Shocking, isn’t it? While all the OTT platforms are experiencing a lucrative rise, Peacock is standing as an exception. In the US, they exist as one of the most prominent players in the streaming services. So what raises the concern?
In the US alone, they have a fanbase of 24 million. Even in the past quarter, Peacock added 2 million to their existing fanbase, showing a massive rise from the 13 million they had the previous year.
Their growth in the subscriber base is impressive, and their revenue also saw a significant increase. The revenue jumped 85% year over year to $820 million.
However, amidst all these successes, Peacock registers a staggering loss, and the balance sheets aren’t looking the best for them. They recorded a loss of $651 million in Q2 alone, which is less than the $704 million loss in Q1.
Last week, Peacock notified existing customers that it’s getting a price hike on August 17. This will be their first price hike since 2020 after their launch. Peacock’s Premium plan will go from $4.99 to $5.99 per month, whereas the ad-free Premium Plus tier will get a $2 increase to come in at $11.99 per month.
Peacock has lately built a strong entertainment lineup and is stating that the content library justifies their price hike. Besides entertainment, it has also become a strong contender in sports streaming, offering sports like Women’s World Cup, Sunday Night Football, Premier League, as well as an exclusive NFL playoff, which is quite impressive.
Even with being a late bloomer in the game, Peacock has developed itself in a very strong manner. It holds some strong original titles and will even be the home for the upcoming “The Super Mario Bros. Movie” starting on August 3.
Though the stats aren’t too concerning, it still could affect JioCinema’s foreign venture. As they start to make their mark in the competitive environment of India, it might turn into a concern for them as well. However, with a slow but steady growth, Peacock is creating a name not only in entertainment but also in sports streaming, and its cost-efficient plans are likely to attract more users.
