Sky closes first quarter of 2021 on a positive note. The Comcast subsidiary’s revenues increased 10.6% to $5 billion compared to the same period in 2020.
Comcast reported revenues up 2.2% to $27.2 billion in the first quarter of 2021, with Sky and Peacock posting strong results. Nbc Universal’s overall performance was down, particularly its theme park division.
Three drivers underpinned growth: higher direct-to-consumer revenues, growth in advertising revenues and content revenues.
Sky‘s revenues reach $5 billion in Q1 2021. The figures in Comcast’s first quarterly report for 2021 refer to the entire Sky group (Italy, Germany, Austria, the UK and Ireland). The company reported a 10.6% increase in revenues compared to the same quarter of 2020. Specifically, the direct-to-consumer area generated revenues of $4.1 billion (+1.8%), while advertising revenues grew by 3.4%, to $574 million. Content revenues grew 1.7% to $358 million. Total subscribers stood at 24.4 million, up 221,000 in the quarter.
In addition, the company’s sports programming and production strengthened its football offering by securing another major European rights deal.
Just a few days after announcing the rights to Serie B football in Italy for the three-year period 2021/2024, Sky also acquired the rights to the Bundesliga for the 2021/2025 seasons and Ligue 1 for the 2021/2024 seasons.
Revenues from NbcUniversal, on the other hand, were down 9.1% to €7 billion. Revenues from the Media area were up 3.2% to €5 billion. This result was due to higher distribution revenues, which partly offset the decline in advertising sales (-3.4%). Studio revenues, on the other hand, were down: -0.6% to 2.4 billion, while the Theme Parks area posted a 33.1% drop (to 619 million), due, of course, to the pandemic. Peacock, NbcUniversal’s on-demand service, reached 42 million subscribers in the US: Comcast attributes the increase in subscribers to The Office and the rights to Wwe wrestling. The group also points out that from this quarter Peacock’s results are included in those of Nbc Universal and no longer in Comcast’s Corporate area.
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