Now, Comicbook.com reports that Peacock will be increasing the prices in August. The streamer's ad-ed version of Peacock will go from $4.99 to $5.99 per month, while the ad-free version will increase from $9.99 to $11.99 per month. Peacock has now ed the ranks of streaming services who have been hiking up prices over the last few years.

Why Streaming Services Keep Getting More Expensive

Peacock isn't the first streaming service to increase its pricing in 2023. HBO Max increased its price for the first time in January 2023, with monthly subscriptions getting bumped up by $1 a month. Netflix last raised their prices in 2022, with their plan now standing at $19.99 per month.

A big reason why streaming services have been getting more expensive is because more content is being created for them. Original series like Netflix's Stranger Things and Peacock's Poker Face, for instance, are funded due to the monetary success of their respective streaming services. To make sure the companies that own said streamers can produce original content while making a profit, it means prices for streaming services have to increase. However, increased prices might give way to more content with higher production value.

Even so, the constant increase in subscription service pricing could deter new subscribers from ing. Subscription services like Peacock will need to prove the increased price of their platform will lead to high-quality original movies and shows being put out at a faster rate. However, with the ongoing actors and writers' strikes currently taking place in Hollywood, it remains to be seen what Peacock will produce to justify the price increase.

Source: Comicbook.com