Comcast Just Announced a Price Hike for Peacock. Can the Service Be Profitable by Next Year?
(NASDAQ: CMCSA) management once said it expects to break even on its Peacock streaming service by 2024. But management's no longer confident it can hit that mark.
That's not stopping the team from pushing forward with initiatives to increase revenue and offset the growing costs of content on the service. The media company announced its first-ever price hike, asking customers to pay an extra dollar or two for the service starting next month.
The move should help improve profitability for Peacock, but there's still a long way to go and a lot of hurdles in the way. Meanwhile, accelerating cord-cutting could put even more pressure on the company to make streaming profitable.
Source Fool.com
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