Comcast Projects Peacock's First Profit Following $432M Q1 Loss
During a Q1 2026 earnings call, Comcast executives signaled that the Peacock streaming service is expected to turn its first-ever profit in the second quarter. For Q1 2026, Peacock reported a loss of $432 million on $2.0 billion in revenue, reaching 46 million subscribers by the end of the quarter. The projected improvement is partly attributed to a lower concentration of NBA season costs in Q2 compared to Q1.
Key Takeaways
- Peacock generated $2.0 billion in Q1 revenue and grew to 46 million subscribers, an addition of 2 million since the end of 2025.
- The service posted a $432 million loss for the quarter, which was impacted by a high concentration of sports rights costs.
- The projected Q2 profitability is partly due to cost phasing; Q2 will carry roughly half the NBA season costs recognized in Q1.
- Q1 growth was supported by a heavy sports calendar, including the Winter Olympics, Super Bowl LX, and the NBA All-Star Weekend.
Why It Matters
Peacock reaching profitability would be a significant milestone, validating Comcast's long-term investment strategy. The projection is heavily tied to cost management—specifically, the phasing of NBA rights payments—rather than a surge in revenue. A profitable Peacock provides NBCUniversal a stronger DTC outlet for its content and live sports, marking a key inflection point for a legacy media company making the streaming model viable. The key indicator will be the Q2 earnings report: not just whether the service posts a net profit, but whether it can sustain subscriber growth without a Super Bowl-level event slate.
Read full article at hollywoodreporter.com
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