Seeing such a staggering number at a loss may make people assume the service is failing, but that isn’t necessarily the case. Companies like Netflix and Uber got their start operating at massive losses, practicing what is known as a growth-before-profit ideology. As first reported by The Hollywood Reporter, NBCUniversal CEO Jeff Shell stated, “Everything on Peacock is heading in the right direction, and there is really nothing from a trajectory perspective that is any different from what it was last quarter.” He continued, “All metrics are pointed up: our usage continues to be great, our mix of users.”
The CEO also noted that Peacock’s marketing plans have shifted, now advertising the service in more ways than just for subscriptions. According to Shell, the plan “is going spectacularly well.” Despite the loss, Peacock is actually ahead of where NBCUniversal had anticipated being at this point, and as Shell continued, “every month, every quarter, it gets further ahead.” Comcast CEO Brian Roberts noted that the day-and-date premiere of “Halloween Kills” was the top non-live event in Peacock’s history and that the hit series “La Brea” is the service’s best performing new show.
Peacock is sure to attract even more subscribers with their recently announced November programming lineup.