Comcast's (NASDAQ: CMCSA) Peacock streaming service has gained a lot of momentum since its launch in April 2020. It's a momentum that couldn't come at a more crucial time for the cable and media company.

The streaming service, which includes a free and a premium tier, accounted for 1% of all television viewing in December, according to Nielsen's latest The Gauge report. It's the first time Peacock reached the necessary level for Nielsen to break out its results from other streaming services, and it's yet another indication Peacock is seeing strong engagement growth.

With cord-cutting continuing to weigh on Comcast's results, the shift to streaming is extremely important. Management increased its investment in streaming content last year, and investors will be looking for that bet to pay off. It looks like it's working so far.

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Source Fool.com