NBCUniversal’s Peacock streaming service ended last year with 9 million paid subscriptions. Comcast, the streamer’s parent company, shared the milestone during its Q4 2021 earnings call. The announcement marks the first time either company has disclosed just how many people pay for Peacock.
In a call with analysts, Comcast CEO Brian Roberts said the streaming service has approximately 24.5 million monthly active accounts, reports Variety. Of those who pay for Peacock, the majority opt for the platform’s $5 ad-supported tier. When you include ads, Roberts said the company generates close to $10 in average revenue per subscribed account.
In 2022, Comcast CFO Mike Cavanagh said the company plans to spend $3 billion on content for Peacock, doubling its current investment. Moving forward, Comcast could spend as much as $5 billion annually building out Peacock’s media library “over the next couple of years.” Some of that money will come from the company’s linear TV platforms, with Roberts telling analysts Comcast is “committed to reallocating resources and increasing investment” in Peacock due to the platform’s growth.
In practice, Comcast and NBCUniversal are likely to spend at least some of that money on reclaiming content that has ended up on other streaming platforms, including Disney’s Hulu. “Much of our strong NBC content premieres on Hulu, over time we’d like to bring that back to Peacock,” NBCUniversal CEO Jeff Shell said. The company previously paid $500 million to get The Office back from Netflix.
Correction: An earlier version of this story referred to Peacock announcing 24.5 million monthly active users instead of monthly active accounts. The language has been updated for accuracy.