Comcast released its second quarter earnings report Thursday morning and included subscriber numbers for Peacock. The report showed that Peacock’s subscriber growth has stalled, staying at 41 million, the same as the company reported for the previous quarter.
One positive for the service was quarterly losses. In the previous quarter, Peacock reported $215 million in quarterly losses. For Q2, the company reported $101 million in losses, with revenue at $1.2 billion.
During the earnings call Thursday morning, Comcast president Mike Cavanagh addressed the price hike that Peacock announced earlier this month.
“We recently announced a $3 price increase rolling out in July for new subscribers and in late August for existing ones,” Cavanagh said on the call. “The impact of this price increase, combined with the strong upfront results I just discussed, helped position us in the fourth quarter as we launched the NBA and take on higher sports program expenses, particularly in the first year of the NBA contract, when we absorb the full impact of adding these new rights.”
The price for Peacock Premium will increase by $3 to $10.99 per month and Premium Plus by $3 to $16.99 per month. Peacock’s annual price will be $109.99 per year for Premium and $169.99 per year for Premium Plus.
Along with the price hike on existing plans, Peacock will be testing a new tier, called Select, which will be priced at $7.99 per month or $79.99 per year. The new tier will include current seasons of NBC and Bravo shows and a library of on-demand content.