I applied in May for the August class in Los Angeles. In late June I was selected for the video interview (second part of the application process) which would take place three days after I was notified. There are two timed writing assignments and then several timed interviews-- you speak into your camera and record yourself, you don't talk to a person. About four days after this interview, I was notified that I'd been selected for the panel interview, which would take place in three weeks.
Everyone at panel dresses professional, blacks, blues, suits, etc. The personal monologue came first, followed by the panel interview, then the one-on-one, then a group activity where they evaluate your ability to follow directions and work as a team. Everyone was so nice, and all of the other panelists were supremely qualified and charismatic. Most of them already had internships with NBCU or one of their subsidiaries, or had been given Viacom scholarships in college. Two had been to private high schools, three had been to private colleges. All of them were very kind. My one-on-one interviewer was also supremely nice and funny. Overall, the experience was scary, but the people were really incredible and truly make you want to work there.
Two weeks later I received an email that I had not been selected for the program, and feedback would not be given at this time. I was bummed, but unlike most of the big companies I've interviewed with, NBCU at least lets you know when you aren't selected. I appreciated it.