We investigate the physics of an open two-component Dicke model, where the light field mediates nonreciprocal interactions between two spin species. We show that the model, which we dub nonreciprocal Dicke model, exhibits a discrete parity-time (PT) symmetry and we characterize the emergence of a nonstationary phase, so far explained in terms of dissipation-induced instability, as spontaneous breaking of PT symmetry. We further show that such PT symmetry breaking embodies an instance of a nonreciprocal phase transition, a concept recently introduced by Fruchart et al. [Nature (London) 592, 363 (2021)NATUAS0028-083610.1038/s41586-021-03375-9]. Remarkably, the phase transition in our model does not necessitate the presence of any underlying broken symmetry or exceptional points in the spectrum, both believed to be essential requirements for nonreciprocal phase transitions. Our results establish driven-dissipative light-matter systems as a new avenue for exploring nonreciprocal phase transitions and contribute to the theory of nonreciprocal collective phenomena.