The Paris Olympics was a rollercoaster of emotions. This 17-day spectacle on the grandest stage showcased a wide range of feelings among fans, athletes, and those experiencing the excitement for the first time. Streaming media had to stay on their toes to present the fun wrapped in an exhilarating atmosphere. After all, the Paris Olympics marked the first event since Rio where fans could flock into the stadiums and participate in the festivities. As a result, media outlets needed to capture every wave of excitement, both inside and outside the venues. Notably, NBC Universal enhanced its services to meet these expectations.

It had the responsibility to stream the sports seamlessly in a vast region, including in the USA, through its service, Peacock. However, the streaming conglomerate tried its best to be on the page. But how has it resulted for NBCU and Peacock financially? What are the numbers in the ledger book? 

Different numbers in the same days for the streaming giant 

On October 31, Comcast, the owner of NBCUniversal and Peacock, announced its third-quarter earnings for the period from July 1 to September 30. This timeline includes the week of the Paris Olympics, and the numbers are staggering. According to a report by IndieWire, Peacock gained nearly 3 million subscribers during the Olympics, which provided a welcome relief after the streaming service lost 1 million subscribers in the spring. However, despite this surge, Peacock still faced significant losses in the third quarter, reportedly amounting to around $436 million. While this figure appears daunting, the story has many layers.

In the previous two quarters (first and second), Peacock had to blow after blow. In the first quarter, the loss touched $639 million, whereas in the second quarter, the streaming saw $348 million going down to the flush. Yet, the summer had a glimmer. Because of the Paris Olympics, Peacock added $300 million to the account as revenue. Furthermore, at the end of September, Peacock had 36 million subscribers, compared to 33 million at the end of June. Not just that, the incremental Olympics revenue in media also soared because of the Paris Olympics. 

As per the earnings report, the revenue touched $1.9 billion, where a large amount came from the incremental domestic advertising revenue. Facts like those made the authorities jump over their seats in merriment. A part of it was visible when Brian L. Roberts, the Comcast chairman, shared something. He said, “We delivered an incredibly successful Paris Summer Olympics that helped fuel double-digit percentage growth in Peacock revenue and paid subscribers and contributed to NBC’s #1 ranking for the 2023-2024 season.” Yet, the numbers have come because of something huge. Let’s explore those. 

The Paris Olympics handed the result of stunning efforts 

As per Gary Zenkel, the president of the NBC Olympics, the Paris Olympics gave NBCU the chance to unify the American audience against the backdrop of the sports. The sports had always been on the plate. But in Paris, the streaming media captured the athletes’ stories and presented those without any filter. That helped NBCU and Peacock to pull off the task. Moreover, the streaming services did not miss any event regarding the Paris Olympics in the destinations. 

Throughout the 7,000 hours of coverage, the production team traversed the lanes of Paris and Tahiti, capturing every moment through their lenses and microphones. This extensive coverage played a crucial role in attracting audiences to NBCUniversal, with prime-time shows filling in any gaps. Two prime-time presentations hosted by Mike Tirico significantly boosted viewership, with 100 hours of coverage strategically divided into these presentations during the Paris Olympics. The outcome? Peacock, NBCUniversal, and Comcast are reaping the rewards. Wasn’t the Paris Olympics a profitable venture for all involved?