NBC six years ago was reeling from the collapse of its prime-time schedule and years of meager investment from its corporate owner. The NBC broadcast network was generating an average of $1 billion less a year in revenue than its rivals ABC, CBS and Fox.
“We had performance and monetization issues,” said Steve Burke, who became chief executive of NBCUniversal when Comcast Corp. acquired the New York media company in early 2011. “The bottom line was the company was not doing as well as it should have.”
Other broadcasters were commanding ad rates 20% higher than those charged by NBC. But after chipping away for six years, that gap finally has been closed.