Comcast Bets Big on Sports After Warner Loss; Peacock Hits 44M Subs, Q4 Losses Hit $552M

Comcast pivots to sports-driven growth after losing the Warner Bros. bid, banking on Winter Olympics, Super Bowl, NBA, and World Cup broadcasts via NBCUniversal in 2026. Peacock streaming surged to 44M subscribers with 23% revenue growth to $1.6B, but Q4 losses widened to $552M due to NBA rights and exclusive NFL game costs. Executives say Peacock cut annual losses by $700M vs. 2024’s $1.1B deficit, though profitability remains distant. Comcast spun off profitable cable networks into “Versant” as it shifts from legacy TV to integrated media anchored by sports, studios, and theme parks. Q4 revenue rose slightly to $32.3B; adjusted EPS fell 12% to 84 cents. Theme parks revenue jumped 22% to $2.9B, while studio revenue dropped 7.4%. Shares rose 4.3% to $29.63.