NBCUniversal CEO Jeff Shell sees “very, very encouraging” early signs from Peacock, but also sees “significant adjustments” being made to the expense side of the Comcast div…
NBCUniversal CEO Jeff Shell sees “very, very encouraging” early signs from Peacock, but also sees “significant adjustments” being made to the expense side of the Comcast division in light of COVID-19.
mixed first-quarter results. Shell also addressed the ongoing controversy over theatrical windows andShell was asked about whether the company is “right-sized” in terms of its expenses. “Probably no,” he said. “We’re spending a lot of time on our cost base and we’ll make significant adjustments.”No executives uttered the word “layoffs,” but Comcast is among many companies warning investors about second-quarter results due to the pandemic’s direct impact.
CEO Brian Roberts said Peacock has exceeded internal projections for monthly active users and average view time, though he did not offer any numbers. Comcast Cable chief Dave Watson said Peacock is showing “high levels of engagement with content.” Sports, especially the 2020 Tokyo Olympics, was supposed to offer a massive promotional lift for Peacock and all else at NBCU. But CFO Michael Cavanagh said the company did not incur any losses from the postponement of the games to 2021. He also said Comcast will be able to reduce the cost of sports rights on its 2020 balance sheet because amortization of those costs occurs only when live games air.
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