Spectrum to Raise TV, Internet, and Phone Plan Prices in July Amidst Industry-Wide Price Hikes

by Nicholas Edwards · 02/07/2024

Spectrum announces price increases for TV, internet, and phone plans starting in July. This move follows recent price hikes by other major providers like Paramount+ and Warner Bros. Discovery.

United States, Bollywood Fever: American cable giant Spectrum is set to raise its TV, internet, and phone plan prices starting in July. According to CNET, Spectrum’s internet base price will increase by $3 a month for all plans. Additionally, the provider’s home phone plans and TV Select service will see a $3 increase in some states.

This marks the second rate hike by Spectrum this year. In January, the company raised its low-income plan from $20 to $25 a month and increased the cost of renting a router from $5 to $7 per month. Existing customers looking to negotiate these price rises may face difficulties due to recent call center closures, which have resulted in the loss of 745 employees over the past two months.

The decision to increase prices comes after a recent earnings report revealed Spectrum lost 72,000 internet customers and 405,000 cable TV customers in the first three months of 2024. Despite these setbacks, Spectrum emphasized its commitment to providing quality services. “We continue to expand and improve our offerings to ensure all customers have products and packages that best meet their needs,” Spectrum stated. “While our services have been impacted by rising costs, we strive to keep prices as low as possible.”

Spectrum to Raise TV, Internet, and Phone Plan Prices in July Amidst Industry-Wide Price Hikes

The price increases are part of a broader trend in the industry as internet and streaming providers raise their prices. Paramount recently announced a price hike for its streaming service to boost falling profits. The Paramount+ Essential option will rise by $2 to $7.99 for new customers, representing a significant 33 percent increase. The bundle with Showtime will also increase by $1 to $12.99 for both new and existing customers, effective August 20.

Warner Bros. Discovery has also raised prices for its ad-free Max subscription for the second time, increasing the monthly cost by $1 to $16.99. The ‘ultimate’ ad-free option, which offers 4k streaming and the ability to run four accounts simultaneously, will also see a $1 increase to $20.99. The annual ad-free plan will rise by $20 to $169.99, with the ultimate version increasing to $209.99 a year.

In a similar move, Spotify announced last month that the cost of its ‘Individual’ ad-free premium subscription plan in the US will go up by $1 a month to $11.99.