Peacock, the popular streaming service owned by NBCUniversal, has rapidly gained a substantial user base with its extensive library of TV shows, movies, and original content. Since its launch, Peacock has been attracting subscribers with its free ad-supported tier and enticing premium options. However, as of August, users will have to prepare for a change as the platform’s prices are set to increase. In this blog, we’ll explore the details of Peacock’s impending price hike and what it means for subscribers.
The Current Peacock Pricing Model
As it stands, Peacock offers three subscription tiers:
- Peacock Free: This is the basic, ad-supported tier available to all users at no cost. It provides access to a limited selection of content, including some TV shows, movies, and Peacock Originals.
- Peacock Premium: Priced at $4.99 per month, this tier unlocks a more extensive content library, including all available TV shows and movies, as well as exclusive Peacock Originals. The Premium tier is ad-supported, meaning users will encounter advertisements during their streaming experience.
- Peacock Premium Plus: For $9.99 per month, subscribers can enjoy all the benefits of the Premium tier but without ads. This tier appeals to those who prefer an uninterrupted streaming experience.
The Upcoming Price Increase
Starting in August, Peacock has announced that the prices of its Premium and Premium Plus tiers will see a price hike:
- Peacock Premium: The monthly cost of the ad-supported Premium tier will increase from $4.99 to $5.99.
- Peacock Premium Plus: For subscribers who want an ad-free experience, the monthly fee for Premium Plus will rise from $9.99 to $11.99.
According to the company, the change is necessary to continue investing in high-quality content and enhancing the user experience. This price increase will also help Peacock remain competitive in the market, especially considering that rivals like Netflix and Max charge more than $19.99 per month. Last year, Apple TV+ raised its subscription fee to $6.99 per month. Additionally, Paramount+ recently increased its ad plan to $5.99 per month and introduced a new ad-free tier called Paramount+ with Showtime, priced at $11.99. While Peacock will have the same price as Paramount+, it doesn’t offer as many original shows from Showtime.
However the extensive sports offerings from Peacock, the leading direct-to-consumer streaming service in the U.S. With over 5,000 hours of content, including Women’s World Cup, Sunday Night Football, Premier League, and Big 10, you won’t miss a moment. But Peacock isn’t just about sports. Subscribers also gain access to daily live news, 24/7 streaming channels, and a range of original titles including “Poker Face,” “Mrs. Davis,” “The Continental,” “Bel-Air,” “Dr. Death,” “Based on a True Story,” and “Bupkis.” Plus, Peacock is the exclusive streamer with next-day access to all of NBC and Bravo’s new shows.
Since its launch in 2020, Peacock has released an impressive 80,000 hours of content, offering endless entertainment options for its viewers. However, Peacock’s recent price hike is a response to the company’s reported $704 million in losses in the first quarter of 2023, a significant increase from $456 million in the same period last year.
To steer towards profitability, Peacock has made changes, removing the free offering for new customers and eliminating the inclusion of the ad-supported tier at no extra charge for Xfinity customers.