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NBCUniversal Boss Jeff Shell Says Netflix “Noise” Helps “Validate” Peacock’s Path; Streaming Outlet Adds 4M Paid Subscribers In Q1

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After witnessing the carnage on Wall Street after Netflix reported stalling subscriber levels, raising stark questions about the business of streaming, Comcast kept talk of NBCUniversal’s Peacock somewhat limited during its first-quarter earnings call.In contrast with the previous quarter, which was dominated by boosterish sentiment around the two-year-old Peacock and a pledge to increase spending on it, traditional assets this time took center stage.

The performance of NBCU’s advertising business, powered by the Beijing Olympics and Super Bowl LVI, enabled Comcast to beat Wall Street estimates for the quarter.

Revenue and earnings both rising by double digits.“The noise in the rest of the streaming business just validates where we’re going,” NBCU chief Jeff Shell said on the call. “We’ve said from the beginning when we launched Peacock that we’re taking a different approach from other people in the streaming business.

We don’t view Peacock as a separate and distinct business. We think of it as an extension of our existing TV business. And we manage it that way, that’s how we set up our business.

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