December 9, 2023

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Jeff Shell, CEO of NBCUniversal, is stepping down after an inquiry

NBCUniversal also owns several cable networks, including Bravo and E! and MSNBC and USA, which are facing declining viewership for traditional television. Its broadcast network NBC also lost viewers to its prime time programming.

Although Universal Pictures is not the biggest movie studio in Hollywood, it is a huge success. Some of the highlights of 2022 include “Jurassic World: Dominion” and “Minions: Rise of Gru”. The year started off stronger, with “The Super Mario Bros. Movie” closing in on global ticket sales of $900 million after just three weekends in theaters, making it the company’s highest-grossing animated film in its history.

Other highly anticipated films slated for release this year include the tenth installment in the “Fast and Furious” series, along with Christopher Nolan’s highly anticipated Oppenheimer film about the famous nuclear physicist. The studio has also begun a flexible distribution strategy that uses tiered screening between theaters and its streaming service, Peacock, for larger films. For smaller titles, like “Marry Me” starring Jennifer Lopez, and the horror movie “Firestarter,” which both came out last year, the theatrical debut and streaming debut are in sync.

The company’s parks were also a bright spot, as rising attendance and guest spending drove record profits last year. The company plans to open theme parks in Las Vegas and Frisco, Texas, in the next several years.

NBCUniversal’s news group, which includes MSNBC, NBC News, and CNBC, is trying to offset sector-wide declines in traditional viewership with its ad-supported news streaming service, NBC News Now, and new products for subscribers, including the CNBC Pro service. And she’s had some show wins, including “Inside With Jen Psaki,” a new Sunday show hosted by the former White House press secretary.

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The company is scheduled to report quarterly earnings this week, and the next conference call will likely be closely scrutinized.