In revamping new financial reporting segments for NBCUniversal, Comcast's recast 2020 results show its new Peacock streaming service had a net loss of $914 million in 2020, according to a new SEC filing.
Results are for adjusted earnings before interest, taxes, depreciation and amortization, defined by Comcast as either net income or net loss.
At the same time, full-year revenue for Peacock totaled $118 million. The service launched in April 2020.
New industry segments for NBCUniversal will be: Media, which will include broadcast and cable TV networks, TV stations, and Peacock; Studios, which will include NBCUniversal film and TV studio production and distribution operations; and Theme Parks, which will include all Universal theme-park operations.
The company says the reorganized operating structure puts its TV and streaming businesses into a centralized structure “optimizing content creation, distribution and monetization.” The operations of Peacock were previously reported in Corporate and Other segment.
The new structure is beginning in the first quarter of 2021.
Advertising on all NBCUniversal networks, TV stations, streaming and other platforms declined 10% to $8.3 billion in 2020 versus the year before, while distribution fees slipped 1% to $8.8 billion.
Big theme park and theatrical revenue declines contributed to total NBCUniversal revenue falling 20% to $27.2 billion for 2020.