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Peacock is raising prices across all of its streaming plans
Peacock is raising its streaming plan prices effective August 18, with the ad-supported 'Select' plan increasing to $8.99, 'Premium' to $12.99, and 'Premium Plus' to $19.99. This decision aims to enhance viewer experience and maintain market competitiveness, coinciding with new features and a reported subscriber growth to 48 million.
Key points
- Peacock increases the price of its streaming plans as follows: 'Select' from $7.99 to $8.99, 'Premium' from $10.99 to $12.99, and 'Premium Plus' from $16.99 to $19.99.
- Price hikes are effective August 18 for new subscribers; existing subscribers will see increases after September 17.
- The company states the price changes are necessary for improving viewer experience and staying competitive.
- Current annual subscribers keep their rates until their plans or promotions expire.
- Recent service enhancements include an AI-powered video feed and new mystery games, aiming to attract and retain subscribers.
- Peacock's subscriber base has grown to 48 million, influenced by popular events like the NBA playoffs and FIFA World Cup.
Why it matters
- In 2025, several companies, including Peacock, are adjusting pricing strategies to cope with increased operational costs and competition in the streaming market.
- The trend of rising prices is prevalent in the streaming industry, as evidenced by similar actions taken by Netflix and HBO Max.
- Peacock reported its first profitable quarter in the face of increased competition, which reflects a significant shift in the streaming landscape, emphasizing the need for compelling content.
Peacock's price increases reflect ongoing trends in the competitive streaming market, with the service leveraging new features and strategic partnerships to retain subscribers despite the hikes, highlighting its desire for sustained growth and innovation.