Comcast/NBC/Universal’s streaming services, Peacock, lost a hefty$ 639 million in the first three weeks of 2024.
” Peacock narrowed its streaming lost to$ 639 million in the first quarter of 2024, with paid subscribers growing 55 % year- over- season to 34 million”, reported the much- kept Wrap. However, as pay TV and broadband users sat stifled the media company, its shares dropped by more than 6 %.
“Narrowed.”
The Wrap yet put “narrows” in the article…” Peacock Narrows Streaming Loss to$ 639 Million in Q1, Hits 34 Million Paid Subscribers”.
So, yeah, Peacock is on pace to lose$ 2.76 billion — with a” B” — in 2024, but let’s go with “narrows”.
But just how “narrow” is that compared to 2023? Study on …
During the fourth, Peacock added 3 million users. Its narrowed loss of$ 639 million in the first quarter, followed by peak losses of$ 2.7 billion in 2023. Executives have recently stated that they anticipate Peacock’s loss to” significantly improve” in 2024. The company’s average revenue per customer is around$ 10.
Oh, but Peacock is on pace to “narrow” its loss from$ 2.7 billion in 2023 to … … …$ 2.76 billion in 2024.
Wait, is n’t$ 2.76 billion MORE than$ 2.7 billion? Or is a trans dark illegal immigrant operating Peacock and benefiting from some of that DEI math?
The only good news for Peacock here is that in the last quarter of 2023, it lost$ 825 million, compared to$ 639 million this quarter. But also … Wow.
We have n’t even gotten to my favorite part…
As the cable company continued to bleed subscribers from cord-cutting, video revenue decreased by 6.9 % year over year to$ 6.87 billion. … The tier lost 487, 000 movie customers for a total of 13.6 million and 65, 000 local wifi customers for a full of 32.2 million, but gained 289, 000 mobile subscribers during the fourth for a complete of 6.87 million. Overall customer interactions decreased by 166, 000 to 52 million.
” Give TV” is cable/satellite TV — and, for 15 years, I’ve been writing about , this slower- action calamity that the entertainment media wrist flicks and glides over.
The entertainment infrastructure is supported by Pay TV’s four-legged stool. A hundred million American households were duped into paying a fortune for dozens of unwatchable cable channels for decades. Thanks to people canceling their cable and moving to streaming, that’s all coming to an end. BUT…
As can be seen in this example, streaming is far less than compensating for that revenue. Unlike pay TV, which ended up becoming an affirmative- action program for left- wing Hollywood where merit did n’t matter, with streaming, merit does matter. We only subscribe if we want to watch your content, whereas with pay TV, we pay for your content even if we have never watched it. We did this because we wanted Fox News, Turner Classic Movies, or the local networks, so we had to pay for your garbage in those fascist cable packages.
And it’s not just Peacock bleeding billions. All the streaming services are losing billions of dollars as the Golden Affirmative- Action Goose, which was pay TV, drys up and perishes.
The left- wing entertainment media glosses over this epoch to protect the stock prices of these conglomerates, who are their advertisers. But that does n’t change the fact that it’s happening and that it’s glorious.
Eventually, economic reality will force these streaming services to stop with the woke programming, the gay sex, and the left- wing lectures and produce stuff Normal People want to watch. Or, Comcast, a multinational corporation, can never change and liquidate two or three billion dollars annually. Either way …
I’m fine with it.
John Nolte’s first and last novel, Borrowed Time,  , is winning five- star raves from everyday readers.  , You can read an excerpt , here and an in- depth review , here.  , Also available in hardcover on Kindle and Audiobook.  ,
