• by Wayne Friedman , October 26, 2023

Still reeling from overall TV/video advertising market softness, NBCUniversal advertising revenue sank 8.4% to $1.9 billion in the third quarter of this year, according to parent company Comcast Corp.

Overall NBCUniversal media revenue inched up 0.4% to $6 billion -- all due to distribution revenue which rose 3.8% to $2.6 billion. NBCU’s cash flow rose 6.5% to $723 million.

Comcast Corp. local cable TV advertising sales also dropped 12.4% to $960 million -- due to domestic political advertising declines from a year ago. 

NBCU’s premium streaming service Peacock rose four million subscribers to 28 million, with revenue climbing 64% to $830 million. 

Peacock was able to narrow its losses -- to $565 million in adjusted earnings before interest taxes depreciation and amortization (EBITDA) -- from $614 million in the prior year period.

Comcast Corp. slipped in its broadband customers by 17,000 in the period to 29.78 million, with domestic cable video customers losing 490,000 customers to 14.5 million.

Corporate-wide Comcast Corp. revenue inched up  1% to $30.1 billion for the period with adjusted net income up 6.2% to $4.5 billion.

Mid-day Thursday trading of Comcast Corp. stock was down 7% to $39.75.