A List of the Key Numbers You Need to Know From OTT Platforms’ Q1 Earnings
I’ve condensed the key numbers from OTT platforms’ Q1 earnings into a list you can read in one minute. The data you need to know, without any fluff. If you are in the industry, you need to know the following:
– Comcast ๐ฎ๐ฑ๐ฑ๐ฒ๐ฑ ๐ฑ๐ ๐ฃ๐ฒ๐ฎ๐ฐ๐ผ๐ฐ๐ธ ๐๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ๐ฟ๐, to end Q1 with 41M. Revenue of $1.2B, up 16% YoY, on an ๐๐๐๐ง๐๐ ๐น๐ผ๐๐ ๐ผ๐ณ $๐ฎ๐ญ๐ฑ๐ , down from $639M YoY. Comcast ๐น๐ผ๐๐ ๐ฐ๐ฎ๐ณ,๐ฌ๐ฌ๐ฌ ๐ฝ๐ฎ๐ ๐ง๐ฉ ๐ฐ๐๐๐๐ผ๐บ๐ฒ๐ฟ๐, ending Q1 with 12.1M domestic video customers.
– Paramount ๐ฎ๐ฑ๐ฑ๐ฒ๐ฑ ๐ญ.๐ฑ๐ ๐ฃ๐ฎ๐ฟ๐ฎ๐บ๐ผ๐๐ป๐+ ๐๐๐ฏ๐, ending the quarter with 79M. DTC revenue of $2.01B, up 9% YoY, ๐ป๐ฎ๐ฟ๐ฟ๐ผ๐๐ฒ๐ฑ ๐๐๐ฟ๐ฒ๐ฎ๐บ๐ถ๐ป๐ด ๐๐ผ๐๐ ๐ฒ๐ฎ% ๐๐ผ $๐ญ๐ฌ๐ต๐ . Advertising revenue was 23.1% of DTC revenue.
– WBD ๐ฎ๐ฑ๐ฑ๐ฒ๐ฑ ๐ฑ.๐ฏ๐ ๐๐ง๐ ๐๐๐ฏ๐ to end Q1 with 122.3M subs. DTC revenue of $2.65B, up 8% YoY, with ๐ฝ๐ผ๐๐ถ๐๐ถ๐๐ฒ $๐ฏ๐ฏ๐ต๐ ๐ฎ๐ฑ๐ท๐๐๐๐ฒ๐ฑ ๐๐๐๐ง๐๐. Advertising made up 10.2% of DTC revenue.
– Disney ๐ฎ๐ฑ๐ฑ๐ฒ๐ฑ ๐ญ.๐ฐ๐ ๐๐ถ๐๐ป๐ฒ๐+ ๐๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ๐ฟ๐ (126M total); Hulu SVOD gained 1.3M subs (50.3M total), ๐๐๐น๐ + ๐๐ถ๐๐ฒ ๐ง๐ฉ ๐น๐ผ๐๐ ๐ฎ๐ฌ๐ฌ,๐ฌ๐ฌ๐ฌ ๐๐๐ฏ๐ (4.4M total); ๐๐ฆ๐ฃ๐ก+ ๐น๐ผ๐๐ ๐ด๐ฌ๐ฌ,๐ฌ๐ฌ๐ฌ ๐๐๐ฏ๐ (24.1M total). DTC business and ESPN+ combined had an ๐ผ๐ฝ๐ฒ๐ฟ๐ฎ๐๐ถ๐ป๐ด ๐ถ๐ป๐ฐ๐ผ๐บ๐ฒ ๐ผ๐ณ $๐ฏ๐ฏ๐ฒ๐ .ย Disney’s DTC ESPN offering will offer two plans: ๐๐ฆ๐ฃ๐กโ๐ ๐๐ป๐น๐ถ๐บ๐ถ๐๐ฒ๐ฑ ๐ฝ๐น๐ฎ๐ป ๐ฐ๐ผ๐๐๐ $๐ฎ๐ต.๐ต๐ต ๐ฝ๐ฒ๐ฟ ๐บ๐ผ๐ป๐๐ต and its ๐๐ฒ๐น๐ฒ๐ฐ๐ ๐ฝ๐น๐ฎ๐ป ๐ฐ๐ผ๐๐๐ $๐ญ๐ญ.๐ต๐ต ๐ฝ๐ฒ๐ฟ ๐บ๐ผ๐ป๐๐ต.
