Peacock Raises Prices Up to 38% Ahead of NBA Streaming Launch

Peacock, the NBC-owned streaming service, is significantly raising its subscription prices effective July 23, with the ad-supported tier increasing from $7.99 to $10.99 per month and the ad-free plan rising from $13.99 to $16.99 per month. This marks the third price increase in three years and represents nearly a 38-40% hike for the ad-supported tier, making Peacock more expensive than many competitors like Netflix and Disney+. The price increases are largely driven by the cost of securing extensive live sports content, including a new $2 billion annual NBA package featuring exclusive games, as well as other major sports events like Big Ten football, NFL games, and the Olympics. To accommodate viewers who want lower pricing, Peacock is introducing a new $7.99 ad-supported tier called Peacock Select, which excludes live sports and Peacock originals. While Peacock has grown its content offerings, especially in live sports, the steep price hikes raise concerns over potential subscriber losses amid an already competitive streaming market. Comcast's strategy aims to position Peacock as a premium service, but consumer reaction to the rapid and substantial cost increases remains uncertain.