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NBCUniversal strategically leans into sports as it prepares for ‘Legendary February’

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NBCUniversal strategically leans into sports as it prepares for ‘Legendary February’


A version of this article first appeared in the CNBC Sport newsletter with Alex Sherman, which brings you the biggest news and exclusive interviews from the worlds of sports business and media. Sign up to receive future editions, straight to your inbox.

NBC is about to have itself a “legendary” month.

“Legendary February,” a marketing tagline invented by NBC Chief Marketing Officer Jenny Storms, is all about the sports that will be aired by NBCUniversal, the subsidiary of Comcast. The Milano Cortina Winter Olympics begin Feb. 6 with the opening ceremonies. That will air on NBC, followed by a two-week slew of Olympics programming.

Just two days after the Olympics coverage starts up, NBC will air the Super Bowl, and, a week later, the network has the NBA All-Star game, a product of the new NBA media rights deal that began this season. The Olympics ends on Feb. 22, and NBC won’t just air the closing ceremonies — it also has the Boston Celtics vs. the Los Angeles Lakers that night.

All of the marquee events will air on NBC and on its subscription streaming service, Peacock. 

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This doesn’t even include the FIFA World Cup, which will air on NBCU’s Telemundo this summer, or Major League Baseball, which returns to NBC in March after a three-year hiatus. 

The run of premier sports events will be a major test for NBC after it spent billions of dollars to acquire rights to air them. The return on the investment is judged by a mixture of advertising revenue sold against the events, plus the added distribution value by making NBC a must-have component of any pay-TV bundle, plus the value these events have for its streaming service Peacock in terms of adding and holding monthly subscribers. 

The month of February is a microcosm of the company’s strategy these days — and a notable turn for the media company in recent years. While Comcast co-CEO Mike Cavanagh says he disagrees, it’s hard to argue otherwise: NBC has become a sports-first entity. 

NBC’s evolution 

Sports has been a major component of NBC for decades, but it didn’t use to be the network’s calling card. In the 1990s, NBC stood for “Must See TV,” anchored by hits “Seinfeld,” “Friends,” “Frasier” and “ER.”

That run bled into the early 2000s, with another string of hits led by “The Office,” “The West Wing,” “Friday Night Lights” and “This is Us,” along with critical darlings such as “30 Rock,” “Parks and Recreation,” “Community” and “The Good Place.” 

NBC has also always had successful morning shows (“Today”), news programming and late night shows (“Saturday Night Live,” “The Tonight Show”), but ratings have come down for all of those entities as tens of millions of Americans have canceled traditional pay TV during the past 15 years.

The massive cord cutting has, of course, led to a significant change in the business of media. With ownership of Warner Bros. Discovery still in limbo as Paramount Skydance and Netflix jostle for control, NBC suddenly appears subscale.

Netflix, Amazon, Apple and Google/YouTube have balance sheets that dramatically dwarf NBCUniversal’s buying power (at least, if those companies choose to spend on TV programming). 

Disney has a $200 billion market valuation — far larger than NBCU, which is just a division of internet giant Comcast, whose entire market cap is just over $100 billion. And NBCU is consciously getting smaller, having just spun off its entire cable network portfolio (including CNBC) other than Bravo.

NBC used to compete with ABC, CBS, Fox and a handful of basic cable networks like TNT, FX and TBS for scripted entertainment. Those days are over. The competition has morphed to include tech streaming giants, and NBC’s pocketbook and global reach is simply dwarfed by larger rivals.

“You look at where the competition has come from, at least in the latest media, it’s been the entertainment side,” NBC Sports head Rick Cordella told CNBC in a recent interview. “For scripted dramas, you see Apple and Netflix and Amazon producing fantastic dramas and other shows. Sports is harder. Sports is relationships. Sports is production. Sports is reach of broadcast. And so we have a little bit of an advantage in the sports category that we may not quite have in other ones.”

