Tháng Tư 19, 2024

Peacock Streaming Service Posts Absurd 2023 Losses

Streaming services are set to dominate the airwaves once again in 2024 as broadcast television continues to die a slow, sad death. The broadcast networks, NBC, CBS, Disney-owned ABC, and even Fox have suffered from a decline in viewership largely due to the watered-down nature of their programming. Funny, edgy shows like The Office, Big Bang Theory, Friends, and Seinfeld are a thing of the past, replaced by forced diversity, woke themes, and unimaginative writing.

The availability of streaming services and technological advancement has led many Americans to “cut the cord” and leave cable altogether in favor of individual streaming services. Unfortunately, many consumers have found the need to purchase numerous monthly streaming packages to retain their favorite content, and streamers like YouTube TV are basically nothing more than cable without the actual cables.

If most consumers sat down with their total streaming bill, it likely would approach or exceed what they were paying the cable company. However, there is a psychological victory in ditching cable television, even though to stream, most people require high-speed internet delivered by, you guessed it, the cable company. Despite the semantics, streaming is the future, cable is the past, and broadcast television is dead.

Despite the money folks are pumping into streaming on a monthly basis, nearly all services bleed cash. Out of the plethora of streaming options, including giants like Apple, Amazon, and Disney, it has been reported that the only service to turn a profit is the upstart Roku, and that is largely from the inclusion of their software in television brands such as LG. Needless to say, it is a confusing, less-than-profitable time for streaming services.

Recently, one service attempted a Hail Mary with the NFL and, in the process, ruffled fans’ feathers everywhere. Peacock, owned by NBCUniversal, paid a reported $110 million to the NFL for the exclusive rights to an NFL Wild Card Playoff game, ostensibly forcing anyone who wanted to watch the game to pony up the $5.99 monthly subscription fee. That didn’t sit well with many fans and media types, and though actual numbers have yet to be revealed, the experiment may portend things to come regarding televised sports.

Parent company NBCUniversal revealed that their streaming service Peacock lost an absurd $2.7 billion dollars in 2023. Peacock currently claims around 30 million subscribers, however, that number could dip dramatically based on the number of people that canceled their membership after the Wild Card game. For comparison, Netflix boasts around 80 million American customers. Netflix generates a profit with 80 million subscribers but also boasts original content, including movies, series, and comedy specials.

NBC may be hanging its hopes on the NFL, but considering the broadcast networks lost money annually on the league, the prospects of football saving Peacock don’t look good. Peacock also doesn’t dabble much in original content; instead, leasing shows like Yellowstone from Paramount. The NFL broadcast led into the series premier of Peacock original Ted, based on the Seth McFarlane movies. The program was the most viewed in the history of the streamer, but McFarlane called the show “outrageously expensive.”

The bubble has to burst eventually for streaming. Much like the music services, television can’t bleed cash forever. Disney already reportedly is itching to unload Hulu, and if Peacock doesn’t show good numbers from the NFL and continues to bleed billions, NBCUniversal could pull the plug on its pricey project.

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