Peacock YouTube Premium deal brings NBCUniversal streaming into YouTube

NBCUniversal and YouTube have agreed a multiyear Peacock YouTube Premium deal that will make the U.S. streaming service available inside YouTube’s paid product from early 2027. The arrangement gives YouTube Premium subscribers access to Peacock programming without leaving YouTube, adding NBCUniversal sports, films and entertainment to a platform with more than 125 million global Premium members, according to YouTube’s subscription page.

Peacock’s catalogue will be included for U.S. YouTube Premium subscribers, according to CNBC. The programming covered by the deal includes NBC Sports properties such as NFL and NBA content, Universal films including the Minions franchise, and Peacock and Bravo programming including the Real Housewives franchise and Love Island USA.

YouTube Premium is the paid version of YouTube that removes ads from videos and, depending on the subscription tier, allows downloads of most videos. The Peacock arrangement differs from a conventional streaming bundle because NBCUniversal’s content will be embedded within YouTube rather than requiring customers to move to a separate app.

What does Peacock on YouTube Premium include?

The deal covers all Peacock content for U.S. YouTube Premium subscribers, according to CNBC, spanning sports, movies, originals and Bravo programming. In practical terms, YouTube becomes the viewing environment for Peacock content, while Peacock remains the NBCUniversal streaming service behind that programming.

The partnership developed after Comcast co-CEO Brian Roberts contacted YouTube chief executive Neal Mohan about nine months ago, CNBC reported, citing a person familiar with the matter. Executive teams from the two companies later met at Google offices and began discussing possible partnerships, that person told CNBC.

The agreement comes as large media groups seek new distribution and revenue models while viewing time shifts toward technology platforms. CNBC noted that companies including Comcast-owned NBCUniversal, Warner Bros. Discovery and Disney have been pursuing initiatives intended to improve revenue and profitability as YouTube and TikTok account for more consumer attention.

It also arrives shortly after Comcast announced plans to separate NBCUniversal from its parent company. Comcast is preparing to spin off NBCUniversal in the next year, according to CNBC, while other media transactions cited by CNBC include Paramount Skydance’s agreement to acquire Warner Bros. Discovery and Fox Corp.’s deal to buy Roku.

Peacock has recently reached a stronger financial position within Comcast’s media business. NBCUniversal reported last week that Peacock had 48 million paying subscribers as of June 30 and became profitable for the first time in the latest quarter. On Comcast’s earnings call, co-CEO Mike Cavanagh, who is expected to lead NBCUniversal after the separation, said he expects Peacock to remain profitable on an annual basis, though results may vary by quarter.

The YouTube agreement also extends NBCUniversal’s multiyear distribution arrangement with YouTube TV, YouTube’s streaming-only pay-TV bundle, according to CNBC. It further covers distribution of YouTube, YouTube TV and YouTube Premium on Comcast’s Xfinity cable TV and Xumo platforms.

The companies will also expand their advertising relationship. CNBC reported that the arrangement will let NBCUniversal sell advertising against Peacock content viewed on YouTube’s platform, a mechanism that could support streaming economics as media companies rely more heavily on advertising alongside subscriptions.

This story draws on original reporting from CNBC.