Peak TV Has Flown the Coop, But Peacock is Soaring

Peacock Rises Above the Competition as Other Streaming Services See a Decline in Content

In a surprise move, Peacock has bucked the trend of other major streaming services, which released fewer original seasons in the second quarter of 2024 compared to the same period last year. According to a HarrisX study, Peacock is the only service that did not experience a year-over-year decline in second-quarter minutes streamed.

While Netflix, Amazon, Hulu, and Disney+ all saw a decrease in content released during the quarter, Peacock maintained its consistency, releasing eight new original seasons of TV in Q2 2024, the same as it did in the second quarter last year. This consistency has paid off for Peacock, with the streamer experiencing the quarter’s best penetration of U.S. households, growing 220 basis points to 21 percent.

Some notable highlights for Peacock in Q2 2024 include the release of kids’ movie “Migration” on April 19 and May’s premiere of “The Tattooist of Auschwitz.” Additionally, all six seasons of the TV show “Community” became available on the platform on April 1, and the second season of the original series “We Are Lady Parts” debuted on May 30.

Peacock’s success can also be attributed to its recent exclusive NFL playoff game, which brought in 3 million new subscribers. This subscriber growth was further boosted by the fact that most of these new subscribers stuck around.

The third quarter is shaping up to be Peacock’s best yet, thanks in part to its exclusive streaming rights to the 2024 Summer Olympics, which take place from July 26 to August 11 in Paris. This is the first time Peacock will have live-streamed the Olympics, following its original plans to launch with the 2020 Summer Olympics, which were canceled due to the COVID-19 pandemic.

Overall, Peacock’s consistency and strategic partnerships have helped it rise above the competition, making it a major player in the streaming market.