Peacock Bets on Paris Olympics to Boost Streaming Market Position Amid $348M Loss and 33 Million Subscribers

Jul 23, 2024, 11:07 AM

With the opening ceremonies of the 2024 Paris Olympics days away, Kelly Campbell, president of the Peacock streaming service, and Comcast executives are confident that the event will significantly elevate Peacock's position in the streaming market. Peacock, which has exclusive US rights to the Olympics, was initially set to launch during the 2020 Tokyo Olympics but was delayed due to the Covid-19 pandemic. Despite recent challenges, including a quarterly loss narrowing to $348 million and a decline in subscribers to 33 million, with a loss of a million subscribers this spring, Comcast hopes the Olympics will boost Peacock's competitiveness against Netflix and Disney+. The TTM adjusted EBITDA loss is still at $2.4 billion.