NBCUniversal’s streaming service Peacock signed up 10 million users since launching for Comcast’s subscribers in April and nationally in July, Comcast announced today in its Q2 earnings release. On its earnings call Comcast noted that the 10 million figure represents sign-ups, not monthly active accounts or users, and that it was still too early to report on these latter metrics which are critical for ad-supported businesses. However, Comcast said use and engagement times were running ahead of expectations so far. CEO Brian Roberts said “Peacock exceeded our high expectations.”
I’m pleased to present the 523rd edition of the VideoNuze podcast, with my weekly partner Colin Dixon of nScreenMedia. As always we wish our listeners all the best and hope everyone is staying well.
Peacock launched nationally this week and Colin and I are both impressed. The user experience and value proposition to advertisers are both strong. As more library and original content is added, it’s only going to get better. However, Peacock’s distribution is currently limited without deals with Amazon Fire TV and Roku, which is why Comcast’s own Flex device is critical. Peacock is also entering a highly competitive SVOD/AVOD market; it is poised to play a lot of different roles for NBCU and Comcast.
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Peacock launched broadly yesterday, though as a Comcast Xfinity broadband subscriber, I’ve had access to it for several months using my Flex device. I’ve spent a bunch of time with it and have been quite impressed. That the Peacock team put it together during the pandemic is quite a feat.
Some of the highlights to me are the very strong UI, the comfort food of popular programs like ’30 Rock,” “Parks and Rec,” “SNL,” and others, plus plenty of movies, the modest ad load of 5 minutes max per hour and the “Channels” which are about 30 virtual linear networks sorted into a traditional program grid.
As I’ve spent time with Peacock and followed the pre-launch coverage it’s become apparent how many different roles Peacock is poised to play for NBCU and its parent Comcast. Here’s a quick rundown:
I’m pleased to present the 497th edition of the VideoNuze podcast, with my weekly partner Colin Dixon of nScreenMedia.
This week Colin and I share our initial impressions of Peacock, NBCU’s new streaming service. Our impressions are based on watching the investor day presentations yesterday. We break down our discussion into covering Peacock’s economics, release plan and user experience. Again these are all our first impressions and not meant to be an exhaustive analysis.
Perhaps the most interesting thing to me is that Peacock’s Premium tier viewer monetization is below its two nearest ad-supported comparables, Hulu and CBS All Access. Both charge $6 per month while Peacock is $5 per month. Peacock is also ensuring maximum ad load of just 5 minutes per hour, which it forecast would amount to $6-7 per viewer, compared to the $7-10 per viewer Hulu is currently generating.
Peacock’s pricing and financial projections remind me why I still believe Comcast should have bought the remaining 70% of Hulu it didn’t own, as I wrote in May, 2018. It feels like an even bigger missed opportunity now. It probably would have cost Comcast around $12-$14 billion to do so, a fraction of the $39 billion it paid to acquire Sky - and it would have been more strategic.
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This afternoon at 4pm ET, Comcast will host an Investor Meeting to share details about NBCUniversal’s upcoming Peacock streaming service. It is a session comparable to what Disney and Apple did last year for Disney+ and Apple TV+ respectively (and what AT&T/WarnerMedia will do for HBO Max). So we all get to learn all the official information about Peacock: pricing, availability, content, overall strategy/fit with existing businesses, marketing, etc.
Following the format of other investor days, we will hear from senior NBCU and Peacock executives, and likely someone from Comcast. Matt Strauss, an old friend of mine, who was moved over from Comcast to become Chairman of Peacock and NBCUniversal Digital Enterprises late last year, will no doubt be the maestro of this afternoon’s session. All the dribs and drabs of information that have been shared by the company previously will be reconciled with all of the rumors and speculation that have gurgled up from around the web.
I’m pleased to present the 495th edition of the VideoNuze podcast, with my weekly partner Colin Dixon of nScreenMedia.
In today’s podcast, our final one for 2019, Colin and I share our top 10 video stories of the year. Whether you agree or disagree with our top 10 (or the ordering), no doubt we can all agree it’s been quite an eventful year for the industry. But as busy as 2019 has been, 2020 is setting up to be a year of even more innovation and change.
As always, Colin and I have had a ton of fun discussing all of the industry’s happenings each week, and we hope you enjoyed following along throughout the year.
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Last Friday afternoon CNBC reported that NBCUniversal is “leaning toward” making the free, ad-supported version of Peacock, its upcoming streaming service, free, with everyone getting unrestricted access. This would be a change from restricting it to Comcast’s cable and broadband subscribers only, as originally intended. The ad-free version would still carry a fee.
Which direction Comcast decides to go will say a lot about whether it sees Peacock’s primary role as helping Comcast grow and defend its core cable/broadband business, or having NBCU become a bona fide competitor in the “streaming wars” developing with Netflix, Amazon, Disney, WarnerMedia, Apple, etc. How should Peacock’s value be optimized - by restricting access to serve the Comcast’s cable/broadband business, or to be guided by the market and help NBCU build Peacock into a large OTT business?