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Peacock issues first price increase since launch

Most streaming platforms start with a low monthly fee that spirals into more and more, largely due to corporate greed and the rising costs that said platform throws at original content. Peacock is a stand out among the rest, as — up until recently — it has remained the same price since its launch in 2020.

As reported by Deadline, NBCUniversal’s streaming platform will see a small price hike, with its Premium tier slapped with a $1 increase, while its near-ad-free plan — Preimum Plus — will go up $2. Following the increase, the new prices will be $5.99 and $11.99, respectively.

New signups are subject to this new change, while existing subscribers have been temporarily grandfathered into its old pricing model until August 17. While subscriber numbers are a bit under wraps currently, it was reported that Peacock had 22 million subs since March 31, though that number could be lower as this new model takes effect.

Unsurprisingly, many of the big streamers are hiking prices, with Netflix having this notoriousness to do so what feels like every few months. Meanwhile, other cost-cutting measures have been put in place by platforms like Disney+, cutting shows that aren’t vital for the platform’s growth or are highly viewed.

What makes Peacock “unique” is its blend of live TV and streamable shows and movies, and the allure of its seeming hesitance to up its price is an admirable goal. Oh yeah, and also The Office is on it too.

How successful this price hike will be at aiding in turning a profit is yet to be seen.

Posted in News