Warner Bros. Paramount deal approved, pressure on Netflix increases<\/figcaption><\/figure>\n<\/div>\nAccording to data from measurement firm Antenna, Peacock has been losing subscribers at a rate of 9% per month so far this year, a rate no other major streaming service can match. After six years in the market and cumulative losses of more than $11 billion, Comcast’s streaming platform is still unique in a field that is rapidly consolidating around itself.<\/p>\n
Peacock has been good at attracting people. The Super Bowl, Winter Olympics and NBA All-Star Weekend increased their share of US TV viewing in February to 3%, a new high, and the service now has 46 million subscribers. <\/p>\n
The problem is to retain them. According to Antenna, its monthly cancellation rate is the worst among major streaming services, and Comcast’s own decision to sell Peacock through third-party platforms like Amazon has made it worse, not better.<\/p>\n
High churn is expensive. This forces Comcast to spend money on marketing to win back the same customers it already had, in addition to its already growing programming budget. The company says its actual churn is close to the industry average, but those figures have not been made public.<\/p>\n
Comcast Chairman Brian Roberts has seen two potential dance partners, Warner Bros. Discovery and Paramount+, tie up without him. He previously planned to buy Electronic Arts and Warner Bros. Discovery, but walked away from both rather than give up control of their media businesses. Their stock has fallen more than 40% over the past five years, limiting their leverage in negotiating any deal.<\/p>\n
However, Roberts has his strengths. The company’s theme parks are performing well; The studio portfolio is looking good; And the company’s Internet business had an excellent quarter. <\/p>\n
Additionally, Roberts has recently shut down most of its cable networks. However, it is unclear whether patience will pay off in Peacock’s case or whether the window for talks on a streaming partnership is closing fast.<\/p>\n
Furthermore, Comcast has already withdrawn its interest in Hulu. Following the merger of Warner Bros. and Paramount, the options for streaming partners are now significantly reduced. <\/p>\n
Taylor Sheridan, creator of the popular series Yellowstone, is set to bring some of his content to Peacock over the next two years. However, recently appointed Jez Butterworth could help take over the streaming service for the time being.<\/p>\n<\/p><\/div>\n