Peacock Expected To Lose $2.5B This Year

NBCUniversal's streaming service Peacock has 15 million paying subscribers, NBCUniversal CEO Jeff Shell told CNBC’s David Faber on Tuesday. That puts Peacock behind Netflix, Prime Video, Disney+, Hulu, HBO Max and Paramount+ in terms of subscribers. It’s also likely behind Apple TV+, though Apple has never announced its actual subscriber number.

Peacock plans to lose $2.5 billion this year before breaking even in 2024. Bundling with other services would be a straight forward way for Peacock to build a subscriber base.

NBCUniversal executives have held exploratory talks at various times about forming a bundle with several of the largest streamers, including HBO Max and Paramount+, according to people familiar with the matter who asked to remain anonymous because the discussions are private. An NBCUniversal spokesperson declined to comment.

Peacock’s inquiries have thus far been met with a “no.” 

The general sentiment from potential larger partners is bundling would help Peacock more than it would help them. NBCUniversal and Paramount Global have a joint venture streaming service in Europe, which could theoretically provide a blueprint for a similar service in the United States.

But Paramount Global CEO Bob Bakish has said privately he has no interest in partnering with Peacock in the U.S. because he views a bundle as benefitting Peacock more than it would Paramount+, according to people familiar with the matter. Paramount+ ended its most recent quarter with more than 43 million global subscribers. A Paramount Global spokesperson declined to comment.