This isn’t to say NBCUniversal can’t invest in scripted television at all. The company recently signed “Yellowstone” creator Taylor Sheridan to a five-year deal that begins in 2029 and is worth about $1 billion, according to the Wall Street Journal. 

NBC has also hit some home runs with unscripted TV, including “The Voice” (which averaged more than 4 million viewers in its 28th season), “America’s Got Talent” and Peacock’s “Love Island USA.” During the summer, “America’s Got Talent” was the highest-rated broadcast show, and the seventh season of “Love Island USA” was the most-watched streaming reality show for nine consecutive weeks. “The Voice” has been the highest-rated unscripted series for the last six seasons.

But NBCU probably no longer has the necessary cash at its disposal relative to the competition to outbid rivals on a bunch of expensive shows each year without losing money. Peacock still loses money, unlike streaming services such as Netflix, Disney+ and HBO Max. 

It’s why Comcast was interested in buying WBD’s studio and streaming assets, including HBO Max, and merging them with NBCU. 

NBC has decided to go big on sports to keep the pay-TV bundle afloat while also boosting Peacock subs for those who have opted out of cable. Most of the viewership for scripted entertainment — easy to watch on demand — has gone to streaming.

Cavanagh pushes back

Mike Cavanagh, then-President of Comcast Corporation attends the Allen & Company Sun Valley Conference on July 10, 2024 in Sun Valley, Idaho.

Kevork Djansezian | Getty Images

And yet, Cavanagh didn’t agree that sports has taken over as NBC’s main attraction.

I wouldn’t say that,” the recently installed co-CEO said in an interview. “Have you watched ‘Stumble’? Have you watched ‘St. Denis [Medical]’? We don’t want to be a sports-only service. That’s not the plan.

“I want the sports team to kill it. I want them to feel like they’re the center of the world. I want them to go to the sports media audience and say, ‘We’re the special thing,'” Cavanagh said. “But if we’re sitting in L.A. talking to [NBCUniversal Entertainment and Studios] Donna [Langley] or [TV Studios Chairman] Pearlena [Igbokwe] or [Bravo & Peacock Unscripted Chairman] Frances Berwick on the reality side with Bravo — we’ve got special DNA in all of those places, and they’re all delivering what the service does today.”

Cavanagh has a job to do. He’s the leader of all of NBC’s divisions, and he, of course, loves all of his children equally. 

Still, just follow the money. NBC’s prime time schedule is the lightest it’s been on scripted comedies and dramas in its history. “Stumble” is currently the 17th most popular show on NBC (and about 75th overall on TV), averaging about 1.5 million viewers each week, according to Nielsen figures. “St. Denis Medical” averages about 2.4 million viewers per week.

Those numbers are about in line with what NBC gets for a weekly NBA game, but NBC just agreed to spend about $2.5 billion per year for the NBA. The All-Star Game and NBA playoffs will draw far more viewers than a standard regular-season game. 

“Sunday Night Football” averaged 23.5 million viewers a game this year. It costs NBC about $2 billion a year — a number sure to skyrocket if and when the NFL renegotiates those rights, which could happen as early as this year.

In the past year, NBC has successfully outbid competitors for both the NBA and MLB’s “Sunday Night Baseball.” 

Two years ago, NBC paid $110 million for a Peacock-exclusive NFL wild-card game. The rationale at the time was to spend big on a marquee sporting event and hope that customers would keep subscribing to Peacock after they found its library of movies and original TV series.

In the past year, that strategy has evolved a bit. Now, instead of hoping sports fans stick around to watch Peacock entertainment, NBC has acquired NBA and MLB rights. It’s probably a more logical bet that an NFL fan will stick around to watch exclusive NBA and MLB games than keep paying $10.99 each month to watch “St. Denis Medical” or “Stumble.”



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Are we getting more savvy about our credit scores?

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Are we getting more savvy about our credit scores?



With lenders using credit scores to decide everything from phone contracts to car finance, experts say understanding how it works could make a meaningful difference.



