Peacock will raise its price in August 2023

NBC’s Peacock streaming service will increase its subscription price starting August 17. It’s the first time the service has increased prices since launching in 2020.

According to Variety, “effective August 17, for existing users on their next billing cycle and immediately for new customers, the price of Peacock Premium (with ads) will increase by $1, to $5.99 per month, and Peacock Premium Plus (which is mostly commercial-free) will rise $2, to $11.99 per month.”

Media outlets have reported the hike in price is due to the increase of subscribers. The service now has “nearly 22 million” subscribers, and, according to NBC Universal, the new price will allow Peacock “to continue to invest in the best user experience and the highest-quality content while remaining competitive in the marketplace.”

Peacock is an extension of NBC Universal and features both live and on-demand watch options. Earlier this year, the company shut off access to Peacock’s free tier for new users and, in June, stopped bundling Peacock Premium for free for Comcast’s Xfinity customers.