– Fubo’s North America ๐๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ๐ฟ๐ ๐ฑ๐ฒ๐ฐ๐น๐ถ๐ป๐ฒ๐ฑ ๐ฎ.๐ณ% YoY to 1.47M. ๐๐ฑ ๐ฟ๐ฒ๐๐ฒ๐ป๐๐ฒ ๐ผ๐ณ $๐ฎ๐ฎ.๐ฑ๐ ๐๐ฎ๐ ๐ฑ๐ผ๐๐ป ๐ญ๐ณ% ๐ฌ๐ผ๐ฌ, due to Fubo dropping WBD and TVU networks.
– Roku’s Q1 total ๐ฟ๐ฒ๐๐ฒ๐ป๐๐ฒ ๐๐ฎ๐ $๐ญ.๐ฌ๐ฎ๐, ๐๐ฝ ๐ญ๐ฒ%ย YoY; Platform revenue was $881M, up 17% YoY. Devices revenue of $139M, up 11% YoY. FCF of $298.4M, down 30% YoY. ๐ก๐ผ ๐น๐ผ๐ป๐ด๐ฒ๐ฟ ๐ด๐ถ๐๐ฒ๐ ๐ผ๐๐ ๐๐ต๐ฒ ๐ป๐๐บ๐ฏ๐ฒ๐ฟ ๐ผ๐ณ ๐พ๐๐ฎ๐ฟ๐๐ฒ๐ฟ๐น๐ ๐ฎ๐ฐ๐๐ถ๐๐ฒ ๐๐๐ฟ๐ฒ๐ฎ๐บ๐ถ๐ป๐ด ๐ฎ๐ฐ๐ฐ๐ผ๐๐ป๐๐.
– Netflix revenue of $10.54B, up 13% YoY. FCF of $2.66B. Expects ad revenue to “roughly double” in 2025. Still forecasting full year 2025 FCF of about $8B. ๐ก๐ฒ๐๐ณ๐น๐ถ๐
โ๐ ๐ฎ๐ฑ ๐๐ถ๐ฒ๐ฟ ๐ต๐ฎ๐ ๐ฟ๐ฒ๐ฎ๐ฐ๐ต๐ฒ๐ฑ ๐ต๐ฐ๐ ย ๐ด๐น๐ผ๐ฏ๐ฎ๐น ๐ ๐๐จ๐, ๐๐ฝ ๐ณ๐ฟ๐ผ๐บ ๐ณ๐ฌ๐ ย ๐ ๐๐จ๐ ๐ฎ๐ป๐ป๐ผ๐๐ป๐ฐ๐ฒ๐ฑ ๐ถ๐ป ๐ก๐ผ๐๐ฒ๐บ๐ฏ๐ฒ๐ฟ.
– EchoStar lost 380,000 DISH pay TV customers, of which ๐ฆ๐น๐ถ๐ป๐ด ๐ง๐ฉ ๐บ๐ฎ๐ฑ๐ฒ ๐๐ฝ ๐ญ๐ต๐ด,๐ฌ๐ฌ๐ฌ ๐ผ๐ณ ๐๐ต๐ผ๐๐ฒ ๐น๐ผ๐๐๐ฒ๐. Sling TV ended Q1 with 1.89M subscribers.
* ๐ฃ๐ฎ๐ ๐ง๐ฉ ๐ฝ๐ฟ๐ผ๐๐ถ๐ฑ๐ฒ๐ฟ๐ ๐ฎ๐ป๐ฑ ๐๐ ๐ฉ๐ฃ๐๐ ๐น๐ผ๐๐ ๐ฎ ๐ฐ๐ผ๐บ๐ฏ๐ถ๐ป๐ฒ๐ฑ ๐ญ.๐ณ๐ฑ ๐บ๐ถ๐น๐น๐ถ๐ผ๐ป ๐น๐ถ๐๐ฒ ๐ง๐ฉ ๐๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ๐ฟ๐ ๐ถ๐ป ๐ค๐ญ (excluding YouTube TV and DIRECTV).