Comcast reported revenues of over $121.5 billion in 2023, generating free cash flow of $12.9 billion, much the same as the previous year. The number of traditional television subscribers Comcast had in the United States fell by over 2 million over the year to 14.11 million. The number of Peacock subscribers rose by 3 million in the last quarter to 31 million, delivering over $1 billion in quarterly revenue for the first time, although it continues to operate at a loss. The Sky operation in the United Kingdom and Europe barely made a footnote in the figures.
Comcast reported 17.85 million customer relationships internationally for what it describes as residential connectivity and platforms. That was down by 111,000 on the previous year. Within the United States it was down by 74,000 to 31.65 million, taking its global total to 52.14 million, down slightly from 52.42 million the previous year.
The number of traditional cable television customers in the United States has fallen to 14.11 million, down from 16.14 million at the end of the previous year and from 18.18 million at the end of the year before that.
Since the start of 2023, Comcast has consolidated Sky results under its two main business areas, connectivity and platforms, and content and experiences, with some under corporate and other.
It makes it difficult to tell how Sky is faring within the overall group, which includes network television, movie studio and theme park businesses.
Selling internet access is the single largest revenue stream. Residential connectivity accounted for $33.36 billion in revenue in 2023.
In comparison, Peacock contributed $3.37 billion in revenue over the year, up from $2.08 billion in 2022. Furthermore, Peacock cost $6.14 billion, producing an operating loss of almost $2.75 billion over the year.