Comcast revealed that the Peacock streaming service had 42 million sign-ups in the U.S. The information was included in the company’s Q1 2021 financial results this morning. Comcast says the recent addition of exclusive streaming rights to WWE Network and The Office were key.
Here are some other top-line highlights:
- Consolidated Adjusted EBITDA Increased 3.5%
- Total Customer Relationships Across Cable Communications and Sky Increased 3.3% Year-Over-Year to 56.9 Million, Including Net Additions of 602,000 in the Quarter
- Theme Parks Reached Breakeven for the Second Consecutive Quarter Excluding Universal Beijing Resort Pre-Opening Costs
- Revenue for Cable Communications increased 5.9% to $15.8 billion in the first quarter of 2021, driven by increases in broadband, wireless, business services and advertising revenue, partially offset by decreases in other and voice revenue. Broadband revenue increased 12.0% due to an increase in the number of residential broadband customers and an increase in average rates. Wireless revenue increased 49.7% due to an increase in the number of customer lines and an increase in device sales.
Studios
Studio revenue decreased 0.6% to $2.4 billion in Q1 2021. That is primarily due to lower theatrical revenue but offset by higher content licensing revenue. Theatrical revenue decreased 87.7%, primarily driven by the deferral of theatrical releases as a result of theater closures and theaters operating at reduced capacity due to COVID-19. Content licensing revenue increased 14.1%, primarily due to a new licensing agreement for content that became exclusively available for streaming on Peacock during the quarter.
Theme Parks
Theme Parks revenue decreased 33.1% to $619 million in the first quarter of 2021, primarily due to Universal Orlando Resort and Universal Studios Japan operating at limited capacity, while Universal Studios Hollywood remained closed during the quarter as a result of COVID-19.
