Burke: NBC profits lag behind peers

When it comes to profit, the Peacock network trails its broadcast peers 🅘by as much as $1 billion.

That’s according to NBCUniversal boss Steve Burke, who said thജe network brings in between $500 milli🅷on and $1 billion less than rivals ABC, CBS and Fox.

NBC’s ad rates run about 20 percent below other networks because of smaller ratings, B𒆙urke said Wednesday at the Bank of America Merrill Lynch media conference in Beverly Hills.

The network ended the most recent broadcast season in third place among 18-49 year-old viewers, the key viewing cat🐷egory🧸 for advertisers.

The poor ratings have been a disappointment given NBCU’s investment in progrᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚamming since it was acquired by cable giant Comcast.

Aside from lower ad rates, the rꦬatings have also hurt NBC’s ability to capture higher “retransmission” fees paid by cable and satellite-TV distributors. Retransmission fees amount to around $200 million a year, Burke said.

NBC can’t negotiate for higher fees until the current contracts expire. Burke said 25 percent are complete, while the o💝ther 75 ཧpercent don’t expire until next year.

NBC reꦗcently completed a deal with Charter Communications. Its next big deal w⭕ith Time Warner Cable expires in 2014.