Peacock is raising its prices for the first time since the streaming service launched in summer 2020. It's joining the flock of streamers that have recently increased rates, including Netflix, Disney Plus, Max, Paramount Plus and Apple TV Plus.
New Peacock subscribers will see the price hike almost immediately, while it will take effect for existing users on monthly plans starting August 17. Peacock Premium is going up $1 to $5.99 per month. Premium Plus — which offers a mostly ad-free experience, episode downloads and a live NBC feed — is increasing by $2 to $11.99 per month. Subscribers on annual plans spared until their terms end, when those rates will also go up.
In March, Peacock had 22 million subscribers, up more than 60% year over year. But even so, it's a money-losing operation and the entire streaming industry has gone through a shake-up that has placed more emphasis on revenue and less on subscriber gains.
As a result, nearly every streaming service has raised its rates in the past year. Last month, Paramount Plus instituted a price hike to usher in the newly-rebranded Paramount Plus with Showtime tier.
Peacock held out longer than most, which is why we gave it the 2023 Tom's Guide Award for best value streaming service.
Is Peacock still worth it?
Peacock is still a great value, even though it got rid of the Peacock Free option last year. As corporate owner Comcast noted, the service has added over 80,000 hours of content since its launch, including exclusive movies from Universal Filmed Entertainment Group, next-day NBC and Bravo episodes, streaming channels from Hallmark and Reelz, as well as live sports and news.
Peacock has been flying high recently, thanks to originals like Poker Face, the Traitors and Mrs. Davis. The best Peacock shows are worth a binge; we highly recommend We Are Lady Parts and Rutherford Falls. Plus, the service mines the deep NBCUniversal catalog, so you can stream The Office, Parks and Recreation and the Real Housewives franchise. And in a quirk of streaming rights, Peacock is where you can watch Yellowstone online.
Plus, Peacock has live sports, an area where the mighty Netflix is still trying to play catch-up. Peacock has NFL football, Premier League soccer, tennis, golf, cycling and the Olympics. Not to mention, the WWE.
