CMCSA · Earnings call · 2026Q3T · Full report

Peacock Subscriber and Financial Performance

COMCAST CORP · 2026-10-22 · Importance 58 · Surprise 56

Peacock ended the quarter with 48 million subscribers, and management said paid subscribers remained stable sequentially despite a price increase implemented earlier in the quarter. Paid subscribers increased by 7 million year over year, with distribution revenue growth attributed to higher subscription fees and subscriber growth. Peacock revenue rose 34%, supported by distribution and advertising, and the service recorded a second consecutive profitable quarter. Management highlighted sports, Universal pay-one movies, library programming, and originals as core elements of its content proposition.

Key facts

• Comcast expected Peacock to continue generating profitability on an annual basis, while quarterly results could be lumpy depending on when rights rates take effect.
• Comcast said the World Cup and other programming drove Peacock advertising revenue growth of 23%.
• Peacock was profitable for the second consecutive quarter and ended the third quarter with 48 million subscribers.
• Comcast said Peacock held subscribers at 48 million after successfully implementing a price increase late in the summer.
• Peacock generated $261 million of EBITDA, a $478 million year-over-year improvement, and revenue increased 34%.
• Peacock distribution revenue increased 44%, driven by higher subscriber fees and paid subscribers, which increased by 7 million year over year.
• Peacock paid subscribers remained stable sequentially after a price increase began earlier in the quarter.