{"id":11493,"date":"2023-11-09T05:51:20","date_gmt":"2023-11-09T05:51:20","guid":{"rendered":"https:\/\/infundpros.com\/investment\/peacock-comcast-are-using-sports-to-turn-a-corner-in-the-streaming-battle\/"},"modified":"2023-11-09T05:51:23","modified_gmt":"2023-11-09T05:51:23","slug":"peacock-comcast-are-using-sports-to-turn-a-corner-in-the-streaming-battle","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=11493","title":{"rendered":"Peacock, Comcast are using sports to turn a corner in the streaming battle"},"content":{"rendered":"
\n

Peacock and parent company Comcast are beginning to turn a critical corner in the quickly escalating streaming battle \u2014 with sports standing as a key factor.<\/p>\n

NBC\u2019s streaming service posted a 64% increase in revenue to $830 million for its third quarter, added 4 million subscribers to hit a new total of 28 million, and narrowed the adjusted quarterly loss to $565 million. That adjusted loss is down from a comparable loss of $651 million in the second quarter and $614 million in last year\u2019s third quarter.<\/p>\n

\n

The improved results, which follow a sluggish\u00a0set\u00a0of quarterly financials in July, give Peacock and Comcast additional confidence in the competition among major streaming services \u2014 particularly as other Comcast businesses such as broadband and cable show their own signs of stress, prompting a sharp drop in the company\u2019s stock.<\/p>\n

Peacock boasts a strong sports lineup that includes the NFL, MLB, soccer\u2019s Premier League, and Spanish-language rights to the World Cup and Women\u2019s World Cup \u2014 not to mention the Olympics, Big Ten and Notre Dame football, NASCAR, and the PGA Tour.\u00a0<\/p>\n

But in recent weeks, Warner Bros. Discovery\u2019s Max has\u00a0added\u00a0a sports tier, Amazon is\u00a0hitting\u00a0new audience thresholds with \u201cThursday Night Football,\u201d and Netflix is\u00a0moving\u00a0into live sports with even bigger\u00a0aspirations.<\/p>\n

\u201cWe see all sports finding a way over the next [few] years to be more and more streamed,\u201d said Comcast chairman and CEO Brian Roberts. \u201cAnd that\u2019s going to require more bandwidth. And that\u2019s going to require and create an opportunity for us to have the superior product in the market. That\u2019s our strategy, and sports really is at the heart and soul of a lot of what we do.\u201d<\/p>\n

Traffic Trends<\/h2>\n

The multifaceted nature of Comcast\u2019s overall business also leaves it in position to benefit from its streaming service rivals.<\/p>\n

Comcast president Mike Cavanagh said its peak broadband network traffic has shifted from Sunday nights to Thursday as a result of Amazon\u2019s exclusive streaming of \u201cThursday Night Football\u201d on Prime Video, and NFL games now represent 25% of all its internet traffic on Thursday nights.<\/p>\n

Broadband networks \u201cwill be put to the test as this transition of sports to streaming continues,\u201d Cavanagh said.<\/p>\n

The next test for Comcast will be in January, when Peacock exclusively streams an NFL wild card game.<\/p>\n

Read the original article on\u00a0FrontOfficeSports.com.<\/p>\n

For more on how sports impacts business and culture, subscribe to the\u00a0Front Office Sports Today podcast.<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Peacock and parent company Comcast are beginning to turn a critical corner in the quickly escalating streaming battle \u2014 with sports standing…<\/p>\n","protected":false},"author":1,"featured_media":11494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-11493","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"\nPeacock, Comcast are using sports to turn a corner in the streaming battle | inFundPros<\/title>\n<meta name=\"description\" content=\"Peacock and parent company Comcast are beginning to turn a critical corner in the quickly escalating streaming battle \u2014 with sports standing as a key\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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