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July 22, 2021, 6:32 a.m. EDT

Comcast Corporation (US: CMCSA) Has Decided To Pour Billions Into Peacock; Now It Just Needs an Effective Strategy


Jul 22, 2021 (WallStreetPR via Comtex) -- In a Zoom meeting held in April, the heads of departments of all NBC Universal's most significant divisions came together to talk about how the business was doing. It did not take too long before they all started talking about Peacock, which is NBC's flagship streaming service.

Since the platform's debut last April, it's had a really slow start. According to Gerry Smith's report, It's got around fourteen million monthly users alongside roughly three million paying subscribers. This basically means the Disney Plus managed to get more subscribers on the first day than Peacock managed to get in the first year. With that said, Comcast Corporation (NAS:CMCSA) has cautioned consumers that Peacock is not setting out to compete with the likes of Walt Disney Co (NYS:DIS) plus or Netflix Inc (NAS:NFLX) Netflix. However, one of the reasons it can't is that the company lacks the necessary resources.

Senior leadership meeting

NBC Universal's senior leaders gave their pitches one by one of how they could turn the Peacock platform into a more appealing streaming service. First, Donna Langley, Universal's film chief, discussed how her studio had the ability to develop original movies. Next, mark Lazarus dwelled on the slate of sports rights the company has at its disposal and what big attractions were coming up soon, while Susan Ravner was busy trying to come up with efficient programming strategies. Finally, Pearlena Igbokwe, the TV studio head, wanted to shed light on the opportunity they now had to create shows like "FBI" and "Hacks" for in-house service.

All the plans being proposed had one thing in common. They all needed a lot of money. Comcast would need to inject billions of dollars into Peacock's programming budget, and only one individual had the power to approve such surges; Comcast's CEO, Brian Roberts.

Bystanders and participants alike have different recollections of Roberts' responses. Some Comcast senior leaders say the meeting was basically a mere long-term planning session, while others say that Roberts holds Peacock in the highest of regards and might just be its biggest fan.

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