NBCUniversal ad revenue rose 32% in Q2, thanks to live sports

(Credit: Getty Images)
(Credit: Getty Images)

Streaming service Peacock picked up 54 million sign-ups thanks to new content.

NBCUniversal’s advertising revenue increased 32.8% in the second quarter as live sports programming increased, Comcast announced during its earnings call on Thursday.

Live sports also had a positive impact on NBCUniversal’s streaming service, Peacock, which added 54 million sign-ups and had more than 20 million monthly active accounts in Q2. 

Comcast accredited the surge to the Tokyo Olympics, which is streaming on Peacock, the premiere of Boss Baby 2 and the debut of original series Dr. Death.

Comcast, which doesn’t split out free and paid users for Peacock, did not report how many sign-ups were from the paid subscription tier.

In April, Peacock reported it had 42 million sign-ups in Q1, attributing the spike to exclusive domestic streaming rights to the WWE Network and The Office.

Later this year, Peacock will roll out internationally, starting with Comcast’s Sky platforms in Europe. The streaming platform will be included at no cost to Comcast subscribers.

“We look forward to finalizing other programing and distribution agreements in additional markets,” Brian Roberts, Comcast CEO, said on the call.

Overall, NBCUniversal’s film revenue raked in $2.2 billion  an increase of 8.4% from the previous year  as movie theaters across the U.S. reopened after shutting during the pandemic. 

Comcast’s studio production business has returned to pre-pandemic levels, the company said. It was largely boosted by the premiere of Fast 9, which raked in $600 million at the box office worldwide.

Theme park revenue also increased by $958 million to $1.1 billion as parks reopened. Comcast’s media division accounted for $5.1 billion, up 25.7% from one year prior, and cable communications brought in $16 billion, up 10.9%.

Comcast saw an influx in total subscriptions by 294,000 to 33.8 million in Q2. The company added 354,000 broadband customers, but lost 399,000 video subscribers and 108,000 voice customers as people continue to cut the cord.

NBCUniversal’s pandemic rebound comes after the media conglomerate wrapped its annual upfront negotiations with $500 million in commitments to Peacock.


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