NBC names its new streaming service 'Peacock' - CNBC

Steve Burke, Chief Executive Officer, NBCUniversal during the 2016 NBCUniversal Upfronts

Peter Kramer | NBCUniversal

NBCUniversal's new streaming service will be named "Peacock," the company announced Tuesday.

The ad and subscription-supported service will roll out in April 2020 with a content slate including "The Office" and "Parks and Recreation." The Comcast-owned company said it would announce pricing details closer to the launch.

The name "Peacock" is an homage to NBC's colorful logo, the company said in a press release. With the name, NBCUniversal distinguishes its service from Disney and Apple's new streaming offerings, dubbed Disney+ and Apple TV+. Disney's new service will cost $6.99 per month or $69.99 for a full year, while Apple's will cost $4.99 per month for a family subscription. Both services are expected to launch in November.

AT&T's WarnerMedia is also expected to launch its own streaming service in the spring of 2020 at a price point between $15 to $18. The new services will have to compete with existing players including Netflix, Amazon and Hulu, of which Disney owns a stake.

As the space heats up, companies have been spending big to lock down popular shows. NBC announced in June that it would remove "The Office" from Netflix in 2021 so it could be a part of its own streaming slate. The comedy was the most-watched show on Netflix in 2018, according to data from the analytics firm Jumpshot.

Disclosure: NBCUniversal is the parent company of NBC and CNBC.

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