Peacock to raise its subscription prices on August 17 – Tonight, Peacock will give unpleasant news to its subscribers. Beginning at 12 a.m. EDT, the streamer will notify existing subscribers that its subscription costs would be raised on August 17. The move will have an immediate impact on new consumers. This will be the first price increase for Peacock since its inception.
Premium (ad-supported) will now cost $5.99 per month, up from $4.99. Meanwhile, the price of Premium Plus (ad-free) will rise by $2 to $11.99 per month.
The company believes that the move is necessary so that it may continue to invest in high-quality content and user experience.
The price increase will also help Peacock to remain competitive in the industry, while competitors such as Netflix and Max charge upwards of $19.99 per month. Apple TV+ hiked its monthly subscription fee to $6.99 last year.
Furthermore, Paramount+ just increased its ad plan to $5.99/month and the price of its new ad-free tier, Paramount+ with Showtime, to $11.99. While Peacock will cost the same as Paramount+, the streaming service won’t be able to brag about dozens of Showtime originals.
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The streamer does, however, highlight its live sports offering, which it claims is the greatest of any direct-to-consumer streaming service in the United States, with over 5,000 hours of content. This covers the Women’s World Cup, Sunday Night Football, the Premier League, the Big Ten, and many other events.
Peacock also provides users with daily live news, streaming channels that are available 24 hours a day, and original titles such as “Poker Face,” “Mrs. Davis,” “The Continental,” “Bel-Air,” “Dr. Death,” “Based on a True Story,” and “Bupkis.”It’s also the only premium streaming service that has next-day access to all new NBC and Bravo new shows.
According to the company, Peacock has released more than 80,000 hours of material since its inception in 2020.
The price increase comes after the corporation reported $704 million in losses in the first quarter of 2023, up from $456 million in the same period last year.
Peacock has switched away from its free service in order to make a profit, reducing the opportunity for new consumers. Furthermore, the ad-supported tier is no longer included at no extra cost for Xfinity consumers.
