Comcast’s (CMCSA) subsidiary, NBCUniversal, is considering adding its regional sports channels to its Peacock streaming service as early as 2025, according to the Wall Street Journal. This move would expand Peacock’s content offerings, providing subscribers in select markets with live access to games for high-profile teams such as the Phillies of Major League Baseball, Golden State Warriors, and Celtics of the National Basketball Association (NBA).
While Peacock’s offerings will include regional sports channels, NBCUniversal will continue to broadcast games on traditional television as well. This dual-platform strategy aims to cater to those who prefer watching sports on traditional TV as well as those who have cut the cord.
Though NBCUniversal is in the process of finalizing its expansion plan, the rollout may experience delays.
Rising Trend in Streaming: Expanding Sports Content
This initiative aligns with a growing trend in the streaming industry, where numerous companies are providing live sports content to attract and retain subscribers. For instance, Netflix (NFLX), traditionally known for on-demand content, recently acquired rights to broadcast live events, including National Football League (NFL) games on Christmas Day.
NBCUniversal is also actively enhancing its sports offerings on Peacock, having secured a $2.5 billion annual deal for the rights to 100 NBA games earlier this year. The platform already features a diverse array of sports content, including NFL games, Big Ten college sports, Premier League soccer, golf, and the Tour de France.
By adding its regional sports networks to Peacock, NBCUniversal positions itself to capitalize on the increasing demand for live sports streaming.
Is CMCSA a Good Stock to Buy?
Turning to Wall Street, CMCSA has a Moderate Buy consensus rating based on 11 Buys and seven Holds assigned in the last three months. At $47.59, the average Comcast price target implies 12.64% upside potential. Shares of the company have gained more than 10% over the past six months.
