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Peacock Startup Lost $914 Million for Comcast

NBCU Peacock Comcast
Peacock, launched in April, lost $914 million in 2020 (Image credit: NBCUniversal)

Comcast’s new streaming service Peacock lost $914 million in 2020, including intra-company charges, the company disclosed in a Securities and Exchange Commission filing Monday.

Peacock, which launched on April 15, generated $118 million for the year, according to the filing.

Comcast made the filing because it is changing the way it is accounting for some of its businesses. As a startup, Peacock’s financials were included in the corporate category. Going forward, it will be part of NBCUniversal’s accounting. 

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In the new system, NBCU will report financial reports for media, including cable and broadcast networks, local television stations and Peacock; studios, including film and television production and distribution; and theme parks.

According to the filing, Peacock’s adjusted EBITDA was a negative $662 million and it also resulted in $252 million in intra-company payments.

Including Peacock, NBCU had revenue of $27.2 billion and EBITDA of $5.4 billion. million. 

In January, Comcast said that Peacock had 33 million signups.