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IMF Raises India’s 2025 Growth To 7.3%

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IMF Raises India’s 2025 Growth To 7.3%


Washington: The International Monetary Fund on Monday raised India’s economic growth projection for 2025 by a sharp 0.7 percentage point to 7.3 per cent, citing stronger-than-expected performance in the second half of the year, even as it expects growth to moderate in the coming years. 

In its World Economic Outlook Update, the IMF said the upward revision reflects a “better-than-expected outturn in the third quarter of the year and strong momentum in the fourth quarter,” underscoring India’s position as one of the fastest-growing major economies in the world.

The IMF projected that India’s growth would ease to 6.4 per cent in 2026 and 2027 as cyclical and temporary factors wane.

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Despite the expected moderation, India remains a key driver of growth among emerging market and developing economies, which the IMF said are projected to expand at just over 4 per cent in 2026 and 2027. 

Emerging and developing Asia continues to benefit from strong technology-related investment and trade, even as global momentum becomes uneven.

The update noted that global growth is projected to hold steady at 3.3 per cent in 2026, supported by easing trade tensions, accommodative financial conditions and a surge in investment linked to technology, particularly artificial intelligence.

Inflation trends were also favourable for India. The IMF said inflation in India “is expected to go back to near target levels after a marked decline in 2025, driven by subdued food prices,” offering additional support to domestic demand.

However, the IMF cautioned that risks to the outlook remain tilted to the downside. A reassessment of expectations around AI-driven productivity gains could lead to a pullback in investment and tighter global financial conditions, with spillover effects for emerging economies.

On the upside, the Fund said faster adoption of artificial intelligence could lift global growth, provided productivity gains materialise, and financial risks are contained.



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Why the US is buying icebreakers from Finland

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Why the US is buying icebreakers from Finland


Adrienne MurrayBusiness reporter, Helsinki

Aker Arctic Technology A Polaris class icebreaker designed by Finnish firm Aker Arctic Technology cuts its way through ice covered waterAker Arctic Technology

Finland leads the world when it comes to the design and construction of icebreakers

As President Donald Trump continues to insist that the US needs to own Greenland, his wider focus on the Arctic region has seen Washington order new icebreakers.

For these ships, which can sail through seas covered in solid ice, the US has gone to the world expert – Finland.

Temperatures are sub-zero inside Aker Arctic Technology’s ice laboratory, as the scale model of an icebreaker cruises down a 70m-long simulation tank.

It ploughs a neat channel through the frozen surface of the water.

Undergoing testing at a facility in Helsinki, Finland’s capital, this is a design for the next generation of the country’s icebreakers.

“It’s crucial that it has sufficient structural strength and engine power,” says ice performance engineer, Riikka Matala.

Mika Hovilainen, the firm’s chief executive, adds that the shape of the vessel is also crucial. “You have to have a hull form that breaks ice by bending it downwards,” he says. “It’s not cutting, it’s not slicing.”

Finland is the undisputed world leader when it comes to icebreakers. Finnish companies have designed 80% of all those currently in operation, and 60% were built at shipyards in Finland.

The country leads the way out of necessity, explains Maunu Visuri, president and chief executive of Finnish state-owned company Arctia, which operates a fleet of eight icebreakers.

“Finland is the only country in the world where all the harbours may freeze during wintertime,” he says, adding that 97% of all goods to the country are imported by sea.

During the coldest months, icebreakers keep Finland’s ports open, and work as pathfinders for big cargo ships. “It’s really a necessity for Finland. We say that Finland is an island.”

It was this expertise that saw Trump announce in October that the US planned to order four icebreakers from Finland for the US Coast Guard.

A further seven of the vessels, which the US is calling “Arctic Security Cutters”, are to be built in the US, using Finnish designs and expertise.

“We’re buying the finest icebreakers in the world, and Finland is known for making them,” said Trump.

