Peacock
Peacock

Peacock implements first-ever price increase for subscriptions

What To Know

  • The ad-supported Premium subscription will undergo a $1 increase, raising it to $6 per month, while the ad-free Premium Plus option will see a $2 rise to $12 per month.
  • As for annual subscriptions, the Premium plan will rise by $10 to $60 per year, and the Premium Plus plan will experience a $20 increase to $120 per year.
  • Peacock’s decision to adjust its prices aligns with the trend observed among other prominent streaming platforms, such as Paramount+, Max, Disney+, and Apple+, which have also implemented price hikes in recent months.
  • These conflicts have the potential to result in content shortages in the future, given that many current shows were primarily filmed last year.

Peacock, the streaming platform owned by NBCUniversal, is implementing price hikes for its subscription plans, impacting both existing and new subscribers. The ad-supported Premium subscription will undergo a $1 increase, raising it to $6 per month, while the ad-free Premium Plus option will see a $2 rise to $12 per month.

As for annual subscriptions, the Premium plan will rise by $10 to $60 per year, and the Premium Plus plan will experience a $20 increase to $120 per year. These new pricing structures will take effect on August 17th, as conveyed through an email sent to current subscribers.

This represents the first instance of Peacock raising its prices since its launch in 2020. Despite witnessing a growing base of subscribers, with 22 million paying subscribers as of April, the streaming service has encountered financial losses. Rising costs associated with programming have contributed to a loss exceeding $700 million.

Peacock Implements Subscription Price Increases Across Ad-Supported and Ad-Free Plans

Peacock’s decision to adjust its prices aligns with the trend observed among other prominent streaming platforms, such as Paramount+, Max, Disney+, and Apple+, which have also implemented price hikes in recent months.

However, the ramifications of these price increases may be overshadowed if the ongoing labor disputes in Hollywood are not promptly resolved. These conflicts have the potential to result in content shortages in the future, given that many current shows were primarily filmed last year. Consequently, a scarcity of content is anticipated around the same timeframe next year.

The popularity of Peacock extends beyond its extensive collection of beloved sitcoms like The Office. The streaming service offers a diverse range of live sports coverage, including NFL football, Premier League soccer, and WWE wrestling. Additionally, Peacock has curated a notable selection of original programming, spanning from the uproarious comedy of Mrs. Davis to the critically acclaimed detective series Poker Face.

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