Peacock adds 5m subs in Q4 2022, but losses hit $978m

Poker Face

NBCUniversal’s streaming service Peacock added over five million paid subscribers in the US in Q4 2022, with its total to more than doubling to surpass 20 million over the course of the year.

According to parent company Comcast’s 2022 annual and Q4 report, the growth was driven by live sports, new films and original programming to deliver the best quarterly result that Peacock has achieved since launch in 2020.

Peacock revenue nearly tripled to $2.1bn, however adjusted losses related to Peacock rose significantly in 2022 to reach $978m, compared to $559m in 2021.

Recent orders from the streamer have included factual titles Woooooo! Becoming Ric Flair and Casey Anthony: Where The Truth Lies, as well as scripted series such as Poker Face from Rian Johnson.

According to Comcast, 2022 saw total revenue from the media segment increased by 2.7% to $23.4bn, primarily due to higher distribution revenue and advertising revenue.

Studios revenue meanwhile increased 13.1% to $2.7bn in Q4 2022, due to higher content licensing and theatrical revenue, while content licensing revenue increased 15.9%, bolstered by additional sales of content as production levels returned to normal.

Theatrical revenue increased 47.3%, which Comcast said was due to the performance of recent releases, such as Ticket to Paradise, Puss in Boots: The Last Wish, Violent Night and Halloween Ends.