollywood Inc.

Comcast is spinning off its NBCUniversal entertainment and media assets into a separate publicly traded company.Comcast plans to spin off Peacock, NBC and Telemundo broadcast networks, Bravo, Universal film, television studios and theme parks and British TV service Sky into its own separate company, with a goal of completing the separation in about a year.Michael J.

Wolf, CEO of Activate Consulting, said Peacock’s first profit proves that live sports and premium programming “remain the single most powerful anchors for consumer attention and subscriber growth.”“As Comcast prepares to spin off NBCUniversal, freeing it from legacy cable, a standalone NBCU is now structurally positioned to compete at the highest level of s...