Peacock increases rates, matches pricing of rival streamers

NBCUniversal is raising prices for its streaming service Peacock, increasing the monthly cost of both its Premium and Premium Plus tiers by $3.

The new rates will take effect for new and returning subscribers on July 23, and for existing customers on Aug. 22.

The Premium tier will increase from $7.99 to $10.99 per month, while Premium Plus will rise from $13.99 to $16.99. Annual plans will go to $109.99 and $169.99, respectively.

The price increase follows a similar hike implemented in 2023 and brings Peacock’s rates closer to competitors such as HBO Max and Disney+.

Alongside the increase, NBCUniversal is launching a new subscription tier called Peacock Select.

Priced at $7.99 per month or $79.99 per year, the Select plan will include current seasons of NBC and Bravo programming and a selection of library content. The new tier offers a lower-cost entry point compared to Premium, which includes additional live sports, next-day episodes, and a broader range of on-demand content.

Peacock has expanded its content offerings in recent months.

It reported viewer gains from the latest season of “Love Island” and will begin streaming NBA games this fall. Its programming lineup includes series such as “Poker Face,” NBC late-night shows, and feature films from Universal Pictures. NBCUniversal has also announced a forthcoming spin-off of “The Office” titled “The Paper.”

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NBCUniversal executives have positioned sports as a major differentiator for Peacock.

More than 80 percent of Peacock subscribers are currently on the ad-supported tier. While the monthly increase is among the larger hikes seen in the streaming market, other services have also raised prices by similar amounts. In 2023, Apple TV+ increased its monthly cost by $3, and Disney raised prices across Hulu and Disney+ by $3 to $5 within a two-year span.