The Olympics Could Play a Critical Role in Peacock, Discovery+ Streaming Success

In a competitive streaming market, companies have to offer something different to encourage consumers to subscribe to one service over another. As bigger names have risen to the top, some services have struggled to keep up. Now, the 2020 Summer Olympics could have a major impact on some of the streaming services that were previously running behind.

Peacock has the rights to stream coverage of the Olympics in the United States, while Discovery+ has rights to stream coverage throughout Europe.

Those who want to stream the Olympics are left to use Peacock or Discovery+. As a result, the two services are drawing in more viewers during the Games.

Variety notes that while the numbers for the Olympics have not been too impressive so far, they remain an important part of promoting both Discovery+ and Peacock. The exclusivity of the games can help these less popular streaming services catch up to the bigger names in the business — such as Disney+, HBO Max, Netflix, and Hulu.

Previously, Matt Strauss, Peacock’s chairman, called the Olympics a “meaningful driver” for the streaming service. Dan Ives, an analyst at Wedbush Securities, predicted a 30% increase in Peacock subscribers because of Olympic coverage.

Now that Peacock and Discovery+ are gaining greater attention from consumers, the streamers will have to find new ways to keep their numbers up. It looks like Peacock has already been planning for this.

Once subscribers are in the Peacock app, they can enjoy a variety of movies and shows on-demand while they take a break from the Olympics. Later this year, Peacock will release more original content, including 60 new series.

Going forward, Peacock will be offering more sports content, which will appeal to its Olympic audiences. All IndyCar races will be streamed on Peacock next year. Peacock will also stream Premier League games throughout the 2021-22 season.

While the Olympics may not be enough to push Peacock to the top, the games can pique consumers’ interest and give them a chance to see everything that the streaming service has to offer.

Best of Day 4 at the Tokyo Olympics | NBC Sports