Peacock, the streaming platform owned by NBCUniversal, is set to increase its subscription prices starting this summer. New customers will see a $2 increase in both monthly plans, with Peacock Premium costing $8 per month and Peacock Premium Plus priced at $14 per month. Annual plans will also see a significant bump, going from $60 to $80 for Premium and from $120 to $140 for Premium Plus. Existing subscribers will experience the price hike starting on Aug. 17. This move comes as Comcast, the parent company of Peacock, announced an increase of 3 million paid subscribers in the first quarter of 2024.
The price increase aligns with the 2024 Summer Olympics, which will be broadcast live on the platform from Paris starting on July 26. To enhance the viewing experience during the Olympics, Peacock is offering features such as watch parties with host Alex Cooper, an interactive tool called Peacock Live Actions, and multiview that allows for four simultaneous views. Additionally, the platform will air the NFL’s Eagles vs. Packers overseas game live from São Paulo. This price hike follows a trend among major streaming services that raised prices in 2023, including Netflix, Disney Plus, Hulu, Paramount Plus, Starz, and Apple TV Plus, making Peacock the first to do it in 2024 among mainstream platforms.
Last July, Peacock previously increased the prices on all of its plans, with monthly rates for Peacock Premium rising from $5 to $6 and Peacock Premium Plus seeing a $2 increase from $10 to $12. Annual subscriptions also saw a rise, with the basic premium plan going up by $10 a year to $60 and the more expensive subscription increasing from $100 to $120. While there is still a free, ad-supported tier available, new accounts are not eligible for it, and existing subscribers can choose to downgrade their plans. However, those with Xfinity internet or Instacart Plus may qualify for free Peacock Premium.
As more streaming services continue to adjust their subscription prices, it is essential for consumers to stay informed about these changes. Keeping up with the latest news on streaming platforms, such as Disney Plus’ password-sharing crackdown and ESPN’s streaming launch, can help users make informed decisions about their subscription choices. While price increases are a common trend in the streaming industry, the value provided by these platforms, including exclusive content, live sports events, and interactive features, can justify these adjustments for some subscribers.
