Peacock targets 30M domestic accounts, break-even by 2024

Jan. 16, 2020 5:44 PM ETComcast Corporation (CMCSA)CMCSABy: Jason Aycock, SA News Editor11 Comments
  • As Comcast (NASDAQ:CMCSA) wraps up its Peacock investor day, it's revealing key financial expectations.
  • The company's Matt Strauss says measurables for the new streaming service are driven three ways: Active Accounts (accounts streaming each month); Engagement (hours watched per account); and ARPU (gradually building over time as it scales with users, content and engagement).
  • On the other side, programming, marketing and tech are the key cost drivers. NBCUniversal plans a cumulative $2B EBITDA investment in the 2020-2021 time frame.
  • By 2024, it's targeting 30M-35M domestic active accounts.
  • Also by 2024: ARPU of $6-7 (mostly advertising), revenue of $2.5B per year, and break-even adjusted EBITDA. Hulu generates $10 per sub on advertising today, Strauss notes.
  • Beyond 2024, the company expects "significant and growing profitability" with more scale.
  • CMCSA is up 0.2% after hours; it gained 1.3% during the regular session.

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