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TRENDING
Jan. 29, 2024
Peacock Surges to 3 million New Subscribers in Q4
Peacock, steals the spotlight in the fourth quarter, experiencing remarkable growth with a 50% increase in subscribers, totalling 31 million. By: Wee Yan Ling
Comcast’s
streaming platform, Peacock, had witnessed a significant increase in the fourth
quarter which amounted to 50% more subscribers year on year, reaching a total
of 31 million. The last three months of the year alone saw an impeccable net
addition of three million subscribers.
Peacock’s
success is highlighted by a substantial 57% increase in revenue during the
quarter, crossing the significant milestone of $1.0 billion. Adjusted EBITDA
(Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q4 also
showed improvement compared to the prior year, with an adjusted loss of US$825
million, down from US$978 million.
Comcast’s
international connectivity and platforms business, inclusive of Sky
entertainment customers, had experienced a loss of 111,000 customer
relationships in Q4 as it brings the total to 17,847 million.
In
terms of broadband, Comcast managed to retain more customers than anticipated
as they lost 34,000 domestic US broadband subscribers. The broadband revenue
also increased by 3.7% to US$6.4 billion which has driven the increase in
Average revenue Per User (ARPU) as customers upgraded to higher-speed
offerings.
The company’s overall success ensues with the increase of 310,000 subscribers which in turn mitigated the loss of 389,000 video subscribers. The company’s revenue increased by 2.3% and adjusted EBITDA remained essentially flat at US$8 billion.
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