Streaming will get more expensive whether you’re on Peacock’s cheaper plan, which is going up by $1 per month, or the Premium Plus one, which is getting a $2 per month bump to $11.99.
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There are more streaming choices than ever before, and now Peacock has joined the list of services that are getting even more expensive.
A media update reported by Variety, The Hollywood Reporter, and The Streamable confirmed prices for both of its streaming plans are going up, effective August 17th, with the cheaper Premium plan going up by $1 each month, from $4.99 to $5.99, and the Premium Plus package that gets rid of ads on most content and adds downloads for offline viewing along with access to live, local NBC channels is going up by $2, from $9.99 to $11.99 per month.
Customers will be notified of the price change with messages that start going out tonight. However, company representatives could not comment on the record about adjustments to annual pricing (which has been $49.99 / $99.99).
It’s the first price hike for Peacock but just the latest in a string of bumps that have raised prices for everything from Netflix, to (not HBO) Max, to Paramount Plus, to Disney Plus and the rest of its bundle.
The truth is, this trend isn’t going to stop anytime soon. Streaming services need to raise their prices or embrace advertising if they want to meet investors’ expectations. They’re just going to have to risk losing subscribers who don’t want to pay these jacked-up prices along the way.
The writing was on the wall for the Comcast / NBCUniversal-owned streamer in January, when Comcast execs said Peacock would hit its “peak losses” this year after losing nearly $1 billion in the previous quarter. Within days, Peacock ditched the free streaming plan that was available to entice new subscribers, while free access for Comcast cable subscribers ended in June, and now we’re seeing its first price hike for paying ones.
The streaming content lined up over the next several months for Peacock isn’t cheap, including the new Twisted Metal TV show, WWE, Big Ten college sports, an NFL playoff game, and more. Beyond that, some subscribers joined Peacock in June 2022 when a “summerofpeacock” coupon code allowed them to sign up for a year of the Premium package for just $20, and that’s expiring. For the folks who stuck around, they’re about to be paying a few more bucks a year.
Disclosure: Comcast, which owns NBCUniversal, is also an investor in Vox Media, The Verge’s parent company.
