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.
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.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.