Peacock Announces First Price Hike

Peacock
(Image credit: NBCUniversal)

NBCUniversal’s streaming service Peacock has announced its first price increase since its launch in July of 2020. Existing subs will see their monthly bill increase on August 17 by $1 to $5.99 for its ad-supported Premium tier and by $2 to $11.99 for its Premium Plus offering, which is mostly ad free. 

The price increases have already taken effect for new subscribers. 

The price increase follows an industry trend where companies have been desperately trying to boost profitability by increasing prices and reducing their spending on programming. 

NBCUniversal is expected to hit peak losses of about $3 billion on the streaming service this year but the company has said it expects losses to fall in 2024 and beyond. 

Paid subscriptions to Peacock streaming service increased 2 million to 22 million total in Q1, 2023, which represents a 60% increase year over year. In Q1, Peacock’s revenues also were up 45% to $685 million, however it reported a loss of $704 million, a decrease from the $978 million it reported in Q4 2022.

George Winslow

George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.