NBCUniversal Reveals Peacock Price Hike
In a move that marks the first price adjustment since its launch in summer 2020, Peacock, the streaming platform from NBCUniversal, is set to implement a price increase. Starting from August 17, existing Peacock subscribers will see the Premium service cost rise by $1 per month to $5.99.
Additionally, the Premium Plus tier, offering mostly ad-free viewing, episode downloads, and live local NBC channels, will see a $2 monthly increase to $11.99.
This price adjustment will affect both current and new customers. The decision comes as Peacock’s subscriber count reached nearly 22 million in the first three months of 2023, representing a significant 60 percent year-over-year growth.
NBCUniversal stated that the price change will enable Peacock to continue investing in enhancing the user experience and delivering high-quality content while remaining competitive in the streaming market.
Since its launch, Peacock has added an impressive 80,000 hours of content, including exclusive movies from Universal Filmed Entertainment Group, next-day streaming of new episodes from NBC and Bravo, streaming channels from Hallmark and Reelz, and daily morning news from CNBC and MSNBC.
Despite this content expansion, NBCUniversal acknowledges that Peacock has faced startup losses amidst the industry wide focus on profitability. Even with the price adjustment, the company anticipates that 2023 will represent the peak of Peacock’s losses, estimated at around $3 billion, as NBCUniversal undergoes a transition toward a streaming-focused division within Comcast.