Comcast set to spend US$2 billion on Peacock in first two years

NEW YORK – A Comcast Corporation executive told a banking conference on Monday it will spend about US$2 billion to get its new streaming service, dubbed Peacock, off the ground and launched in 2020.Michael Cavanagh, Comcast’s chief financial officer told the annual UBS Technology, Media and Telecom conference there is plenty of room for yet another streamer, especially since Peacock will be coming to market with a differentiated (and cheaper for consumers) business model – focusing on ad-supported video-on-demand (AVOD).Comcast’s research shows 80% of those who subscribe to premium SVOD services online would put up with a “reasonable amount of...