Ex-NBCU Unit Versant Eyes 50% Digital Revenue

Versant, having completed its separation from Comcast's NBCUniversal, reported its full-year 2025 revenue at approximately $6.69 billion. This figure represents a 5% decrease compared to the prior year, with linear distribution revenue down 5.4% and advertising revenue declining nearly 9%. The company is charting a course for significant transformation, with a stated goal to derive 50% of its revenue from digital, platform, subscription, ad-supported, and transactional businesses by 2026.

As of early 2026, Versant has begun trading on the Nasdaq. The company's management had been working throughout 2025 to separate assets from Comcast. Notably, non-pay TV revenue reached 19% of total revenue in 2025, amounting to roughly $826 million in platforms revenue. This platform business emerged as the only segment to experience revenue growth year-over-year, driven by initiatives like new direct-to-consumer products and ad-supported services.