New Delhi:- Peacock brings bad news to its subscribers tonight. As of 12 pm EDT, the streamer will notify existing customers that they will be increasing their subscription prices on August 17th. This change affects new customers immediately. This is the first price increase for Peacock since its launch.

Users will have to pay $5.99 instead of $4.99 per month for premium (with ads). Premium Plus (no ads), on the other hand, increases by $2 to $11.99 per month. The reason for the change, according to the company, is so that it can continue to invest in providing high-quality content and user experience.

And with competitors such as Netflix and Max charging upwards of $19.99 per month, the price hike will allow Peacock to remain competitive in the market. Last year, Apple TV+ subscription prices increased to $6.99 per month. 

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Paramount+ also recently increased its advertising plans to $5.99 per month and its new ad-free slot, Paramount+ with Showtime, to $11.99. Peacock is priced the same as Paramount+, but that doesn't mean the streaming service has dozens of Showtime Originals to brag about.

But the streamer is promoting a live sports service that it describes as the largest direct-to-consumer streaming service in the US, with over 5,000 hours of content. These include the Women's World Cup, Sunday Night Football, Premier League, Big 10, and more.

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Peacock also offers subscribers daily live news, 24/7 streaming channels, and original titles such as "Poker Face" and "Mrs.". Davis", "The Continental", "Bel-Air", "Doctor Death", "Inspired by a True Story", and "Bupkis". He's also the only Premium He streamer with next-day access to all new shows on NBC and Bravo. 

Peacock has published more than 80,000 hours of content since its launch in 2020, according to the company. The price increase comes as the company reported a loss of $704 million in the first quarter of 2023, up from $456 million in the same period last year.

Peacock eliminated the free service and options for new customers to make more money. Also, Xfinity customers are no longer bundled with the ad-supported tier at no extra charge. 

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Peacock an Entertainment Platform that offers a wide range of options for users is now increasing the subscription rates for all users till the month of August as they are now going to invest in high-quality content and experience and will upgrade itself more than before.