NBC has long been known as the Must See TV network, a slogan first coined in 1993. Now, 30 years later, the network is struggling with a lack of Must See TV for its Peacock streaming service, as subscribers are choosing Hulu, Disney+, Paramount+ and more, over Peacock.
As per the latest figures, Peacock has only 20 million paid customers with 30 million total active users including their free accounts. That compares to 55.9 million Paramount+ subscribers, 161.8 million Disney+ subscribers, and 39.4 million Hulu subscribers.
Many of Peacock’s competitors have big name shows or brands promoting subscriptions. Paramount+ has Star Trek, Disney+ has Mickey Mouse, Marvel, and more, and Hulu has great original content, but Peacock still lacks must-see shows that would generate subscriptions.
To help fix this, NBC moved some shows from NBC to Peacock, including the long-running show ‘Days of Our Lives’.
According to Rotten Tomatoes, some of Peacock’s best original shows are probably shows you’ve never heard of if you haven’t subscribed to the service, including ‘We Are Lady Parts,’ ‘The Amber Ruffin Show,’ and more.
Peacock’s announcement by NBCUniversal included several big shows that have yet to be released, including a new series Battlestar Galactica. Sadly, years later, we still don’t have a Battlestar Galactica show and no word on when it might come out.
So instead of the original must-watch TV, NBC is hoping sports can save its struggling Peacock service. Recently, NBC moved some sports to be Peacock-only and struck a deal with the Big Ten to bring some of their games to Peacock. The question now is, will sports fans stick around or just sign up to see a game?
NBC still owns about 1/3 of Hulu, but expects Disney to exercise its option to buy NBC’s stake in Hulu as early as 2024. Recently, NBCUniversal pulled much of its content from Hulu in an effort to make subscribers to switch to Peacock, but unfortunately that didn’t happen as Peacock only added 2 million subscribers in the 3third quarter of 2022.
So this leaves NBCUniversal in a tough spot as its competitors grow rapidly and the market becomes more crowded. The lack of mandatory TV is causing Peacock the service cord cutters to be jumping.
Comcast recently announced plans to stop offering Peacock’s free plans to select Comcast Xfinity customers. The hope is that these customers will start paying, but many are skeptical of this plan.
For now, Peacock will likely continue to fall behind, as their new Big Ten deal won’t kick off until the fall of 2023. Unless they can find some success they should be watching TV shows that get people talking, there are few reasons now to change. to Peacock.