NBC’s Peacock streaming service implemented a major price hike for new subscribers this week — days before the hotly anticipated 2024 Summer Olympics are set to begin.
On Thursday, the Comcast-owned streamer began charging new subscribers $7.99 for Peacock’s standard ad-supported tier, called “Premium.” That’s a 33% increase compared to its old price of $5.99 per month. The “Premium” tier’s annual cost jumped $20 to $79.99, up from $59.99.
The ad-free “Premium Plus” plan is even more expensive, with an updated price tag of $13.99 per month. Before the hike took effect, it cost $11.99 per month. The annual cost also increased $20 to $139.99 per year, up from $119.99 per year.
For existing Peacock subscribers, the price increase will take effect a bit later – on or after Aug. 19, depending on their next billing date.
NBC announced the pricing changes last April. It marked the second time in the last two years that the network has raised subscription prices for Peacock.
The network’s exclusive coverage of the 2024 Olympics in Paris begins on July 26 and runs through mid-August – with many events streaming on Peacock.
Some viewers vented their frustration about the latest increases on Reddit.
“Time to cancel,” one wrote.
Another Redditor wrot, “I keep forgetting that I have Peacock because there is nothing on there that screams “watch me!”
Peacock had 34 million subscribers as of the first quarter of 2024 – an increase of 55% compared to the same period one year earlier, but still far behind the likes of Netflix, which has more than 277 million subscribers around the world.
NBC is just one of many streaming companies that have hiked prices as they look to cash in on subscribers in the increasingly competitive market.
Last month, WarnerBros. Discovery raised the price of its ad-free “Max” streaming service.