Peacock, the streaming service of Comcast’s NBCUniversal, ended the second quarter with 13 million paid subscribers, parent company Comcast reported this morning. In the first quarter, there were 13 million paying customers out of 28 million monthly active accounts. This means that Peacock’s paid subscriber base, as of the end of June, stalled with zero growth.
Also, Comcast revealed that losses at Peacock widened to $467 million (EBITDA), from an adjusted EBITDA loss of $363 million in 2021. Investors reacted negatively, and Comcast shares declined 6% in pre-market trading.
While there were losses and its subscriber base stalled, Peacock did help drive an 8% year-over-year increase in distribution revenue.
The company was quick to remind shareholders that the streaming service—which also has a free ad-supported tier—had a “very strong first quarter that was driven by a variety of extraordinary programming,” Comcast wrote in its letter to shareholders.
Back in April, during the company’s first-quarter earnings call, Comcast chairman-CEO Brian Roberts warned that the company did not anticipate a significant level of growth quarter-to-quarter. The 4 million paid subscriber additions in Q1 2022 were largely thanks to the Super Bowl LVI and the Beijing Winter Olympics that streamed on the service.