Peacock Increases Subscription Rates by $3 Starting Next Week

Starting July 23, Peacock will implement a $3 increase in its subscription fees, impacting both new and returning users. The Comcast-owned streaming service confirmed the change, which will see Peacock Premium priced at $10.99 per month and Premium Plus at $16.99 per month.

Peacock Premium, the ad-supported tier, offers a variety of content, while Premium Plus provides an ad-free experience along with live programming from NBC channels and the option to download select titles for offline viewing.

Annual subscription rates will also rise, with Peacock Premium now costing $109.99—an increase of $30—and Premium Plus priced at $169.99. Subscribers will notice these changes reflected in their billing cycles on or after August 22.

In addition to the price hike, Peacock is testing a new tier called "Select," which will offer current seasons of NBC and Bravo programming alongside a broad library of titles for $7.99 monthly or $79.99 annually.

As of the end of the first quarter, Peacock reported 41 million paid subscribers, a notable increase from 34 million during the same period last year. This growth aligns with the platform's successful offerings, including popular shows like "Love Island USA" and various live sports events.

Recent data indicates that 46% of Americans now prefer streaming services for their TV and movie consumption, compared to approximately 23% for cable and 18% for traditional broadcast television, according to Nielsen.

"Consumers are now spending more time each day streaming TV than watching broadcast and cable TV combined," noted Richard Greenfield, a media analyst at LightShed Partners, highlighting the shift in viewing habits.

Comcast's extensive media portfolio includes NBCUniversal, NBC, Telemundo, and local TV stations, as well as international outlets like Sky Sports.