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NBCUniversal boss says business is booming, no signs of impending recession
![jeff shell at cannes lions](https://cdn.statically.io/img/pagesix.com/wp-content/uploads/sites/3/2022/06/jeff-shell-cannes-lions-67.jpg?w=1024)
NBCUniversal boss Jeff Shell is bullish on the economy.
“There’s a drumbeat in the market,” the CEO told CNBC’s Julia Boorstin at the Cannes Lions festival on Wednesday. “There’s not a slowing per se.”
The exec said that two leading economic indicators in NBCUniversal’s business — namely the theme parks business and the advertising business — are not showing signs that we are headed towards a recession.
“Theme parks are going gangbusters,” Shell said of NBCU’s Universal Studios parks. “Hotel bookings are through the roof.”
In terms of advertising, the picture is a little more mixed, he noted.
Shell was in good spirits after a late night at the the Medialink and iHeartMedia dinner at Hotel du Cap-Eden-Roc on Tuesday.
![NBCUniversal Upfront in New York City on Monday, May 16, 2022](https://cdn.statically.io/img/pagesix.com/wp-content/uploads/sites/3/2022/06/cannes-lions-jeff-shell-45.jpg)
“This is my first time [at Cannes Lions],” he said. “It’s awesome. It feels like a party here. It [the ad market] feels pretty upbeat.”
Shell also highlighted some positives for his company, including its streaming service, Peacock, which is ad-supported, as well as an abbreviated theatrical window for movies.
During the pandemic, NBCU-owned Universal Pictures led the charge in reducing the time that movies would remain in theaters before appearing on streaming.
Pre-pandemic, the window was 90 days. Now it’s just 17 days for Universal Pictures, the studio behind such franchises as “Fast & Furious,” “Jurassic Park” and “Jason Bourne.”
![Cannes Lions, people and the city of Cannes is waiting for the Festival 2022, after 2 years of Covid 19 Pandemic.](https://cdn.statically.io/img/pagesix.com/wp-content/uploads/sites/3/2022/06/cannes-lions-jeff-shell-46.jpg)
Although Peacock was late to streaming and trails more seasoned media giants like Netflix, Disney+ and HBO Max, Shell touted the service’s TV and movie content, including Bravo’s various franchises including “Real Housewives” and “Below Deck.”
“Everything Andy Cohen touches turns to gold,” he concluded.