Peacock Expects Over $3 Billion in Streaming-Related Losses this Year

 

Peacock, one of the many B-level streaming services, ended the June quarter with 24 million users, which is up from 22 million at the end of March. However, during the same three months, the streamer lost $651 million. You read that right. That’s a loss of over $200 million every month.

 

According to IndieWire, those losses have become the norm. In the previous quarter, the NBCUniversal streaming service lost $704 million (and $467 million in Q2 2022). The company fully anticipates over $3 billion in streaming-related losses for the year. The only real bright spot for Comcast is that they will soon receive $9 billion in streaming revenue from the sale of its Hulu stake to Disney.

 

While the vast majority of Peacock subscribers are on the “Premium” tier of the service, Peacock’s revenue managed to increase by 85% year over year, largely as a result of advertising. Until recently, the ad-supported option cost $4.99 per month; following a July price hike it’s now $5.99. Commercial-free “Premium Plus” increased from $9.99/month to $11.99/month.

 

John Nolte at Breitbart says this proves that Hollywood is screwed, and they did it to themselves.

 

With the era of cable/satellite TV ending—an era where 120 million U.S. households once paid around $150 per month for dozens of channels they never watch, and Hollywood got a huge chunk of that $150.00 X 120 million each month—Hollywood is screwed.

Through the satellite/cable TV racket, billions of unearned dollars are poured into Hollywood every month. But now that all these cheaper streaming options are available, people are canceling their cable. Enough are canceling that the whole rigged system is doomed to collapse within a decade.

And now, after alienating half the country and forgetting how to create quality and original content with universal appeal, these entertainment outlets are dealing with a merit-based market again, and they are losing billions. Every streaming service except Netflix is losing billions. Not enough people are interested in their lousy product to make a profit.

 

Nolte goes on to argue that people don’t want to, or even have to pay for TV anymore, and they shouldn’t.

 

If you’re paying for the Internet, there is so much free movie and TV content available to you; you won’t believe it. I’m talking about FreeVee, Redbox, Tubi, Pluto… Those outlets have tons and tons of stuff, including news, classic TV shows, all kinds of movies, true crime, sports, and DIY. Sure, there are commercials, but Peacock charges you and still includes ads.

Stop paying for TV!

If you live anywhere near a metro area, a $25 antenna will bury you in free TV—including the major broadcast networks.

With the $5.99 here and the $9.99 there, and the $11.99 over yonder, these subscription companies bleed you white and leave you with nothing. All that money and you own nothing—no music, no movies, no books, no videogames…

Be it stocks, real estate, video games, or a comic book collection, ownership is the key to prosperity.

 

As we’ve been saying for years, physical media will always be king.

Avatar photo

Jamison Ashley

Comic geek, movie nerd, father, and husband - but not necessarily in that order. Former captain of this ship o' fools secretly training everyone's computers and snarkphone spell-checkers to misspell 'supposebly.'

JUST KEEPING THE LIGHTS ON