The Peacock Premium Plus price increase has been revealed, raising the prices of Premium and Premium Plus for the latter half of 2023 and beyond. Here is the need-to-know information about why Peacock is increasing prices and how much prices are going up by.
Why is Peacock raising prices in 2023?
Peacock is raising its prices so that it can “continue to invest in the best user experience and the highest-quality content while remaining competitive in the marketplace.”
Following the removal of its free tier, Peacock TV is getting a price increase, with NBCUniversal clearly keen to make more money from the service. Previously, Peacock TV reportedly operated at a loss, and the streamer is still estimated to lose around $3 billion in 2023, even with the new price increase.
With many other services bumping their prices up in recent months, NBCUniversal is likely hoping that subscribers will just see this as normal behavior and continue to pay the fees.
How much is Peacock increasing prices by?
Peacock is increasing its Premium tier to $5.99 per month (a $1 increase) and its Premium Plus tier to $11.99 per month (a $2 increase).
While the price increase might seem relatively minor, the combined rise in costs across many other streaming services may cause users to assess their monthly subscriptions and cut off the streamers that they aren’t using so much.
For NBCUniversal, it appears the risk of losing users is necessary to turn a profit in a market that has become heavily saturated. Of course, it’s up to the users whether or not they keep using Peacock TV. The cancellation process remains the same for those who wish to leave.
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