Peacock's ad-supported option will increase by $2 to $7.99 per month, and its ad-free option will increase by the same amount to $13.99 per month. Peacock's annual price with ads is $79.99, and the ad-free version is $139.99.
Prices for new subscribers will increase starting July 18th, and existing customers will see the new prices starting August 17th. The Summer Olympics he will begin in late July.
Media companies have been looking for ways to monetize streaming, but most still Losing money on a venture. Advertising is also an important part of this strategy, as is price increases.
This is Peacock's second price increase in the last year. Starting last August, his Peacock price with ads increased by $1 to $5.99 per month, and without ads his price increased by $2 to $11.99 per month.
Parent company Comcast touted Peacock as a bright spot in its recent earnings call, but losses attributable to the streamer are weighing on its bottom line. Losses are said to have peaked in 2023, and executives expect them to narrow in coming quarters. Peacock currently has 34 million subscribers.
Peacock offers a wide range of live sports content, from the NFL to the Premier League, and often sees an increase in subscribers during high-profile events.
The streaming service was launched in 2020 to coincide with the Tokyo Summer Olympics, but was postponed to 2021 due to the pandemic.
Executives said Thursday that Peacock's exclusive NFL Wild Card Game in the first quarter helped it add and retain more customers than expected.
The streamer also recently benefited from becoming the first exclusive home for Universal Pictures' Academy Award darling and box office hit “Oppenheimer.”
Peacock's first quarter revenue increased 54% year over year to $1.1 billion. This is partly due to increased advertising revenue, which has recently slowed compared to traditional TV networks.
Executives said last week that the Summer Olympics are expected to bring in record ad revenue as many events will be streamed exclusively on Peacock, and more will be featured on broadcast network NBC. said.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.
