Jeff Shell said that two leading economic indicators in NBCUniversal’s business are not showing signs that we are headed towards a recession.
“There’s a drumbeat in the market,” the CEO told CNBC’s Julia Boorstin at theThe exec said that two leading economic indicators in NBCUniversal’s business — namely the theme parks business and the advertising business — are not showing signs that we are headed towards a recession.
“Theme parks are going gangbusters,” Shell said of NBCU’s Universal Studios parks. “Hotel bookings are through the roof.”Shell was in good spirits after a late night at the theShell highlighted some positives for his company, including its streaming service, Peacock.“This is my first time [at Cannes Lions],” he said. “It’s awesome. It feels like a party here. It [the ad market] feels pretty upbeat.
Shell also highlighted some positives for his company, including its streaming service, Peacock, which is ad-supported, as well as an abbreviated theatrical window for movies. During the pandemic, NBCU-owned Universal Pictures led the charge in reducing the time that movies would remain in theaters before appearing on streaming.
Pre-pandemic, the window was 90 days. Now it’s just 17 days for Universal Pictures, the studio behind such franchises as “Fast & Furious,” “Jurassic Park” and “Jason Bourne.”Although Peacock was late to streaming and trails more seasoned media giants like Netflix, Disney+ and HBO Max, Shell touted the“Everything Andy Cohen touches turns to gold,” he concluded.
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