Comcast to Shift New Universal Films to Peacock– Report


Comcast (CMCSA) plans to speed up the transition of content from its production studios to its Peacock streaming service. According to Reuters, movies from Universal Pictures will move exclusively to Peacock within four months after showing in cinemas.

Currently, Universal films move to streaming platforms about six months after being screened in theatres. AT&T’s (T) HBO Max and HBO TV are some of the streaming services that Universal movies go to soon after they leave cinemas.

The accelerated release of Universal movies on Peacock is set to begin next year. Animated content from Illumination and DreamWorks Animation will also move to Peacock quicker.

“By showcasing content across multiple platforms throughout the Pay-One window, (Universal) titles will constantly refresh across the streaming ecosystem ensuring no title or platform is oversaturated,” Reuters quoted the company as saying.

In addition to speeding up the release of new films on Peacock, Universal also plans to produce original films specifically for the service. According to Reuters, media companies are bringing more content to their streaming services to compete for home viewers with Netflix (NFLX), Walt Disney (DIS), and others. (See Comcast stock chart on TipRanks).

Morgan Stanley analyst Benjamin Swinburne recently reiterated a Buy rating on Comcast stock and raised the price target to $70 from $65. Swinburne’s new price target suggests 21.40% upside potential.

The analyst cited higher expectations for Comcast’s NBCUniversal and Sky businesses in reaffirming the bullish view. Swinburne sees a compelling risk/reward for Comcast stock at current levels, despite an M&A discount on shares likely persisting.

Consensus among analysts is a Strong Buy based on 15 Buys, 2 Holds, and 1 Sell. The average Comcast price target of $64.33 implies 11.57% upside potential to current levels.

CMCSA scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

Related News:
Yandex Partners with Grubhub for Autonomous In-Campus Food Delivery
French Court Hits Twitter with Hate Speech Order – Report
Daimler, Volvo, Traton to Build Electric Vehicle Charging Points

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts