NBC's paid subscription service, Peacock, is set to increase its prices just before the 2024/25 Premier League season. This move has significant implications for sports fans and sports betting enthusiasts who rely on the platform for their Premier League viewership.
This marks the second consecutive summer that Peacock is raising its monthly subscription costs. For the 2023/24 season, subscribers enjoyed a relatively low cost of $5.99 per month, making it cheaper than ESPN+ and on par with Paramount+. However, this major price bump in summer 2024 could potentially impact how fans access their favorite sport.
Starting July 18th, both the Peacock Premium plan and the Peacock Premium Plus option will see a $2 increase in price. This means that from July onwards, subscribers will have to pay $7.99 per month for regular access or $13.99 per month for ad-free content and download privileges.
While price hikes are not uncommon in streaming services industry, this significant jump may be a deterrent to some subscribers.
Annual subscription has taken a big hit
The annual subscription options are also affected by these changes. Previously offering great value at $60 for a full year of access - an attractive deal especially for Premier League fans who watch at least four games every weekend exclusively on this service - now sees an increase as well.
The annual cost of the Peacock Premium plan is rising from $60 to $80 while that of the Premium Plus plan goes up from $120 to $140.
Existing users won't feel these changes until August 17th which coincides with the conclusion of Paris Summer Olympics in 2024 – an event largely covered by Peacock for US football fans.
Broadcasters looking to make most of booming US market
Despite much of these increases being driven by Olympic coverage needs, it's the Premier League fans who stand to be most affected. While many may be willing to pay a little extra for extensive coverage of an event that only happens every four years like the Olympic games, the implications for regular Premier League viewership are more serious.
The $2 monthly increase means that subscribers will have to shell out significantly more over time just to watch games on this platform. Peacock plays a crucial role in broadcasting Premier League matches, with exclusive games and simulcasts of NBC broadcast channel games.
With features like Goal Rush - the Premier League’s whiparound show - fans can often watch as many as seven games on Peacock during some matchdays. Even with an annual subscription option available, this price hike is another unfortunate consequence of evolving streaming services.
Both existing and new customers are advised to take advantage of the lower annual subscription cost for Peacock Premium before prices go up in mid-July. An annual subscription purchased before then will offer far better value than signing up just before major events such as the Olympics or right before the start of the new Premier League season in August.
