Streamer Peacock Raises Subscription Prices For The First Time Since Launch

TV & Film

Jul 24

Peacock launched in the summer of 2020. The price increase that is set to begin on August 17 is on par with other streaming platforms such as Disney+, Netflix, Apple TV+, and Amazon Prime Video as they have all raised their monthly prices similarly. NBCUniversal is raising the cost to existing Premium customers up to $5.99 a month. The Premium Plus pay tier is increasing to $11.99 a month. The Premium Plus plan offers content that is mostly advertisement free as well as episode downloads and local NBC channels. The studio said that the hike will allow the platform “to continue to invest in the best user experience and the highest-quality content while remaining competitive in the marketplace.”

The price hike is one dollar additional than what current subscribers pay for the Premium tier and $2 additional for those who pay for Premium Plus. New customers to the streaming platform will pay the new rates from the onset of services. This increase was proceeded by 22 million subscribers tracked by NBCUniversal between January and March of 2023. Since Peacock’s launch in 2020, NBCUniversal has added 80,000 hours of content to the platform. This number includes movies that are exclusive to Peacock as well as Universal Filmed Entertainment Group, New NBC, and Bravo. Additionally, the platform streams from both Hallmark and Reelz as well as the daily morning news broadcasts from CNBC and MSNBC.

NBCUniversal estimates that even with the hike in prices the studio is still likely to lose money as the forecast for the remainder of the year estimates a $3 billion overall loss.

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