NBCUniversal's Peacock posted a mind-boggling $2.7 billion loss in 2023, as the left-leaning legacy studio continues to burn through cash at an alarming rate in Hollywood's streaming arms race.
Peacock currently has a subscriber base of about 30 million people, which is still far behind Netflix, which has about 80 million domestic subscribers.
The 2023 loss was even worse than the previous year, when Peacock lost $2.5 billion.
Peacock has not been able to generate much public enthusiasm for its original programming, and instead relies heavily on hit series. yellowstoneis leased from Paramount.
This streamer actively promotes Seth MacFarlane's work tedis a new comedy series based on the popular R-rated movie about a sexualized stuffed bear.
The show debuted as Peacock's most-watched series, but MacFarlane recently Said hollywood reporter The series is said to be “prohibitively expensive.”
Peacock serves as a streaming home for far-left MSNBC programming. The Lead Outhosted by Joy Reid.
I also created a streamer Mehdi Hasan Shaw, Before the host Mehdi Hasan, who had problems with ratings, left the show.
On Thursday, Comcast-owned NBCUniversal said Peacock's losses totaled $825 million in the final quarter of 2023, and the service added only 2 million subscribers from the previous three months.
Other traditional Hollywood studios are also losing their shirts trying to compete with Netflix for streaming dollars.
The Walt Disney Company is pumping billions of dollars a year into its Disney+ streaming service, but it's still a long way from turning a profit. The company's string of losses has alarmed investors and is contributing to a fight within the board over the company's future.
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