Now Streaming: Peacock revenues rise 28% year-over-year in Q4

“Now Streaming” is The Fly’s weekly recap of the stories surrounding the biggest content streamers. 

PLAYING THIS WEEKEND: Among this weekend’s top new streaming shows is Disney+ (DIS) animated series “Your Friendly Neighborhood Spider-Man,” whose first two episodes became available on the platform on January 29. Meanwhile, political thriller series “Paradise,” created by “This Is Us” creator Dan Fogleman and starring Sterling K. Brown, premiered on January 26 on Hulu, while the new season of spy adventure show “The Recruit” premiered on Netflix (NFLX) on January 30. Apple TV+ (AAPL) just received a new season of comedy series “Mythic Quest” this week, while romantic comedy film “You’re Cordially Invited,” starring Will Ferrell and Reese Witherspoon, premiered on Amazon Prime Video (AMZN) on January 30.

U.K. RULES OUT STREAMER LEVY: The U.K. government has effectively ruled out the notion of placing a levy on U.S. streamers amid a funding crisis for domestic scripted series, Deadline’s Jake Kanter (CMCSA) reported that Peacock revenue increased 28% year-over-year to $1.3B in the fourth quarter, noting that adjusted EBITDA losses for the segment improved by nearly $1B for the full year. Overall, revenue for Media increased primarily due to higher domestic distribution revenue. Domestic distribution revenue increased primarily due to higher revenue at Peacock, driven by an increase in paid subscribers compared to the prior year period. International networks revenue increased primarily due to the positive impact of foreign currency and an increase in revenue associated with the distribution of sports networks. Domestic advertising revenue was consistent primarily due to an increase in revenue at Peacock, offset by lower revenue at the company’s networks, Comcast said.

“We had the best financial performance in our company’s 60-year history with record revenue, EBITDA and EPS along with significant free cash flow,” said Brian Roberts, chairman and CEO of Comcast. “Driving these results were the many accomplishments our teams have made across our six growth businesses, including 5% connectivity revenue growth in an intensely competitive environment, another 1.2 million mobile line additions, and a 5% increase in revenue for Business Services. We also had strong performance from our Studios, where we ranked #2 in worldwide box office, and at Peacock, where we delivered revenue growth of 46%, fueled by a diverse slate of sports and entertainment content, including the incredibly successful Paris Olympics. Looking ahead to 2025, we are excited about our Comcast Business acquisition of Nitel, the opening of Epic Universe and bringing the NBA and WNBA back to NBC and on Peacock. We’re positioning our company for the future, and the Board’s confidence in our path forward is underscored by today’s announcement that we are increasing our dividend for the 17th consecutive year.”

PARAMOUNT REBUFFS PROJECT RISE OFFER: Paramount Global (PARA) has rebuffed an unsolicited $13.5B takeover offer from a consortium of investors called Project Rise Partners and has reaffirmed its commitment to the previously $8B announced merger with Skydance Media and RedBird Capital Partners, Luke Bouma of Cord Cutters News reported. In a statement to Cord Cutters News, a spokesperson for Paramount’s Special Committee emphasized that PRP did not submit a proposal during the 45-day “go-shop” period, nor during the preceding seven-month sale process. The spokesperson stated that Paramount is bound by its agreement with Skydance Media and will not engage with PRP in any way that violates that agreement. Despite the higher offer, Paramount’s Special Committee expressed skepticism about PRP’s intentions, stating that “it is unclear what PRP’s objectives are.

NETFLIX DOWNLOAD BUTTON: Netflix (GOOGL) users, allows subscribers to download every episode in a season with just one tap. “Whether you’re gearing up for a long flight and ready to dive into the new season of The Night Agent, a cross-country train ride with XO Kitty Season 2 keeping you company, or just planning some downtime offline, this feature has you covered with just the click of a button,” the company said. “On a show’s display page, look for the button right next to the Share option. Tap it, and the entire season will start downloading automatically – no more downloading episodes one at a time! Want to keep tabs on your downloads or manage individual episodes? Head to the Downloads section under the My Netflix tab – everything will be there.”

NETFLIX CONTENT SLATE: Additionally, Netflix announced some new shows, films, and games set for release in 2025, including the release of Take-Two’s (TTWO) “WWE 2K mobile” for the company’s games platform. “No matter what you’re looking forward to this year, there’s no way to be completely ready for what’s next on Netflix,” said Bela Bajaria, Netflix Chief Content Officer. “Among other titles, that slate will include: New Films like Frankenstein from Academy Award New Comedies including Tina Fey’s The Four Seasons…New Live events above and beyond the WWE Bajaria announced that TUDUM, our global fan event, will stream live from Los Angeles on May 31…Finally, Games offer fans a way to go even deeper into their favorite worlds. With Squid Game: Unleashed on pace to be Netflix’s most downloaded game ever, members can expect to see even more games coming in 2025 based on shows they love, from Ginny & Georgia and Sweet Magnolias to Love is Blind and Single’s Inferno.”

STOCK PLAYS: Other publicly traded companies in the space include Fox (FOXA), Warner Bros. Discovery (WBD), and Fubo (FUBO).