Looking forward to rewatching “The Office”? It’s going to cost you even more now.
Peacock, NBCUniversal’s own streaming service, is instituting its first-ever price hike since launching in 2020, Variety reported.
NBCUniversal notified the platform’s users last month they will now pay $5.99 per month for Peacock Premium, effective Aug. 17. The original price was $4.99.
Additionally, the ad-free Peacock Premium Plus plan will now cost $11.99 per month, up from $9.99 earlier this year.
The change will go into effect for existing subscribers with their next billing cycle on or around Aug. 17, and new customers will pay the updated price immediately after subscribing.
Subscribers can save 17 percent if they choose the annual plan, per Peacock’s website. The ad-supported Premium tier will be available for $59.99 per year, and the ad-free Premium Plus version will cost $119.99 per year.
At the end of its first fiscal quarter this year, Peacock hit 22 million subscribers. This was up more than 60 percent year over year, according to NBCUniversal’s parent company Comcast.
Since then, the streaming platform added two more million subscribers for a total of 24 million, The Verge reported. That was about the same amount Comcast reported gaining in the first quarter.
Both fiscal 2023 quarters combined however did not meet the numbers the company saw in 2022’s fourth quarter, which brought in an additional five million paid subscribers.
Do you pay for Peacock?
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Still, NBCUniversal is projected to lose $3 billion on investments in Peacock at the end of 2023.
Peacock is one of many streaming services jacking up their prices to increase profitability in the face of major losses.
These platforms include Paramount+, Disney+ and Netflix, which was the first to raise its prices in early 2022.
Because streaming is becoming so expensive, some companies are losing customers.
In the first three months of 2023, Disney+ lost four million paid subscribers despite its extensive library of Marvel, Star Wars, Pixar and National Geographic titles, per Variety. Disney will unveil its next quarterly earnings report soon as it’s typically released in August.
More recently, Warner Bros. Discovery’s Max, formerly known as HBO Max, lost 1.8 million subscribers in the three months since the platform was renamed in May, according to The Verge.
If you want to learn more about Peacock’s and other streamers’ latest price hikes, watch the video below.
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Besides “The Office,” Peacock has fan-favorite television shows like “Yellowstone,” “Parks and Recreation” and “New Girl” available for streaming.
It also shares the Harry Potter film series with Max.
