Peacock Is Raising Its Prices For The First Time In Three Years
According to Deadline, Peacock has decided to raise its prices for the first time since 2020. The streaming service will be upping its prices by $1 a month for the Premium tier and $2 a month for Premium Plus. So Peacock is raising it’s prices for the first time in three years,
After the price increase, Premium will be $5.99 a month, and Premium Plus will be $11.99. Premium Plus is almost completely ad free and also includes access to live, local NBC channels and the ability to download programming. This price update will begin on August 17th for exsisting Peacock subscribers and immediatly for new users.
Peacock had 22 million subscribers as of March 31st. The survaces free, ad-supported origin had a strategic shift in 2021 when they began focusing on paid subscibers. Since this shift the survace has grown rapidly. However, the service falls behind when compasred to suvaces like Disney+, Max, Paramount+, Netflix, and Prime Video.
Peacock is currently not alone in raising their streaming survices. Some rivals have implimented multiple pricing increases in the time that it has taken Peacock to increasae theirs.
Both live and on-demand programming on Peacock has continued to expand as NBCU has paved a path being both a competitive direct-to-consumer field and created an ongoing viewer migration to streaming and away from linear pay-TV. The platform has taken the pay-1 film release window that used to belong to third-party premium cable networks and laid claim to NBCU titles that used to go to Hulu in next-day windows along with adding full networks and experiences from WWE , Hallmark, and Reelz.
Another part of the appeal the Peacock has is live sports. Premier League soccer and evernts like the Women’s World Cup and the Olympics having extensive offerings. NBCU also has exclusive rights to a NFL playoff game next January.