NBCUniversal Touts 10 Million Peacock Sign-Ups as Q2 TV Ad Revenue Plummets
Cable and broadcast were both down more than 25% due to Covid-19
NBCU CEO Jeff Shell told investors that TV advertising "is coming back more rapidly than we anticipated."
NBCUniversal
Key insights:
- Executives are optimistic that the return of some programming will mean better ad sales in the fall.
- NBCUniversal CEO Jeff Shell said early results from Peacock had exceeded expectations.
The Covid-19 pandemic, which evaporated first quarter TV ad revenue, continued to depress the bottom lines for broadcast media giants in the second quarter. For Comcast, that has translated to a Q2 loss of more than 25% of NBCUniversal’s broadcast and cable ad revenues.
