Peacock’s losses continue to widen this quarter, parent company of NBCUniversal, Comcast reported Thursday, a few days after the company Announced that Jeff Shell’s time as NBCU CEO was over. Peacock had $704 million in losses in the first quarter of 2023, a significant jump from $456 million in the same period a year earlier.
In it fourth quarter of 2022, Peacock reported an adjusted EBITDA loss of $978 million. The company previously warned shareholders that it expects losses to peak at around $3 billion this year.
However, Peacock also saw subscriber growth, adding two million paid subscribers to bring the total to 22 million, up from 20 million subscribers in the previous quarter.
Comcast announced Monday that Shell will leave the company, effective immediately, following an investigation into an allegation of an inappropriate relationship within the company. Meanwhile, Comcast Chairman Mike Cavanagh will take over from Shell.
“Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman at the company, which I deeply regret. I am truly sorry to have let my colleagues down at Comcast and NBCUniversal, they are the most talented people in the business and the opportunity to work with them for the past 19 years has been a privilege,” Shell said in a statement.
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