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Highlights
- Spectrum has increased prices for multiple services, impacting internet and TV customers.
- Significant customer dissatisfaction has led to a loss of 72,000 subscribers in early 2024.
- Spectrum's low-income internet program saw a steep price hike of 25%.
Spectrum is bleeding customers, and the numbers are stark.
Owned by Charter Communications, Spectrum has experienced a significant loss of subscribers following its recent pricing adjustments.
In Q1 of 2024 alone, the company lost 72,000 residential and small business internet subscribers, dropping its total residential customer base to just under 29.8 million.
Read more: Spectrum's second price hike in 6 months
Several factors contribute to these price hikes:
- Broadcast TV Surcharge: Increased from $23.20 to $25.75 per month.
- HD Box Rental: From $10.99 to $12.50 monthly.
- Advanced WiFi: Saw a $2 increase, bringing the monthly cost to $7.
- Spectrum Internet Assist: The low-income internet program jumped 25% from $19.99 to $24.99 per month.
These increases come amid broader industry trends of rising costs due to higher programming fees.
Despite these hikes, Charter Communications reported a slight revenue increase, reaching $13.7 billion, which they attributed to promotional rate adjustments and other fee increases.
Customer backlash
It's no surprise that the reaction from Spectrum's customer base has been overwhelmingly negative.
Many subscribers, especially those on fixed incomes, are feeling the strain of these additional costs.
The dissatisfaction seems to be not just about the increased prices but also the perceived lack of value.
With alternative streaming and wireless home internet options available, more households are moving away from traditional cable services.
My take: About damn time...who's next?
As Twisted Sister famously said, "We're not gonna take it anymore!"
Now that other options are starting to become available, cable and internet companies like Spectrum no longer have the market cornered.
This freedom means that customers are finding their voices and empowering themselves to take action.
Other big corporations, like Big Wireless, should see the writing on the wall. I predict that this industry will be the next to fall prey to customer backlash.
If you're feeling the pinch from these hikes, now might be an excellent time to evaluate your options.
Read more: Cheapest data only plans
Look into competing services and explore available promotions to find a better deal.
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