NBCUniversal reports higher Peacock losses as CEO shows door

Peacock losses proceed to rise this quarter, NBCUniversal guardian firm Comcast reported Thursday, just a few days after the corporate announced Jeff Shell’s tenure as CEO of NBCU has expired. Peacock posted a lack of $704 million within the first quarter of 2023, a major bounce from $456 million in the identical interval a 12 months in the past.

Within the fourth quarter of 2022, Peacock reported an adjusted EBITDA lack of $978 million. The corporate beforehand warned its shareholders that it expects losses to succeed in almost $3 billion this 12 months.

Nevertheless, Peacock additionally skilled subscriber development, including two million paid subscribers, bringing the full variety of subscribers to 22 million from 20 million within the earlier quarter; it is a important enhance in comparison with the earlier 12 months when it had 13 million paid subscribers.

Peacock noticed income enhance 45% to $685 million.

Comcast introduced on Monday that Shell is leaving the corporate with quick impact following an investigation into an inside grievance of an improper relationship. In the meantime, Comcast President Mike Cavanagh will take over Shell’s duties.

“Immediately is my final day as CEO of NBCUniversal. I had an inappropriate relationship with a lady on the firm that I remorse deeply. “I’m actually sorry to disappoint my colleagues at Comcast and NBCUniversal, a few of the most proficient individuals within the business, and the chance to work with them over the previous 19 years has been a privilege,” Shell mentioned in an announcement.