CMCSA Comcast Corporation

By Joe Flint 

Comcast Corp.'s new streaming service, called "Peacock," will debut in April with a slate of original programming featuring stars like Alec Baldwin and Demi Moore, in addition to exclusive streaming rights to popular NBC staples from "Parks and Recreation" to "The Office."

The service, whose name is a salute to NBC's logo, will be entering a crowded arena. Both Walt Disney Co.'s Disney+ and Apple Inc.'s TV+, are set to launch in November. HBO Max from AT&T Inc.'s WarnerMedia is expected to debut next spring.

All are looking to cut into Netflix Inc.'s share of the streaming market. Netflix has 60 million subscribers in the U.S. and another 91.5 million abroad.

Because Comcast is the nation's largest cable operator, it needs to balance its desire to create a consumer-friendly streaming service without undercutting its core pay-TV business or alienating other pay-TV operators that carry its various networks including NBC, CNBC, MSNBC and USA.

In an effort to navigate these choppy waters, Peacock is expected to be available free to Comcast's more than 21 million cable subscribers in the U.S. In addition, Comcast and NBCUniversal are also looking to strike deals with other American pay-TV providers that would allow them to offer Peacock to their subscribers free as well, a person familiar with the matter said.

Cord-cutters will be able to get access to Peacock as well but for a yet-to-be-announced monthly fee. Peacock will be supported by ads but will also offer a commercial-free version at a higher price.

Bonnie Hammer, the NBCUniversal executive in charge of Peacock, is confident that the service will stand out against the competition even if it is one of the last to launch.

"I'm not sure anybody else out there can do what we can do," Ms. Hammer said, adding "we expect to have great content and a great product." Ms. Hammer also promised a superior technical product that "is really easy to use." Peacock will start out with 15,000 hours worth of content, she said.

Like Disney+ and AT&T's HBO Max, Peacock will include original programming as well as classic shows from its television and movie libraries. Among those who will make fresh content for Peacock are NBC late-night stars Jimmy Fallon and Seth Meyers and "Saturday Night Live" mastermind Lorne Michaels. Producer Mike Schur, whose credits include "The Office" and "The Good Place," has agreed to make a new comedy for the service.

NBCUniversal has been spending heavily to reacquire streaming rights to its shows, striking a $500 million deal earlier this year for exclusive rights to "The Office" when the show's pact with Netflix expires in 2021.

Peacock will also have exclusive streaming rights to "Parks and Recreation," which is currently on Netflix.

The influx of new services will sharply increase the amount of content fighting for viewers. In 2018, there were roughly 500 original scripted shows across broadcast, cable and streaming platforms, according to data from Disney's FX Network.

This era of television has been coined "peak TV" and while the quality and diversity of content has risen dramatically, there are concerns that as new platforms proliferate, the ability for a program to break through will be difficult.

At the same time, the competition has created a gold rush for writers and producers as Netflix, Warner Bros. and other content creators spend heavily to attract top talent.

Stars signed on for Peacock's new shows include Alec Baldwin, Jamie Dornan and Christian Slater who will front the drama "Dr. Death," based on the true-crime podcast. Demi Moore will star in "Brave New World," based on the Aldous Huxley novel. Producer Sam Esmail, whose credits include "Mr. Robot," is making a new version of "Battle Star Galactica."

There will also be new versions of the NBC teen and children classics "Saved by the Bell" and "Punky Brewster."

Mr. Schur's new comedy, "Rutherford Falls," stars Ed Helms, who was on "The Office." Mr. Helms is also a co-creator of the show. Mr. Schur said the new show is better suited to a streaming service where ratings and broad appeal aren't as important as they are on traditional television.

"It's not a show I think could live on a broadcast network," he said, adding that for producers like himself, "the more places there are that make stuff, the better off you are."

NBCUniversal has also made nonexclusive deals for other vintage shows including "Cheers," "Frasier" and "Everybody Loves Raymond."

Original movies will also have a significant role on Peacock. Both Universal Studios and NBCUniversal-owned DreamWorks Animation are expected to create exclusive content for the new service.

Peacock will eventually be made available to Comcast's European pay-TV unit Sky, which has about 24 million subscribers.

Ms. Hammer said Peacock will embrace live programming as well including content from NBC News and Sports.

"We want to go beyond just having a lot of shows on the service, she said. By having fresh content from NBC News as well as sports content, Peacock can be more topical and relevant, Ms. Hammer said.

Write to Joe Flint at joe.flint@wsj.com

(END) Dow Jones Newswires

September 17, 2019 09:14 ET (13:14 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.