You’d think that the steady drumbeat of streaming services being launched might dull the senses, but Wall Street is rather eager to embrace Peacock. NBCUniversal’s new over-the-top entertainment pl…
’s new over-the-top entertainment platform sent shares of corporate parent Comcast to an all-time high after its unveiling at the company’s Jan. 16 investor day. The service brought to you by one of America’s oldest traditional broadcasters, it turns out, might be setting a new inflection point for the streaming industry with its innovative use of … advertising.
What’s making the investment community pleased as punch isn’t the idea of a “best of” channel of “Saturday Night Live” moments, however — it’s the idea that advertising might have a place in this cord-cutters’ world after all. Disney Plus and Amazon Prime Video also do not support ads. Furthermore, Guggenheim Partners’ Mike McCormack says that with less than five minutes of ads per hour of programming, Peacock will have the “lightest ad load in the industry.” For comparison, Hulu’s ad-supported tier runs around 9-10 minutes of commercials every hour, say analysts.
Comcast plans to pour $2 billion into Peacock over the next two years, and expects to break even on this commitment by the end of 2024; that should translate, it projects, into $6-$7 of average revenue per user from both ads and subs by then, resulting in $2.5 billion in revenue.expects Peacock to have 30 million to 35 million active accounts by 2024, an estimate that Wedbush’s Ives believes is conservative.
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