• Loading stock data...
Friday, August 1, 2025
Tuned In returns to NYC on September 16. Hear from the biggest names in sports media. Click here to get your spot

Comcast Bets Big on Sports, but NBA Price Tag Looms Large

As Comcast delivered a mixed earnings report, its rising sports profile is also creating some disparate financial effects.

Jeff Hanisch-USA TODAY Sports

Sports programming is driving more big results for NBC Sports parent Comcast Corp., but also creating some potential financial pitfalls for the company.

The company said Thursday that sports generated “record total sales” and “our largest sports commitments to date” for its recently concluded upfront, particularly through a historic confluence in February 2026 between the Winter Olympics in Italy, Super Bowl LX, and the NBA All-Star Game. It further lauded Peacock and what it called “the most robust live sports offerings on any streamer, and that position will only strengthen with the addition of NBA coverage this fall.”

The arrival of the NBA and its $2.5 billion annual-rights fee, however, is also creating a full year’s worth of cost amortization to the company that will be incurred in the fourth quarter of this year. The NBA rights fees also helped fuel a recent $3 per month price increase implemented for most Peacock streaming plans. 

“We’ve talked about all the reasons we like the NBA so much before. But it’s a big investment,” said Comcast president Mike Cavanagh in an earnings call Thursday, referring in part to the league’s global appeal and its ability to help round out the company’s annual sports programming lineup. 

The company additionally said there will be a tough earnings comparison coming in the third quarter due to the historic revenue and viewership boosts generated last year for the Paris Olympics. That situation, however, is expected to turn with the high-profile start expected for 2026.

Cable Considerations

A spin-off of most of Comcast’s cable television networks into a separate company called Versant remains on track for completion later this year. Executives, however, did not address a recent report that the company is developing a new sports-related linear channel to help complement programming on Peacock. The separation will protect Comcast from a significant part of downside risk from the ongoing decline of linear television. 

“Everything is tracking really nicely to have Versant launch at the beginning of next year, end of this year into next year,” Cavanagh said. “Great leadership team, lots of energy. The work is well underway. I think they will hit the ground running.”

Broader Results

Comcast, meanwhile, posted a mixed report for its second-quarter earnings. The company saw both its linear TV and internet connectivity subscribers fall again, continuing a downward trend from 2025’s first quarter, while Peacock stayed flat at 41 million subscribers. 

Conversely, revenue of $30.3 billion, up 2%, and net income of $11.1 billion, up 183%, both beat analyst expectations. Despite the flat Peacock subscriber total, the streaming service continues to move closer to profitability, trimming its adjusted quarterly loss to $101 million from a comparable $348 million in the same period last year, while boosting revenue by 20% to $1.2 billion. 

“Over time, we’ll have the opportunity to drive Peacock subscribers higher as we leverage the NBA and other content and the continuation of consumer trends moving from the linear ecosystem to the streaming ecosystem,” Cavanagh said. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mikal Bridges Takes $6M Discount To Help Knicks Avoid Second Apron

Bridges agreed to a four-year, $150 million extension on Thursday.
Apr 25, 2025; Minneapolis, Minnesota, USA; Los Angeles Lakers guard Luka Doncic (77) looks on against the Minnesota Timberwolves in the first half during game three of first round for the 2024 NBA Playoffs at Target Center.

Luka Dončić Eligible to Sign $229M Extension Saturday

Dončić can sign a four-year, $229 million extension on Aug. 2.
Troy Taylor

Ex-Stanford Coach Troy Taylor Sues ESPN for Defamation

Taylor was fired after a pair of 3–9 seasons.
opinion

Could Chad Ochocinco Be ESPN’s Shannon Sharpe Replacement?

ESPN moved on from Sharpe after he settled a sexual assault lawsuit.

Featured Today

Las Vegas sign

College Sports Embracing Vegas After Years of Cold Shoulder

The Big Ten became the latest newcomer to Sin City.
2000, Jupiter, FL, USA; FILE PHOTO; Montreal Expos pitcher Hideki Irabu in action on the mound against the New York Mets at Roger Dean Stadium during Spring Training
July 28, 2025

Dead Sports Franchises Are Alive and Well on Twitter

The Expos, Sonics, and Whalers have active social media accounts.
Limited Hype
July 27, 2025

Sneaker Reselling Was Once Easy Money. Success Is Now Complicated

Vendors need to evolve what they’re selling and how they do it.
HAPPY GILMORE 2. BTS - (L to R) Adam Sandler as Happy Gilmore and Rory McIlroy as himself on the set of Happy Gilmore2.
July 26, 2025

‘Cool As Hell’: How ‘Happy Gilmore 2’ Hooked Golf’s Top Stars

The process was “cool as hell,” Adam Sandler tells FOS.

Shannon Sharpe Out at ESPN Following Rape Suit Settlement

He’s been off-air since April, planning to return for the NFL season.
July 29, 2025

NFL Insiders Delivered Crucial Updates Around Midtown Shooting

Top NFL reporters reached sources at the scene of the shooting.
July 30, 2025

Sophie Cunningham Gets Podcast With Cowherd’s Volume, Continuing Breakout

Cunningham’s podcast deal is the latest in a breakout summer.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
opinion
July 28, 2025

Why Rumors Nick Saban Could Leave ESPN for Coaching Aren’t Crazy

Saban has not fully ruled out a coaching comeback as rumors swirl.
Jan 20, 2025; Atlanta, GA, USA; Sports personality Stephen A. Smith arrives before the CFP National Championship college football game between the Notre Dame Fighting Irish and the Ohio State Buckeyes at Mercedes-Benz Stadium.
opinion
July 24, 2025

Why Stephen A. Smith Could Succeed in Dwindling Late-Night TV Era

The face of “First Take” has shown interest in talk-show hosting.
exclusive
July 23, 2025

ESPN Locks in Bulk of Bill Belichick’s First UNC Season

The network’s ACC media rights deal will pay off this season.
Mar 29, 2025; Houston, Texas, USA; View of a camera with a Fox Sports logo before the game between the Houston Astros and the New York Mets at Daikin Park.
exclusive
July 23, 2025

Parkins Joins Expanded ‘First Things First’ As FS1 Completes Transition

He’ll join Nick Wright, Chris Broussard, and Kevin Wildes.