PHILADELPHIA—Comcast reported Q4 earnings showing that Peacock paid subscribers in the U.S. more than doubled, surpassing 20 million at the end of 2022 and that revenue for the Peacock streaming service nearly tripled to $2.1 billion for all of 2022.
In Q4, Peacock paid subscriber net additions in the U.S. were 5 million, fueled by live sports, recent films and originals, making it best quarterly result since the streaming service launched in 2020.
But losses for the service continue to climb. In Q4, 2022 the company reported $660 million of revenue and an adjusted EBITDA loss of $978 million related to Peacock, compared to $335 million of revenue and an adjusted EBITDA loss of $559 million a year earlier in Q4, 2021.
Overall the company reported a loss of $2.5 billion related to Peacock for all of 2022, compared to $778 million of revenue and an adjusted EBITDA6 loss of $1.7 billion in 2021.
In more bad news for broadcast stations heavily dependent on retransmission consent fees from pay TV providers, Comcast also reported hefty video sub losses, losing about 2 million video subs in 2022.
Overall, Comcast lost about 71,000 customers in its Cable Communications unit in Q4, which now serves 34.3 Million and gained only 4,000 broadband customers, boosting the total to 32.2 Million at the end of Q4 2022.
Total video customer net losses in Q4 were 440,000 and total voice customer net losses were 288,000.
Cable Communications wireless customer line net additions, however, grew by 365,000 in Q4, the best quarterly result since launch in 2017.
For the all of 2022 total video customer net losses were 2.0 million and total voice customer net losses were 1.2 million.
For the twelve months ended December 31, 2022, NBCUniversal revenue increased 14.2% to $39.2 billion. The 2022 NBCU revenue included $1.7 billion of incremental revenue from the Beijing Olympics, the NFL's Super Bowl and the FIFA World Cup in the Media segment, while 2021 included $1.8 billion of incremental revenue from the Tokyo Olympics in the Media segment.
Overall the 2022 FIFA World Cup brought in $263 million in incremental revenue for NBCU.
