World Cup and Spanish-language shows lift Peacock’s streaming case

Peacock got a boost from the 2026 FIFA World Cup, and NBCUniversal says the benefit went beyond one month of soccer viewing. For Comcast investors, the takeaway is straightforward: live sports and Spanish-language programming are becoming a bigger part of Peacock’s push toward streaming profitability.

NBCUniversal’s Telemundo held the Spanish-language U.S. rights to the tournament, with Peacock serving as a streaming home. Media rights are the paid permissions that let a broadcaster or streamer show an event, and they have become one of the costliest battlegrounds in media.

The World Cup final drew record audiences in both English and Spanish, according to Nielsen data cited by Fox and NBCUniversal. Fox said nearly 39 million viewers watched across its broadcast and streaming outlets. NBCUniversal said about 24 million watched on Telemundo, Peacock and other NBC properties, making it the most watched Spanish-language soccer broadcast in the U.S.

Across the 104 matches, Telemundo and Peacock averaged 6.3 million viewers, according to NBCUniversal. Mark Marshall, NBCUniversal’s chairman of global advertising and partnerships, told CNBC that tournament revenue more than doubled from the 2022 World Cup, the last time Telemundo and Peacock carried the event.

Why Peacock matters for Comcast

Peacock had 46 million subscribers as of April 30, according to Comcast’s first-quarter disclosure cited by CNBC. The service is expected to reach profitability in the second quarter, CNBC reported. Comcast is scheduled to report earnings Thursday, after announcing on June 29 that it plans to spin off NBCUniversal.

Cesar Conde, chairman of NBCUniversal News Group, which includes Telemundo, told CNBC the World Cup brought new subscribers and introduced them to other Peacock programming. He pointed to features such as multiview and trivia as examples of how Peacock gave viewers different ways to watch the tournament.

Peacock first streamed the World Cup in Spanish in 2022. This time, Fox also had its Fox One streaming service for English-language coverage, adding competition for streaming viewers. Conde told CNBC that Telemundo and Peacock still captured a large streaming audience despite that added competition.

Sports remain central to Peacock’s strategy. NBCUniversal began airing NBA games in 2025, CNBC reported, and the Olympics have become a larger part of Peacock, with events and related programming available on the service.

Telemundo is also adding more sports rights. This week, it announced exclusive U.S. Spanish-language rights to all UEFA men’s club competitions, including the Champions League, starting with the 2027-28 season.

Spanish-language content becomes an ad story

NBCUniversal executives told CNBC that Spanish-language viewing is also helping Peacock outside sports. Marshall said advertisers are treating Hispanic consumers as a larger priority, citing a spending cohort of about $4 trillion.

Nielsen said in a 2025 report that Hispanic consumers represent about 20% of the U.S. population and more than $4.1 trillion in purchasing power. Stacie de Armas, Nielsen’s head of inclusive content and insights, said Hispanic consumers are a powerful group for brands that approach them with authenticity and insight.

NBCUniversal has also tested whether English-speaking viewers will watch Telemundo shows on Peacock. Ahead of the July 7 Season 10 premiere of “El Señor de los Cielos,” Telemundo and Peacock promoted earlier seasons with English-language ads and English subtitles.

Marshall told CNBC that after the campaign, English-subtitle viewing of prior seasons rose 42%. English-dominant viewership increased to 25% from 9%, while viewers new to Telemundo rose to 39% from 22%.

The next rights cycle could change the market again. CNBC reported that FIFA is likely to sell U.S. English- and Spanish-language rights for the 2030 and 2034 World Cups together, instead of separately. CNBC reported each tournament is expected to command between $1.5 billion and $2 billion.

This story draws on original reporting from CNBC.