Comcast's streaming service Peacock reported a $348 million loss in the second quarter of 2024, failing to turn a profit.

Peacock attracted a significant number of new subscribers earlier in the year by streaming an NFL playoff game.

Peacock experienced a loss of 500,000 customers between the first and second quarters of 2024.

NBCUniversal's Peacock lost 500,000 customers in Q2, dropping from 33.5 million to 33 million paid subscribers.

Despite the subscriber decline from Q1 to Q2, Peacock demonstrated significant year-over-year growth, revenue increases, and reduced operating losses.

Peacock is implementing price increases, with Peacock Premium and Premium Plus rates rising to $7.99 and $13.99 per month, respectively, effective for new subscribers and transitioning for existing ones on or after August 17.

Comcast aims to attract new Peacock subscribers and reduce churn by focusing on events like the Paris Olympics.

To retain customers, Peacock is considering strategies such as offering discounts for annual subscriptions and bundling services with Netflix and Apple TV.

Comcast's $7.65 billion investment in securing Olympics media rights until 2032 has contributed to Peacock's financial challenges.

Comcast's second-quarter report revealed that Peacock's subscriber numbers were slightly inflated in Q1, with the actual count being 33.5 million instead of the reported 34 million.