Comcast CFO Jason Armstrong yesterday "touted the momentum" of Peacock and the “benefits of having a combined offering of entertainment and sports content,” according to Georg Szalai of the HOLLYWOOD REPORTER. Armstrong speaking at the Morgan Stanley TMT Conference in S.F. said they have "seen a lot of value in having sports and entertainment in one portfolio.” Armstrong: “As important as sports is, and it’s super important as an acquisition driver, it ends up being about 10 percent of our overall usage ... but what are people sticking around for and doing in between sports is between our pay-one original library, and then the library we have around TV.” He added there is a "lot of tonnage there," so they have "seen a lot of value in having the two together.” Szalai noted Peacock grew its fourth-quarter revenue by 57% to surpass $1B for a quarter for the first time, while “narrowing its loss.” The streamer ended 2023 with 31 million paying subscribers. Armstrong predicted the Paris Games would be "‘spectacular’ for the company and sports fans." Armstrong said after "three straight Olympics that had timezone challenges and the pandemic," the next three in Paris, Milan and L.A. "sets up really nicely for us.” Armstrong said they have "seen a ton of demand on the Olympics" from advertisers (HOLLYWOOD REPORTER, 3/6).
