Streaming Service Peacock Lost $914 Million In 2020

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NBCUniversal’s streaming platform Peacock lost $914 million in 2020. The numbers come via a filing by parent company Comcast with the US Securities and Exchange Commission.

As reported by Variety, Peacock made $118 million for NBCUniversal in 2020. However, the company spent $989 million in what is termed “eliminations.” These are payments from within the company for Peacock to license movies and shows from other divisions. The filing by Comcast was made as part of its new method of reporting its results to the SEC, dividing its business into media, studios, and theme parks.

While $914 million is obviously a high figure, a loss is to be expected for a new service in its first year. Comcast executives previously told investors that they will be investing more than $2 billion into Peacock over its first two years, and expected the service to break even by 2025.

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Source: Game Spot Mashup