We know many of you have been using your Peacock subscription these past few weeks with Love Island season 7 airing, but now it's time to get ready for another surprise: Peacock's hiking its prices. The streaming service announced on Thursday that the cost of its monthly and annual plans will increase beginning July 23 for new and returning customers.

The streaming service's two existing tiers will cost an additional $3 per month, and Peacock will also start testing a cheaper $7.99 "Select" tier that includes access to NBC and Bravo shows and a limited number of titles from the NBCUniversal back catalog.

Viewers who ditched pricey cable bundles in favor of cheaper streaming services have found their total monthly subscriptions are adding up.