NBCUniversal's streaming service Peacock had some struggles last year. While discussing earnings for the fourth quarter of 2021, Comcast announced that Peacock made $778 million in revenue, with an adjusted loss of $1.7 billion. For comparison, in 2020, Peacock had $118 million in revenue, along with an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $663 million. Comcast also revealed that Q4 2021 earnings did better than Wall Street expectations. Overall, there was a mix of achievements and disappointments for the streaming service.

At the end of last year, Peacock had 9 million paying customers, according to Comcast CEO Brian Roberts. The announcement was the first time the number of consumers was made public. Including money made from ads, the average revenue per customer was $10 each month. Roberts explained, "And that's without much focus on paid subscriber growth." Additionally, Peacock has another 7 million monthly "highly engaged bundle subscribers."

In 2022, expectations are for Peacock to lose about $2.5 billion. This will occur as investments in content increase. Multiple shows and movies are in development.

Peacock Made $778 Million in Revenue With an Adjusted Loss of $1.7 Billion

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The cable and entertainment corporation paid $1.5 billion for programming on their streaming service in 2021. Comcast CFO Mike Cavanagh talked about how the company hopes to double that number in 2022. At that point, investment in content would equal $3 billion. Eventually, Comcast wants to increase the amount spent to $5 billion over the next several years.

According to Comcast, Peacock had about 24.5 million consumers who were actively using the service. However, the cable company has not always reported that estimate. So, it is possible the number may or may not be entirely accurate. Peacock has some catching up to do in order to compete with other streaming services. Some, like Netflix and Disney+, have over 100 million subscribers worldwide. Peacock would also need to create a show that brings in a mainstream audience. Disney+ already has multiple shows that millions watch, such as The Mandalorian and The Book of Boba Fett​​​​​. With the wealth of franchises NBCUniversal owns, there are plenty of opportunities for Peacock to succeed.

Peacock, which can be viewed with a free or paid version, was first made available to the public in April 2020. In the age of the streaming wars, the company has faced a large amount of competition. Rival streaming services include Netflix, Hulu, Amazon Prime Video, Disney+, HBO Max, Paramount+, and Discovery+.

Variations of Peacock are a no-cost, ad-supporting version, as well as Peacock Premium ($4.99/month, with ads), and Premium Plus ($9.99/month, no ads). Some of the shows and movies are available on every version, while others are only able to be viewed in one type. The streaming service differs from others by offering multiple versions. Most other companies only offer a paid variety.

At a previous time, higher ups at Comcast said to investors they wanted to invest about $2 billion in 2020 and 2021. In those two years, the adjusted net loss was $2.36 billion. Peacock is currently projected to break even in 2025. However, Cavanagh explained that the break-even point could be pushed to a later date.