27 Feb Comcast In “Peak Expense Mode” For Peacock Streaming Investment This Year, CFO Says [The Hollywood Reporter]
BY ETAN VLESSING
February 27, 2023 | Comcast continues to lose cable TV subscribers, but its streaming platform Peacock is posting customer growth, despite rising losses.
That’s how newly installed Comcast CFO Jason Armstrong likes to focus on Peacock — the streaming platform for Comcast-owned NBCUniversal — as less a drag on the entertainment conglomerate’s overall business and more an ad-supported streaming platform helping offset continuing declines in linear TV revenue.
“We’re running the business in total. You got the linear business, which is a very good business and a cash-flowing business that you want to protect, but [we’re] migrating to streaming,” he told the Deutsche Bank Media, Internet & Telecom Conference during a session that was webcast on Monday.