NBCUniversal just announced its streaming service Peacock is increasing its prices for the first time since its launch in July 2020.

The price hike will officially take place for current subscribers on Aug. 17, with the monthly Premium subscription increasing by $1 to $5.99 a month. Meanwhile, the Premium Plus subscription — which distinguishes itself from the plain Premium subscription with featuring almost no ads, access to downloading episodes, and live and local NBC channels — will increase by $2, for a monthly subscription cost of $11.99.

According to The Hollywood Reporter, the amount of subscribers hit 22 million in the first three months of 2023, which the platform said will allow “Peacock to continue to invest in the best user experience and the highest-quality content while remaining competitive in the marketplace.”

Over the past three years, Peacock has added more than 80,000 hours of content to the platform, including new NBC and Bravo series episodes the day after they air live (such as Below Deck), CNBC and MSNBC’s morning news, Hallmark and Reelz programs, and some Universal Filmed Entertainment Group exclusive movies.

The latter made headlines in 2021 with the platform announcing that most of the studio’s films would be released on Peacock about 45 days after their theatrical releases.

Peacock isn’t alone in hiking up their charges. Over the past year alone, consumers have been subject to an array of streaming provider price hikes and service changes, including Disney+ creating a premium ad-free subscription option in August 2022, Hulu increasing their prices in October 2022, YouTube TV raising their prices by $8 a month in March 2023, Max increasing the cost of their ad-free plan to $15.99 in January, and Netflix cracking down on password sharing … and the list goes on.

Nonetheless, the price increase is likely to manage the $3 billion in peak losses, per THR. The updated prices are already visible to prospective subscribers on Peacock’s website.