Already a member? Log In

Peacock’s M&A Endgame

wrestlemania xl
Big events like the NFL wild card game and WrestleMania XL have raised Peacock’s profile. Photo: Louis Grasse/PXimages/Icon Sportswire/Getty Images
Julia Alexander
April 16, 2024

It may only be Tuesday, but trust me, the Veuve-Clicquot is on ice in Los Gatos as earnings season commences. Analysts are using words like “blowout” in anticipation of Netflix’s subscriber numbers. Things are also looking up for Warner Bros. Discovery’s Max, which is now technically profitable, and for Disney+, which has narrowed its losses to below $150 million and plans to cross into the black this year. (This is not investment advice.)

Alas, then there’s Peacock. The NBCUniversal streamer hemorrhaged $825 million last quarter, less than its billion-dollar loss during the same period in 2022, but somehow more than the streaming losses over at Paramount+, which will almost certainly be sold or mutilated before it reaches profitability.