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Peacock joins the price-hike parade, raising subscription costs ahead of the Olympics
- Peacock is raising the prices of both its Premium and Premium Plus subscription tiers.
- The ad-supported Premium tier will now cost $7.99, and the ad-free Premium Plus tier will go up to $13.99 per month.
- The price hike takes effect on July 18 for new subscribers and August 17 for existing subscribers.
It feels like news of streaming service price hikes is becoming increasingly common, and Peacock is the latest to join the bandwagon. The NBCUniversal-owned streaming platform has announced a price hike for both its Premium and Premium Plus subscription tiers.
Starting July 18 for new subscribers and August 17 for existing customers, the ad-supported Premium tier will increase to $7.99 per month, and the ad-free Premium Plus will jump to $13.99 per month. Annual subscriptions will also see a price increase, costing $79.99 and $139.99 respectively.
This marks the second price increase in less than a year for Peacock, demonstrating a shift in NBCU’s strategy. The company initially launched the service in 2020 with lower price points and a free ad-supported tier to attract subscribers. However, recent moves like eliminating the free tier and this latest price hike indicate a focus on boosting profitability.
The price hike coincides with the 2024 Summer Olympics in Paris, which begin on July 26. Peacock will offer extensive Olympics coverage, including live broadcasts, replays, and original commentary, likely hoping to capitalize on increased viewership during the games.
Peacock isn’t alone in this trend. Numerous streaming services, from streaming giants like Disney Plus to music platforms like Spotify, have recently raised prices. With subscription prices on the rise, it might be time to consider one of the many free streaming services as an alternative.