Adrienne Murray A model icebreaker being tested at Aker Arctic Technology's facility in HelsinkiAdrienne Murray

Aker Arctic Technology is continuing to test designs for the next generation of icebreakers

Under US law, the country’s naval and coastguard ships must be domestically-built, but in this case the president waived that requirement on national security grounds. He cited “aggressive military posturing, and economic encroachment by foreign adversaries”, by which he means Russia and China.

This US concern comes as climate change continues to make the Arctic Ocean more navigable for cargo ships, at least if icebreakers lead the way by cutting a path. This opens up commercial trade routes from Asia to Europe, either above Russia, or north of Alaska and Canada’s mainland, and down past Greenland.

Reduced ice levels also mean that oil and gas fields beneath the Arctic are more accessible.

“There’s simply a lot more traffic in that part of the world now,” notes Peter Rybski, a retired US Navy officer and Helsinki-based, Arctic expert.

“You have an active oil and gas exploration and extraction industry in Russia, as well as a newly-emerging trans-shipment route from Europe to Asia.”

Rauma Marine Constructions An artist's impression of the new Finnish icebreakers that the US has orderedRauma Marine Constructions

The US intends to buy 11 icebreakers of Finnish design, pictured, four of which will be built in Finland

Following Trump’s outline announcement last autumn, the first contracts were awarded on 29 December.

Finland’s Rauma Marine Constructions is to build two icebreakers for the US Coast Guard at its shipyard in the Finnish port of Rauma. The first ship is due to be delivered in 2028.

A further four will be constructed in Louisiana, with all six using an Aker Arctic Technology diesel-electric powered design.

The US orders are part of an effort to catch up with the number of Russian icebreakers. Currently Russia has around 40, including eight that are nuclear powered.

By contrast, the US presently only has three in operation.

Meanwhile China operates around five polar-capable vessels. “None of them are technically icebreakers,” says Rybski, pointing to their design not meeting the strict criteria. “But they are increasing their fleet.”

He adds that China has increasingly been sending these “research” ships into Arctic waters between Alaska and the far east of Russia, including areas that the US considers its “exclusive economic zone”.

“With limited means to respond this becomes a problem [for the US].”

Trump’s desire to enlarge its icebreaker fleet goes beyond the practicalities of operating in ice-clad Arctic seas, assesses Lin Mortensgaard, a researcher at the Danish Institute of International Studies. She says it is also about projecting power.

“No matter how many aircraft carriers you have and how much you use them to threaten states with, you cannot sail your aircraft carrier into the central Arctic Ocean,” she says.

“Icebreakers are really the only kind of naval vessel to signal that you are an Arctic state, with Arctic capabilities. And I think this is what much of the US discourse is about.”

James Brooks Icebreaker engineer Riikka Matala wearing a fluorescent jacketJames Brooks

Icebreaker engineer Riikka Matala says that icebreakers need both structural strength and powerful engines

Back in Finland, Helsinki Shipyard occupies a dock on the capital’s waterfront. It is where half of the world’s icebreakers have been made. Today owned by Canadian firm Davie, it also hopes to win new contracts from the US Coast Guard.

“The geopolitical situation has changed definitely,” says the shipyard’s managing director, Kim Salmi.

“We have our eastern neighbour here [Russia]. They are building their own [new] fleet. And the Chinese are building their fleet.”

He adds: “The US, Canada and the western allies in general, are looking for the power balance.”

Inside a cavernous shipbuilding hangar, workers cut and weld steel for the yard’s latest icebreaker, a heavy-duty Arctic vessel, called Polarmax that’s destined for the Canadian coastguard.

The Finns can build these complex vessels remarkably swiftly – it takes between two-and-a-half and three years – thanks to a streamlined production method, and decades of experience.

“Over 100 years, we have practised this,” says Arctia’s Visuri. “You’ve got this cycle of designers, operators, builders. That’s why Finland is the superpower of icebreakers.”

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