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Comcast said Peacock hit 24.5 monthly active accounts in the U.S. at year end, up from 20 million as of June, the last time the media giant provided a number. In an unusual peek at the numbers, it said the streaming service lost an adjusted $559 million for the quarter and $1.7 billion for full-year 2021 on revenue of, respectively, $335 million and $778 million.
That compares with $71 million of revenue and a loss of $254 million in the 2020 fourth quarter, and $118 million of revenue with a $663-million loss for the year. It launched in summer of 2020 and execs have said it would hit break even in 2024.
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Comcast’s fourth-quarter was solid with key metrics topping Wall Street forecasts, led by revenue of $30.3 billion (vs $29.6B anticipated), up 9% from the 2020 period, and adjusted earnings per share of 77 cents (vs 74 cents forecast). Adjusted figures back out nonrecurring and other items.
Net Income dipped 9.6% to $3.1 billion.
At NBCUniversal, revenue surged 25% to $9.3 billion. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) decreased 6.8% to $1.3 billion for the quarter. For the full year, that rose 6% to $5.7 billion, including losses from Peacock investment.
Quarterly media results include $335 million of revenue and an adjusted EBITDA loss of $559 million related to Peacock, compared to $71 million of revenue and an adjusted EBITDA loss of $254 million in the prior year period. . For the full year, it recognized $778 million of revenue and
an adjusted EBITDA loss of $1.7 billion for Peacock, compared with $118 million on revenue and a loss of $663 million in 2020.
Studios revenue jumped 36.4% to $2.4 billion on higher content licensing revenue, home entertainment, theatrical and other revenue. Theatrical revenue increased by $80 million, primarily due to releases Sing 2 and Halloween Kills,
Media revenue rose 8.4% to $5.8 billion, primarily reflecting higher distribution revenue and advertising revenue. Ad sales increased 6%, reflecting higher pricing and additional Peacock sales, partially offset by a decline in ratings and lower political advertising.
Theme Parks are recovering quickly from the ongoing negative impacts of Covid-19, benefiting from strong demand from domestic guests in the U.S. and Japan. The division celebrated the Grand Opening of Universal Beijing Resort in September. Quarterly revenue rose by $1.2 billion to $1.9 billion.