Rising Peacock losses with stagnant subscribers contribute to Comcast stock drop
Peacock posted $467 million in Q2 losses, up from $363 million in that quarter last year.
Peacock posted $467 million in Q2 losses, up from $363 million in that quarter last year.
The media networks division, which includes ESPN and ABC, saw a boost in operating income, but a lot of that was about programming costs for the NBA in particular not being applied to Q3. Overall, the media networks saw slight revenue declines, but they seem to have less issues than other Disney divisions.
"The growth in TV is not coming from linear TV providers, but from huge programmers. You just can't swim upstream against a real tide of big players."
The launch of Disney+ has boosted ESPN+ significantly, with a lot of people adding ESPN+ thanks to the bundle with Disney+ and Hulu.
TheMaven announced that it beat its revenue projection for this year and that it expects "more than $27 million in operational savings at Sports Illustrated" in 2020 (compared to the magazine's 2018 numbers) from cuts, including further print issue reductions.
ESPN had a relatively good quarter, compared to both its past results and what happened at ABC.