NBCU Core Ads Increase by 4.7% with Peacock as a Key Factor

NBCUniversal’s domestic advertising revenue, excluding exceptional events like the Milan Cortina Olympics and the Super Bowl, saw a solid 4.7% increase to $1.5 billion in the first quarter of this year. The boost was largely due to a new NBA programming deal, particularly shining through on the Peacock streaming platform, which now makes up 26% of NBCU’s total ad revenues.

The Milan Cortina Olympics brought in $1.16 billion in ad revenue, while the 2026 Super Bowl generated $758 million. When we set aside these major sports events, the growth in domestic advertising revenue was mainly thanks to higher earnings from Peacock, slightly offset by lower revenues from their networks, according to a recent Comcast Corp. earnings report.

Looking back at the fourth quarter, NBC saw a 1.5% increase in core domestic advertising, with over $1.9 billion in revenue linked to the Olympics and the Super Bowl. Distribution revenues in the same period shot up by 37% to $2.3 billion, largely driven by Peacock. Without the Olympic factor, revenue rose by 12%.

Overall, NBCUniversal’s revenue climbed by 61% to $7.3 billion, largely due to the Olympics and the Super Bowl. Conversely, operating expenses spiked by 74% to $7.7 billion due to investments in NBA and sports programming.

While Comcast’s broadband and video business faced challenges, with domestic broadband down by 5.1% to $6.3 billion and video subscriber revenues decreasing by 8% to $6.3 billion, analysts note that Comcast exceeded revenue expectations, with improvements seen in broadband losses.

Comcast Corp. systems advertising revenue also saw a 3% growth to $951 million, which includes the FreeWheel ad tech/ad serving platform business. Overall, Comcast’s revenues outperformed expectations, leading to an 8% increase in stock market trading for Comcast Corp. shares to $31.68 in mid-day Thursday trading.