Epic Universe is under construction, Oppenheimer was one of summer’s biggest hits in theaters, and NBC’s streaming service Peacock seems successful.
Despite these wins for parent company Comcast, the stock saw a slump after the company’s Q3 earnings report.
Thanks to new additions like Super Nintendo World, Comcast reported the highest quarterly profit ever for its theme parks division. The revenue was driven by the popularity of Super Nintendo World at Universal Studios Hollywood, according to CNBC.
Overall, Comcast’s theme park revenue rose 17% in Q3 — reaching $2.42 billion, per Wall Street Journal.
NBCUniversal’s Peacock streaming service also added four million new subscribers, bringing the total number of subs to 28 million, according to Wall Street Journal.
Despite these wins, CNBC reported, “Comcast lost 18,000 high-speed broadband customers in the quarter and 490,000 video subscribers as Americans continue to drop traditional cable TV for streaming services.”
On Thursday, October 26th, Comcast’s shares fell more than 6%. Much like The Walt Disney Company, the theme park division is bringing in some increased revenue, while the traditional cable TV division struggles to compete with streaming services. In the meantime, we’re always on the lookout for the latest entertainment news, so stay tuned for more.
VIDEOS: Your Complete Guide to Universal’s Super Nintendo World
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Adding 4 million Peacock subscribers is irrelevant when it does not even come close to offsetting the nearly 500,000 cable TV subscribers they lost. The game of crappy service and price gouging by cable TV companies is coming to a quick end.