It’s not easy competing with the likes of Netflix, Disney+, Amazon Prime, or HBO Max, and outfits like Peacock are laboring to stay in the fight. According to The Hollywood Reporter, during an earnings call with NBCUniversal parent company Comcast, it was revealed that the streaming service gained over 20 million subscribers as of the fourth quarter of 2022. While that is a substantial improvement from its 15 million number posted in the third quarter, the news is unfortunately not all good. The report states that Peacock’s full-year losses reached a rather high sum of $2.5 billion in 2022, and it is believed that number will rise to $3 billion in 2023.
Many would probably interpret these less-than-ideal numbers as a crisis. However, Comcast President Michael Cavanagh believes that the situation is only temporary and good things are coming for the streamer, saying, “As we have said before, we believe 2023 will be peak losses for Peacock, and from there (they will) steadily improve.” Despite having a wide range of content fans love and a steady gain of subscriptions, Peacock still needs more time to cover its losses.
And Peacock isn’t the only outlet facing similar issues. In late 2022, AMC+ announced that massive layoffs would occur as streaming numbers continue to decline. It seems things are hitting a breaking point, and it will be intriguing to see how things play out for those struggling. Any war, even a streaming one, will have its losses, and while Peacock may still be in the fight, it has incurred heavy losses in its efforts toward victory.
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