Peacock now has 30 million paid subscribers, Comcast President Mike Cavanagh revealed during an investor conference hosted by UBS on Monday. The latest figure comes after the streaming service topped 28 million paid subs during the NBCUniversal parent’s third quarter report. Cavanagh reiterated previous guidance that the service is projected to hit peak losses of $2.8 billion in 2023.
Mike Cavanagh, a veteran of the financial crisis, has just been given a leading part in the unending drama of Hollywood.
Cavanagh In For The Long-Haul At NBCU
With Comcast President Mike Cavanagh now directly overseeing NBCU, Bank of America analyst Jessica Reif Ehrlich asked during a Q&A whether his dual role should be viewed as a permanent solution. “The short answer to the question is me stepping in to oversee NBC is quite sustainable,” he said.
The executive is a company veteran but a relative newcomer to Hollywood, unlike Shell, who left after an inappropriate relationship with a subordinate.
NBCUniversal parent Comcast has promoted CFO Mike Cavanagh to president, working closely with chairman-CEO Brian Roberts to manage the business and teams across the sprawling company. He’ll be only the third executive to hold that title in the company’s 59-year history, Comcast noted, and will also remain chief financial officer.
With pay-TV losses likely to continue, wireless has rapidly emerged as the primary pairing with home broadband at Comcast. “You’re really seeing it become the lead bundle, having the connectivity bundle with broadband together with wireless,” Comcast CFO Mike Cavanagh said Tuesday at the J.P. Morgan Global Technology, Media and Communications Conference.
Exclusives
Comcast CFO Mike Cavanagh sees continued growth for retransmission consent revenue at NBCUniversal and thinks the company will follow the same growth trajectory laid out by CBS. Speaking at UBS investors’ conference, Cavanagh said NBC pulled in $850 million in retrans revenues in 2016 and will take in $1.4 billion this year.
