Streaming service Peacock is raising the prices of its subscription plans, if you have an inclination to rewatch The Office for the hundredth time. The ad-supported Premium subscription goes up by a buck, to $6 per month, while the ad-free Premium Plus option shoots up two bucks to $12 per month. An annual Premium subscription is going up $10, so $60 per year, while the Premium Plus subscription increases $20, making it $120 per year. This all goes into effect on August 17th, according to an email sent to current subscribers.
This is actually the first price hike for the NBCUniversal-owned streaming service since launching back in 2020. The increase impacts both current and incoming subscribers. The streamer nixed its free tier earlier this year, so you have to pay up to learn if Jim and Pam ever share that paper-drenched kiss.
Why the price hike? Peacock is hemorrhaging money, despite a rapidly-increasing subscriber base. As of April, the streamer boasted 22 million paying subscribers, but increased programming costs led to a loss of more than $700 million. NBC’s golden child was the last holdout, as every other major streaming platform already slapped subscribers with price bumps. Paramount+ prices shot up in February and the same goes for Max, Disney+, Apple+ and all the rest.
This could all be moot if those dual Hollywood strikes aren’t resolved in the short-term, as the streamers will run out of content quicker than you can say “go outside and touch grass.” Shows premiering now were filmed last year, thereabouts, so expect a serious dry spell next year around this time.
As for Peacock, there’s a reason it reached over 20 million subscribers in just a couple of years. It’s not just home for The Office and other beloved, though ancient, sitcoms. The service streams tons of live sports, including NFL football, Premier League soccer and WWE wrestling. It’s also gotten itself a stable of decent original programming, from the absolute lunacy of Mrs. Davis to the critically-acclaimed old-school sleuthing of Poker Face.
This article originally appeared on Engadget at https://www.engadget.com/peacock-raises-subscription-prices-for-the-first-time-164405324.html?src=rss