The streaming bubble has been predicted to burst for several years now, but with the AI influx being joined by writers and actors striking at the same time as many of the heaviest on-demand hitters are singled out for criticism, it’s beginning to look increasingly likely that we’re really on the precipice this time.
Proving beyond all reasonable doubt that we truly live in the most bizarre timeline, Comcast’s most recent earning calls has essentially told the world that The Super Mario Bros. Movie has single-handedly saved the company from fiscal disaster, with the animated phenomenon’s $1.3 billion take at the box office elevating theatrical revenue by over 60 percent all on its lonesome.
Not only that, but despite adding two million subscribers between April and June, Peacock still conspired to lose an eye-watering $651 million in the space of those three months alone, with the platform’s total losses set to top $3 billion for 2023. If Quibi taught us anything, it’s that any streamer should probably learn to crawl before it gallops into a sprint, and it’s not as if Peacock has a massive amount of content that can justifiably be called unmissable or appointment viewing.
The biggest question is obviously how long the service can keep shedding such vast amounts of cash without being dragged round the back and put out of its misery, because at this profitability is surely little more than a fanciful pipe dream for the foreseeable future.
We’ve gone from Netflix sending DVDs in the mail to would-be rivals losing billions upon billions annually in the space of two decades, which leaves you wondering how on earth this is going to be manageable moving forward.
