NBCUniversal is yet another media corporation to have a go at launching its own streaming service. Peacock will arrive in the United States on July 15 (April 15 if you are an Xfinity customer). There are three options to choose from, including a free version.
Looking to stand out
The product is named after NBC’s famous multicolored logo that resembles the flamboyant bird. The American corporation previously announced that there will be a $4.99-per-month version and a $9.99-per-month option. However, the firm has now shed further light on its free edition.
NBC believes that Peacock Free will generate a surge of advertising revenue from its viewers. Since there are countless paid streaming packages out there from Netflix to Amazon Prime, many consumers may initially be reluctant to invest in another entertainment service.
Therefore, the company hopes to snap up an audience with its free offering while still earning an income via advertising.
CNBC reports that the service is set to provide 7,500 hours of content, including next-day access to current seasons of first-year NBC exclusives. It will also show classic programming, Universal movies and curated content such as “SNL Vault”.
Meanwhile, the $4.99-per-month version of Peacock Premium will still come with adverts but there are some bonuses to be gained. Along with the ad-free $9.99-per-month package, the premium offering includes live sports and early access to late-night shows.
Fans of The Tonight Show Starring Jimmy Fallon will be able to see the show at 8 pm ET instead of its standard time of 11:35 pm. Along with this, those who don’t want to wait up to watch Late Night with Seth Meyers can catch the show at 9 pm ET instead of 12:35 am ET.
Furthermore, from August, it will host in-demand non-televised Premier League soccer games. Additionally, the Ryder Cup will be shown on it from September. NBC highlights its offering of sports as a game-changer as its competitors such as Disney+, HBO Max and Netflix don’t provide live footage.
However, Amazon Prime has successfully introduced important live sports games such as ATP tennis and Premier League soccer on its platform.
Could be a mainstay player
Nonetheless, as the format develops, Peacock can effectively become a stronghold within the streaming market. NBC was the original network that timeless shows such as Friends and The Office were broadcasted on.
Therefore, once their deals with other streaming services come to an end, they could naturally appear on Peacock. Ultimately, NBCUniversal hopes to have 30 million to 35 million active users of Peacock by 2024.
Even though Peacock offers a free option, it already implies that the high demand content will only be available via a paid option. Therefore, consumers have to once again increase their expenditure on streaming products in order to be able to watch their favorite shows, which are continuing to be split.
The initial unique selling point for streaming services was that a consumer only had to pay less than $10 for the majority of their favorite shows in one place. However, now with several key media companies going against each other for a bigger slice of the pie, the consumer has to multiply this amount across the board.
Additionally, many still choose to have a cable subscription. Altogether, there could soon be overkill with the number of subscription services available.
What are your thoughts about Peacock’s business model? Let us know what you think in the comment section.