On January 14, 2019, NBCUniversal announced plans to launch an over-the-top streaming service in 2020, which would feature original and library content, and be available in free advertising-supported and paid ad-free versions.

The service announced further details on its initial slate of original programming, including sci-fi series Brave New World (moved from USA Network's slate), limited series Angelyne, crime drama Dr. Death, comedy Rutherford Falls, teen drama One of Us Is Lying, talk show The Amber Ruffin Show, and reboots and continuations of Battlestar Galactica, Punky Brewster, and Saved by the Bell.

It was also announced that library rights to the NBC sitcoms The Office and Parks and Recreation would move exclusively to Peacock in October 2020 and January 2021, respectively.

[13] As of December 2022, the service had reached 20 million paid subscribers, with its coverage of the 2022 FIFA World Cup in Spanish having been credited for an increase in the fourth quarter of 2022.

[15][16] In April 2024, WrestleMania XL became Peacock's most-streamed entertainment event, with the service reporting its second-highest usage behind the exclusive NFL broadcast.

[22] The company's September 18 agreement for the service narrowly averted a blackout of NBCUniversal's TV Everywhere apps on Roku devices due to a dispute over revenue sharing and advertising inventory assignment.

[30][21][31] Current episodes of NBC series are available on Peacock the day after their premiere for Premium subscribers; non-subscribers will receive them on a week's delay.

[21] Peacock also offers a lineup of about 25 curated digital linear channels, including long-form and digital-originated programming content from NBCUniversal's broadcast and cable properties (such as Today All Day, a digital extension of NBC's morning show Today),[32] as well as third-party content providers.

They are designed to emulate a traditional broadcast programming experience (similar to services such as Pluto TV and Xumo, the latter of which was purchased by NBCUniversal parent Comcast in February 2020).

[33] On January 26, 2020, NBC announced plans to stream The Tonight Show Starring Jimmy Fallon and Late Night with Seth Meyers at 8 and 9 p.m.

[38] In May 2022, Universal Pictures announced that it would shift three of its films to Peacock in 2023: Shooting Stars, a biographical feature about LeBron James based on his memoir; Praise This, about a youth choir music competition; and a remake of John Woo's 1989 crime drama The Killer.

[54] Peacock also had rights to the Harry Potter film series as part of an existing deal with NBCUniversal networks from October 2020 until August 2021, before WarnerMedia (now Warner Bros.

[55][56] On July 1, 2020, ViacomCBS (now Paramount Global) non-exclusively licensed some of its television series and films to Peacock, such as Everybody Hates Chris, Ray Donovan, and Undercover Boss.

[57] In January 2021, Peacock added Claudia Rosencrantz and Adrian Woolfe's streaming entertainment news channel LIT, with the platform serving as its U.S. launch partner for an exclusivity period.

[58] On May 18, 2021, NBCUniversal announced that it had acquired the U.S. streaming rights to the Eurovision Song Contest for Peacock under a two-year deal, beginning with the 2021 edition (whose first semifinal was held later that day).

The agreement includes both on-demand content from Hallmark's library of original series and made-for-TV movies, and the live, linear feeds of all three networks.

[63][64] A similar agreement with Reelz (including true crime programming such as On Patrol: Live) was announced on February 28, 2023.

[136] In January 2021, Peacock premiered The Overview, a weekly series hosted by Gadi Schwartz that features conversations on news topics and "paradigm shifts" impacting the world.

[137] In January 2022, Peacock launched 24/7 streaming local news channels from the NBC Owned Television Stations division.

[140] In October 2021, Quebecor Content acquired exclusive French Canadian rights to Peacock Original programming for its streaming service, Club Illico.

[142] In August 2020, NBCUniversal signed a distribution deal with Australian streaming service Stan, including Peacock's original programming until 2022.

On January 25, 2022, Peacock further expanded in Sky territories, soft launching in Austria and Germany, followed by Italy on February 15[145] and Switzerland on March 2.

[147] The service would be available in 20 smaller European territories, including four Nordic countries along with Hungary and Poland, where it will replace Paramount Global's Paramount+ (Nordic countries) or its eponymous SVOD service (Hungary and Poland, where it was known as Paramount Play), instead of Peacock and Paramount+ operating separately in those markets.

[157] In December 2023, Comcast CEO Mike Cavanagh announced that there were no plans to launch Peacock as a standalone streaming service outside of the United States and that instead, its content would continue to be distributed through its partnerships and joint ventures, like SkyShowtime, in international markets.