SOME TV watchers will be paying more in monthly costs in just days.
A popular streaming service is increasing prices as it competes with top rivals like Netflix this summer.
Consumers will soon pay more for a popular streaming service (stock image)[/caption]
Peacock is increasing prices starting in July (stock image)[/caption]
As of July 23, Peacock, operated by media giant NBCUniversal, will charge new customers a bit more to sign up, per Reuters.
The current $7.99 per month fee to get an ad-tier subscription will instead be $10.99, an uptick of nearly 40%.
Premium plus plans will also go to $16.99, up from $13.99.
Current customers will briefly avoid the change.
Those who have either Peacock plan before July 23 will have their rates remain the same until on or after August 22, depending on their billing cycles.
With the price changes, Peacock is also testing a “Select” tier subscription that will stay at the $7.99 price point, except it limits viewing to only next-day Bravo and NBC entertainment.
This includes Real Housewives or Saturday Night Live, for example.
Love Island, Sunday Night Football, The Traitors, and other popular shows will not be included in the new tier.
CONSISTENT TREND
The last time Peacock increased prices was about a year ago in July 2024, with the base ad-tier going from $5.99 to $7.99.
Paramount Plus did the same thing a month earlier.
Netflix made its increase in January of this year, with its ad-tier going to $7.99.
Disney+, HBO Max, and Hulu have all hiked up their individual prices to starting at $9.99, and Prime Video is $8.99.
That means that starting July 23, Peacock will have the most expensive ad-tier subscription of the top streaming platforms.
Despite the increases, Peacock is offering a way for customers to save.
Current Base Prices for Top Streaming Platforms
- Netflix: $7.99/month
- Disney+: $9.99/month
- Hulu: $9.99/month
- HBO Max: $9.99/month
- Apple Tv+: $9.99/month
- Paramount Plus: $5.99/month
- Peacock: $7.99/month ($10.99 starting July 23)
Purchasing the yearly bundle would mean an annual subscription cost with ads at $109.99, and the premium, non-ad-based version at $169.99.
COSTLY PRODUCTIONS
Membership costs are becoming more expensive as the streaming platforms pay more for show productions.
Amazon Prime shelled out about $58 million per episode of The Lord of the Rings: The Rings of Power, per Quartz.
Douglas Anmuth, an analyst with JPMorgan, predicted that Amazon Prime members specifically could pay about $20 more in 2026.
“A $20 US Prime price increase is seen driving about $3 billion in incremental annualized net sales,” the analyst told The Street.
His prediction is based on Amazon’s pattern of raising prices about every four years on top features.
Some platforms are also partnering with food service companies.
For example, last May, Amazon Prime partnered with Grubhub to offer free food and grocery delivery.
In August of last year, DoorDash and Max were also offering a deal to DashPass subscribers.
