Peacock streaming subscription costs to extend earlier than Summer season Olympics

The value of Peacock is flying larger.

Subscription costs for Peacock, Comcast‘s reply to the streaming wars, will improve by $2 this summer season. The value adjustment is a manner for Comcast’s NBCUniversal to capitalize on the Summer season Olympics in Paris, which is able to air on NBC’s TV networks and streaming platform.

Peacock’s ad-supported choice will improve by $2 to $7.99 a month, and its ad-free providing will rise by the identical quantity to $13.99 a month. The annual value for Peacock with advertisements might be $79.99, whereas the ad-free model will value $139.99 a 12 months.

The value will rise for brand spanking new subscribers starting July 18, whereas current clients will get hit with the brand new pricing on or after Aug. 17. The Summer season Olympics start in late July.

Media corporations have appeared for tactics to make streaming worthwhile, as most nonetheless lose cash on the enterprise. Promoting has been a key a part of this technique, in addition to value will increase.

This value improve is Peacock’s second within the final 12 months. Efficient final August, ad-supported Peacock’s value rose $1 to $5.99, and ad-free went up $2 to $11.99 per thirty days.

Whereas father or mother firm Comcast touted Peacock as a shiny spot throughout its current earnings name, losses stemming from the streamer have weighed on earnings. Losses had been mentioned to have peaked in 2023, and executives count on they will slender in upcoming quarters.

Peacock includes a vary of dwell sports activities content material from the NFL to Premier League, and sometimes sees an uptick in subscribers throughout marquee occasions such because the Olympics.

The streaming service launched in 2020 in time for the Summer season Olympics in Tokyo — which was pushed to 2021 as a result of pandemic. Peacock now has 34 million subscribers.

Huge sporting occasions typically entice extra clients. Executives said last week Peacock’s unique NFL Wild Card recreation in the course of the first quarter helped so as to add, then retain, extra clients than anticipated.

The streamer has additionally benefited just lately from being the primary unique house to Common Footage’ Academy Award darling and field workplace hit “Oppenheimer.”

Peacock’s income rose 54% to $1.1 billion in the course of the first quarter in comparison with the identical interval final 12 months. This was due partially to elevated promoting income, which has lagged for conventional TV networks just lately.

Executives final week mentioned the Summer season Olympics is anticipated to usher in document promoting income since extra occasions might be featured on broadcast community NBC, along with being streamed solely on Peacock.

Disclosure: Comcast is the father or mother firm of NBCUniversal and CNBC.