“Looking ahead, we will continue to be focused on strong revenue growth and improving profitability at Peacock in the broader context of expected revenue and profit growth across the entire Media segment.”

In context

“y Olympics. Strength in the Olympics was mainly driven by a record $1.4 billion in advertising revenue, with Peacock contributing over $300 million of that. Excluding the Olympics, total advertising revenue was flat year-over-year as the overall market remained stable, while total media revenue increased 5%, driven by an exceptional quarter for Peacock. Revenue growth for Peacock was 82% and still a very robust greater than 40% excluding the Olympics. This was also a strong quarter for Peacock paid subscribers as we added 3 million net new additions driven not only by the Olympics, but also the return of the NFL, including our Peacock exclusive NFL game from Brazil, the return of the Big Ten, and several entertainment hits during the quarter including Love Island, Bel Air and Fight Night. Looking ahead, we will continue to be focused on strong revenue growth and improving profitability at Peacock in the broader context of expected revenue and profit growth across the entire Media segment. Media EBITDA in the quarter declined 10% to $650 million, but this was largely timing related as a profitable Olympics was offset by higher expenses due to the timing of other sports, including two additional NFL games in the quarter, an additional Sunday Night Football game and Peacock's exclusive game from Brazil. At studios, revenue increased 12% and EBITDA increased 9%, driven by the success of our film slate, including Despicable Me 4 as well as Twisters. Year-to-date, we have three of the top 10 box office titles, including Twisters, Kung Fu Panda 4 and Despicable Me 4, which has already grossed nearly $1 billion and is the first animated franchise in the industry to surpass $5 billion in global box office. Looking to the fourth quarter, Wild Robot debuted in September to terrific r”