Peacock, the popular streaming service, is about to make its first-ever price increase. Starting August 17, existing subscribers will see a $1 monthly increase for the Premium tier and a $2 monthly increase for the Premium Plus tier. This means that the new prices will be $5.99 for Premium and $11.99 for Premium Plus. But don’t worry, the Premium Plus tier offers an ad-free experience, access to live local NBC channels, and the ability to download programming.
With 22 million subscribers as of March 31, Peacock has been growing rapidly since its shift towards paid subscriptions. However, it still has some catching up to do compared to its competitors like Disney+, Max, Paramount+, Netflix, and Prime Video. The company is projecting losses of up to $3 billion this year, but they remain optimistic about reaching break-even by 2024.
In addition to its subscription offerings, Peacock has been expanding its programming to attract more viewers. Original shows like “Poker Face,” “Mrs. Davis,” and “Bupkis” have been well-received, and the platform has also secured rights to NBCU titles that used to go to Hulu. Peacock’s lineup also includes live sports events like Premier League soccer, the Olympics, and the Women’s World Cup.
Comcast, the parent company of NBCUniversal, is also in negotiations with Disney regarding its stake in Hulu. And let’s not forget that Peacock’s new overseer, Mike Cavanagh, is well-versed in the financials of the streaming service, having previously served as Comcast’s chief financial officer.
So, while Peacock may be raising its prices, it continues to offer a compelling streaming experience with a wide range of content and exclusive offerings.
