Peacock to Increase Subscription Prices Ahead of the 2024 Summer Olympics

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Peacock, the streaming service operated by NBCUniversal, is set to raise its subscription fees this summer, coinciding with its coverage of the 2024 Summer Olympics in Paris. The price adjustment follows a substantial growth in its subscriber base, with Comcast reporting an addition of 3 million new paid subscribers in the first quarter of 2024.

Starting July 18, new subscribers will face higher fees, with Peacock Premium rising to $8 per month and Peacock Premium Plus climbing to $14 per month, marking a $2 increase for each plan. The annual subscription rates will also see an increase, with Premium going from $60 to $80 and Premium Plus from $120 to $140. Current subscribers will experience these changes beginning August 17.

This price hike is strategically timed to precede the Summer Olympics, which are broadcast live on Peacock from July 26 to August 11. The platform is enhancing its viewing experience by introducing features like watch parties hosted by Alex Cooper, the Peacock Live Actions interactive tool, and a multiview option allowing four simultaneous streams. Additionally, Peacock will broadcast the NFL’s Eagles vs. Packers game live from São Paulo, Brazil.

Peacock’s decision to increase prices follows a broader industry trend seen in 2023, where major streaming platforms including Netflix, Disney Plus, Hulu, and others raised their subscription fees. Notably, this marks Peacock’s first price increase in 2024, following a previous adjustment in July 2023 when monthly rates for its Premium service rose from $5 to $6, and the Premium Plus plan increased from $10 to $12.

Despite the increases, Peacock continues to offer a free, ad-supported tier, although it is now closed to new subscribers. Current users have the option to downgrade to this tier if they choose. Peacock Premium remains complimentary for certain Xfinity Internet and Instacart Plus customers.

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