Summary

• Peacock is raising prices by $2/month for & Plus.
• Price changes reflect for new customers on July 18, and existing customers on August 7.
• The price hike aligns with the lead-up to the Paris Olympics to drive subscriber growth.

The streaming service original shows such as Girls 5 Eva, Poker Face, and Apples Never Fall, and houses popular NBC titles including The Office and Superstore.

Per The Hollywood Reporter, Peacock is now set to raise its costs. Peacock will raise its price by $2 / month to become $7.99 / month and Peacock Plus will go up $2 as well, coming to $13.99. The annual costs will rise to $79.99 for and $139.99 for Plus. These price changes will reflect for new customers on July 18 and for existing customers on August 7.

Peacock’s Price Bump Comes Before An Increase In Subscribers

Peacock Relies On The Olympics

Peacock was once considered a far lesser streaming service that could not draw anywhere near the number of subscribers as services like Netflix, Prime Video, or Disney+.

The new Peacock policy shows the price hike happening right in advance of the Paris Olympics, whose opening ceremony is scheduled for July 26. As an NBC , Peacock is primed to be one of the main sources to watch the Olympics in the United States. Peacock’s move is intended to increase profits, arriving just as a subscriber influx is likely to start.

In its four years of existence, Peacock’s pay scale has changed dramatically. When it first launched, Peacock had a free service option that allowed s to watch the majority of their content on an ad-ed version that did not cost a subscription fee. Peacock officially did away with this plan last year, when new customers could no longer use the service for free and existing customers had to start paying as of June 2023.

Peacock had a streaming success recently in releasing the Oscar-winning film Oppenheimer on its platform.

Since then, Peacock has only increased its prices one other time before the just-announced increase. That increase came last year, when prices went up by $1 and Plus prices went up by $2. At $7.99 / month, Peacock will still be one of the lower-priced streaming services.

The service's price increase highlights the demand for Peacock shows and the service's features. Staying free for two and a half years, Peacock was once considered a far lesser streaming service that could not draw anywhere near the number of subscribers as services like Netflix, Prime Video, or Disney+. Now, that narrative has changed as Peacock engages in similar price-increasing behavior as its competitors do. Whether these increases are successful for Peacock remains to be seen as summer and the Paris Olympics grow nearer.

Source: THR