By Phillip Swann
The TV Answer Man – @tvanswerman
Peacock, the subscription streaming service owned by NBC/Comcast, has raised the price of its Premium and Premium Plus plans by $1 a month and $2 a month respectively.
When Is Peacock Raising Prices For Existing Subscribers?
The increase is effective now for new customers and will go into effect for existing subscribers on August 17. The Premium plan, which includes ads, will rise from $4.99 a month to $5.99 a month. The Premium Plus plan, which does not include ads with a few exceptions, will increase from $9.99 a month to $11.99 a month.
The annual plans are also getting a price hike. The annual Premium package will go from $49.99 a year to $59.99 a year while the annual Premium Plus plan increases from $99.99 a year to $119.99 a year. If you have previously paid for an annual plan, your price will not increase until your year is over.
The new prices are similar to Paramount+’s new fee structure. After adding Showtime to its lineup last month, the streamer raised the ads-free Paramount+ with Showtime plan from $9.99 a month to $11.99 a month while the ads-included plan (which only includes Paramount+, and not Showtime) increased from $4.99 a month to $5.99 a month.
This is the first price increase for Peacock since the service launched in 2020. But Comcast has forecast that Peacock will lose billions of dollars in 2023 due to program costs and increased competition from well-heeled services such as Netflix, Max, Amazon’s Prime Video, Disney+, Hulu and Paramount.
And Peacock is not alone here. The streaming industry as a whole is seeking to find profits through price hikes, program reductions and reduced workforces. Max, formerly known as HBO Max, earlier this year also raised its prices.
Can You Still Get a Peacock Discount Through Xfinity?
Comcast provided the Peacock Premium plan for free to Xfinity video and Internet subscribers when the streamer launched in 2020. However, it ended the free perk last month. Xfinity subscribers, however, can still sign up for Peacock Premium at a discounted rate of $2.99 a month for 12 months until August 25, 2023. (The regular rate, which is now $5.99 a month, will apply after the 12 months unless you cancel.) Say ‘Peacock’ into your Xfinity voice remote to get started with the subscription.
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— Phillip Swann