As more and more cable customers drop their TV packages, and switch to internet-only services, Spectrum is raising rates again.
And this will impact not just cable TV, but internet and phone customers as well, according to several published reports this week.
The tech site CNET and the Daily Mail report that Spectrum will be raising rates $3 to $4 a month for most customers, starting with their late July bills.
CNET says this is the second price hike this year, after an increase in its low income plan from $20 to $30 a month, and a $2 increase in router rental fees back in January.
Price hikes leading 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 has lost 405,000 cable TV customers nationwide just for the 1st quarter of 2024, and lost 279,000 phone customers, as consumers switch to their cell providers for phone servicce.
Why another round of price hikes?
The company earlier this year told Cord Cutter News that increased TV programming costs are to blame, saying "programmers continually raise fees for their content, which are passed through as increased fees to viewers and drive higher costs across the entire industry.”
But those price hikes are leading to more cord cutting.
WCPO has reached out to Spectrum and its parent company, Charter, for further comment on these latest rate hikes, and will update this report when we receive a comment from the company.
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