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.
