Spectrum raises TV, phone and internet prices… again

As more and more cable customers ditch their TV packages and switch to internet-only services, Spectrum is raising rates again.

And this will affect not only cable TV customers, but also Internet and telephone customers, according to several reports published this week.

Technology site CNET and the Daily Mail report that Spectrum will increase rates $3-$4 a month for most customersstarting with your late July bills.

CNET says this is the second price increase this year, following an increase in its low-income plan from $20 to $30 per month, and a $2 increase in router rental fees in January.

Price increases lead to more customer losses

The provider has been losing customers for a decade, and the latest news could accelerate the cord-cutting that has been hurting it and other cable companies.

Spectrum reported in its latest earnings report that it lost 405,000 cable TV customers nationwide during the first quarter of 2024 alone, and lost 279,000 telephone customers as consumers switch to their cellular providers for phone service.

Why another round of price increases?

The company told Cord Cutter News earlier this year that rising TV programming costs are to blame, saying “programmers continually raise fees for their content, which are passed on as higher fees to viewers and drive higher costs across the industry.”

But those price increases are causing more people to ditch cable service.

WCPO has reached out to Spectrum and its parent company, Charter, for further comment on these latest rate increases and will update this report when we receive comment from the company.
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