NBCUniversal and YouTube ink deal to embed Peacock into YouTube Premium

Scott Mlyn | CNBC

NBCUniversal's Peacock is officially landing on YouTube.

Key Details

• NBCUniversal and YouTube have reached a multiyear deal that will see Peacock integrated into the platform for YouTube Premium subscribers in the U.S.
• Slated for early 2027, all Peacock content — including sports like the NFL and NBA, Universal films, and Bravo originals — will be included in YouTube subscriptions.
• The partnership comes weeks after Comcast announced NBCUniversal would split from its parent company.

What's Included

All of Peacock's content will be available to YouTube Premium subscribers in the U.S. starting early next year, including:

• NBC Sports portfolio: NFL and NBA
• Universal films: The Minions franchise and others
• Original Peacock and Bravo content: The Real Housewives franchise and "Love Island USA"

Pricing Context

• YouTube Premium: Begins at $8.99 per month (ad-free viewing, video downloads depending on tier)
• Peacock Premium: Currently $10.99 per month

How the Deal Came Together

The partnership was formed after Comcast co-CEO Brian Roberts reached out to YouTube CEO Neal Mohan about nine months ago, according to a person familiar with the matter. Following a meeting between executive teams at Google offices, the two companies began brainstorming partnerships such as this, the source added.

Industry Context

NBCUniversal's partnership with YouTube arrives at a fast-moving moment in the industry:

• Traditional media companies like Comcast-owned NBCUniversal, Warner Bros. Discovery, and Disney have been pursuing initiatives to boost revenue and profitability.
• Tech platforms like YouTube and TikTok are capturing increasing shares of viewership time.
• Media companies are reshaping as consumers shift from pay-TV bundles to streaming.

Recent industry moves include:

• Paramount Skydance has agreed to acquire WBD.
• Fox Corp. reached a deal to acquire Roku.
• Comcast is preparing to spin off NBCUniversal in the next year.

How It Works

While streaming services have been announcing a growing slate of bundles to attract subscribers, this partnership goes further: Peacock's content will live inside YouTube — or be ingested into the platform — so viewers do not have to leave YouTube to access it.

Subscriber Numbers

• YouTube Premium: Over 125 million global Premium members, according to YouTube's subscription page.
• Peacock: 48 million paying subscribers as of June 30, and the platform hit profitability for the first time during the most recent quarter, NBCUniversal reported last week.

During Comcast's earnings call with investors, co-CEO Mike Cavanagh — who will become CEO of NBCUniversal following the separation — said he expects Peacock to remain profitable on an annual basis in the future, with some fluctuation between quarters.

Extended Agreements

The partnership announced Monday also extends:

• NBCUniversal's multiyear distribution agreement with YouTube TV (the streaming-only TV bundle run by YouTube)
• Distribution of YouTube, YouTube TV, and Premium on Comcast's Xfinity-branded cable TV and Xumo platforms

Advertising Partnership

The deal will also enhance the advertising partnership and capabilities between the two companies, allowing NBCUniversal to monetize advertising for its Peacock content on YouTube's platform. Advertising has become a key driver of streaming growth across media companies.

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