Comcast Targets Return to “Total” Media Business Profit Even Amid Peacock Losses

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“We are very much looking at how to run the media businesses in total to get to a place in due course where the bottom line of the total business is a grower again,' president Michael Cavanagh said at an investor conference.

In content, “our growth there is really all around Peacock,” he said on Wednesday, noting $2 billion in revenue last year and reiterating that the streaming business expects to hit peak losses this year. “But we are very much looking at how to run the media businesses in total to get to a place in due course where the bottom line of the total business is a grower again.”

“If we were sitting here three, four or five years ago, the prospect for the way the leaders were kind of running away with the prize with a belief in a business model that was of such a high degree of certainty that people were saying, ‘you guys got no shot’,” Cavanagh said. “I don’t think it’s so clear where that is all going. That speaks to we got to manage our way through, there is a pivot in some of these businesses.

With the future of the Hulu partnership between Disney and Hulu being discussed widely these days, Cavanagh was asked if he sees Disney buying full control from Comcast next year or a different outcome, either NBCU acquiring Disney’s two-thirds stake in Hulu or maybe creating a new partnership. After all, Comcast can

 

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