New Market Perspective
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

New Market Perspective

Business

Peacock raising prices by $2 ahead of the Summer Olympics as streaming wars rage on

by admin April 30, 2024
April 30, 2024
Peacock raising prices by $2 ahead of the Summer Olympics as streaming wars rage on

NBCUniversal streaming service Peacock plans to raise prices for its ad-free service by $2 to $13.99 a month ahead of this summer’s Olympic Games in Paris as competition for online viewership intensifies.

Peacock’s ad-supported option will also increase by $2, to $7.99 a month. The annual price for ad-free will cost $139.99, while the version with ads will be $79.99.

The price changes will take effect for new subscribers starting July 18, one week ahead of the 2024 opening ceremony. Existing customers will see the new pricing on or after Aug. 17.

Even with the latest increases, Peacock still stands on the lower end of streaming platform price ranges. Netflix’s top-tier subscription now costs $22.99 a month, while ad-free Hulu is $17.99 and premium Max (formerly HBO Max) is $19.99. Peacock’s newest prices will match those of Disney+ once the changes take effect.

Peacock currently has 34 million subscribers, giving it about 1.3% of the total TV market according to Nielsen data. That compares with 1.2% for Max, 1.9% for Disney+ — and 7.7% for Netflix.

Overall streaming viewership continues to climb, rising 12% in March year-on-year according to Nielsen, and now commands nearly 40% of all TV consumption. Yet the platforms are still aggressively fighting for viewers. The latest casualty of that battle is Bob Bakish, who is stepping down as CEO of Paramount as that company continues to push its Paramount+ service, with mixed results.

While traditional media companies represent the main players in the streaming race, it is a traditional tech company that now dominates: YouTube, which is owned by Google-parent Alphabet, attracts the largest share among streaming platforms, with some 10% of the entire market alone.

Sreaming platforms continue to raise prices even in the face of ‘subscription fatigue,’ a phenomenon that other players have begun capitalizing on with the introduction of advertising-based video-on-demand (AVOD) channels like Pluto TV and Tubi.

“Because we know that subscription fatigue is setting in, people will only pay so much for subscriptions,’ Pluto TV CEO Tom Ryan said in a speech last fall. ‘You need the ability to actually expand your bundle for free.”

While the service is not yet profitable, Peacock continues to add users at a steady clip. It received an outsized bump in users thanks to the NFL playoff game it showed last season, most of whom have stayed with the service, executives said on Peacock-parent Comcast’s most recent earnings call. Peacock is also set to exclusively stream the 2024 NFL season’s kickoff game September 6 in Brazil.

Streaming platforms have also sought to protect their revenues from password sharing. While Peacock has not done so, many apps continue to announce new limits on the practice. In March, Max, which is owned by Warner Bros. Discovery, said it would start limiting individual account access in 2025, following on the heels of similar announcements by Netflix and Disney+.

Disclosure: Comcast is the parent company of NBCUniversal and NBC News.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Biden administration to require advanced safety tech on all new cars and trucks
next post
JPMorgan CEO Jamie Dimon hopes for soft landing for U.S. economy but says stagflation is possible

Related Posts

Super Bowl ads beckon up to $8 million...

January 31, 2025

Mass layoffs hit Sports Illustrated staff

January 20, 2024

Bank of England holds rates, stresses June cut...

May 10, 2024

DJT shares jump after Trump Media rolls out...

August 4, 2024

Etsy CEO says company is escaping ‘race to...

July 10, 2024

UnitedHealth CEO suddenly steps down for ‘personal reasons’

May 14, 2025

Shareholders push casinos to reassess indoor smoking

May 10, 2024

Business is good in ‘Vacationland.’ It would be...

August 6, 2024

Home sale commissions are getting a shake-up this...

August 18, 2024

CrowdStrike losses may be biggest test yet of...

July 25, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • UK police make second arrest in connection with fires linked to PM Starmer

      May 18, 2025
    • Deported mom says toddler’s return to Venezuela after separation by US authorities was a ‘miracle’

      May 18, 2025
    • Duterte scores landslide win in local elections. But can he be mayor from The Hague?

      May 18, 2025
    • Austria’s JJ wins Eurovision 2025 with ‘Wasted Love’

      May 18, 2025
    • How Pope Leo dealt with years of abuse allegations in a powerful Catholic society in Peru

      May 18, 2025
    • The popemobile, a signet ring and a ‘betrothal:’ How Pope Leo’s inauguration will unfold

      May 18, 2025

    Popular

    • 1

      10 Top Oil-producing Countries (Updated 2024)

      October 19, 2024
    • 2

      Powered by rain, this seed carrier could help reforest the most remote areas

      December 19, 2023
    • 3

      A troubling theory about traders profiting from Hamas’ attack on Israel drew much attention. Why it may not be so simple.

      December 13, 2023
    • 4

      Americans are starting to feel better about the economy and inflation

      December 13, 2023
    • 5

      Rare Earths Stocks: 8 Biggest Companies in 2024

      January 12, 2024
    • 6

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 7

      Investing in Graphene Companies

      May 9, 2024

    Categories

    • Business (1,322)
    • Investing (3,124)
    • Politics (4,105)
    • World (4,057)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: newmarketperspective.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 newmarketperspective.com | All Rights Reserved