Comcast lost a lot of money on Peacock TV last year. According to Variety, the streaming service lost over $1-billion in 2021, qnd is expected to lose even more in 2022 . Comcast, in reporting Q4 earnings Thursday, revealed that Peacock generated $778 million in revenue for the full-year 2021, with an adjusted loss of $1.7 billion. That’s compared with $118 million of revenue and an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $663 million in 2020. For 2022, Comcast expects Peacock losses to total about $2.5 billion as its investment in content doubles, CFO Mike Cavanagh said on the earnings call. So, why is this a good thing? I mean, losing billions of dollars doesn't sound good, does it? But, launching a large streaming service is expensive, and Comcast thinks that in the long run, they can withstand these losses and end up making money overall. They're looking at it as a long-term investment. In fact, for the 4th quarter of 2...
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