Launch Of Peacock Streaming Service Aims To Offset Declines In Comcast’s Cable Business

On Wednesday, NBC Universal, which is owned by Comcast, is set to enter a crowded streaming market. The launch of the Peacock national streaming service will offer 20,000 hours of content. Among others, the content will include NBC shows such as Cheers, 30 Rock, and Saturday Night Live.

In April, the availability of service to Comcast Corp subscribers is an extended effort by the media giant to offset declines in Comcast’s cable TV business. They are also looking to find a new way to monetize NBC and Universal content. Peacock is set to include a healthy mix of news, NBC series, original shows, and sports; this includes some of the famous dystopian drama, Brave New World, and documentary- In Deep with Ryan Lochte.

Additionally, unlike most of its video streaming rivals, Peacock is set to offer a free version with ad-supported. This version will include more than 7,500 hours of programming. NBCUniversal is hoping to lure customers as well as advertisers through the data which can be used to target commercials based on viewers’ interests. It also includes data from Comcast’s cable TV set-top boxes.

The two other options offered by Peacock include a $4.99 with 20,000 hours of programming with is per month service with commercials; and another is an ad-free version costing about $9.99 per month.

NBCUniversal was set to broadcast its network at the Tokyo Summer Olympics, however, Peacock missed the opportunity as they were postponed due to the coronavirus outbreak. Being the last entry into the streaming war, Peacock has to now compete with services such as Netflix Inc, Amazon.com Inc’s Amazon Prime Video, and Walt Disney Co-owned Disney+ for streaming dollars

However, Peacock’s option to opt for free version can become a game-changer as it could draw viewers who already have maxed out their entertainment budgets or who are hungry for more content as they are stuck at home. Reportedly, according to Deloitte, since the initial period of the pandemic about 23% of the U.S. consumers have at least added one new paid streaming video service.