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Post by Atticus Pizzaballa on May 19, 2024 11:10:59 GMT -5
Spectrum customers show company the consequences of hiked prices Patricia Battle Sat, Apr 27, 20243 min read Spectrum customers are starting to hit the cancel button. Charter Communications (CHTR) , the parent company of Spectrum, has just revealed that it has lost 72,000 internet customers and 405,000 cable TV customers during the first quarter of 2024. “Our internet customer growth remained challenged by a low move and generally low activity environment, coupled with continued elevated competition at least in the short term and a small impact from fewer low-income connects due to discontinued ACP availability,” said Charter CEO Chris Winfrey during a recent earnings call. The Affordable Connectivity Program (ACP) was a government program that Spectrum offered, which provided eligible households a discount of up to $30 a month for internet. It was discontinued in February this year. Losing cable TV customers In its first-quarter earnings report, released on April 26, Charter reported that it has a total of 29.8 million residential customers, which is a 0.7% decrease from the 30 million it had during the same quarter last year. The company claimed during the earnings call that this was mainly driven by the loss in cable TV customers. It is no surprise that Charter is experiencing a dip in cable TV subscribers, a phenomenon called "cord-cutting." Cable companies have seen many customers canceling their cable TV services in favor of subscribing to streaming services such as HBO, Hulu, Disney+, etc., which offer lower prices compared to cable. Charter’s residential revenue also took a small hit this year. During the first quarter, it brought in $10.8 billion in residential revenue, down 0.4% from a year ago. Despite the loss in customers, the company’s internet revenue grew by 1.9% year-over-year in the quarter to $5.8 billion. The company attributed the gain to "promotional rate step-ups and rate adjustments.” Spectrum quietly hiked its prices for a few of its services in January, according to Cord Cutters News. The company increased the price for its low-income internet program Spectrum Internet Assist by 25%. Its broadcast TV surcharge also rose from $23.20 to $25.75 a month. Its fee for Advanced Wi-Fi increased by $2 to $7 a month. Also, its live streaming service, Spectrum TV Essentials, increased by $5. These changes come after it hiked its phone and internet prices by $5 a month in July last year. “We have taken a stand for a new, customer-focused model that provides more value and choice for video entertainment when negotiating all of our programming agreements,” said a Charter spokesman in a statement to Cord Cutter News in January. “Despite these ongoing efforts, programmers continually raise fees for their content, which are passed through as increased fees to viewers and drive higher costs across the entire industry.” Wall Street boos the results Investors were unimpressed by Charter's report. The shares fell 4.5% on April 26 to $254.61. The shares are down 34.4% this year. Overall, Charter reported earnings of $1.1 billion, or $7.55 a shares, up from a year ago but below the analyst estimate of $7.86. Revenue of $13.7 billion was flat from a year; the estimate had been $13.75 billion. Related: Veteran fund manager picks favorite stocks for 2024 finance.yahoo.com/news/spectrum-customers-show-company-consequences-010000548.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAL33zjrD8ajMQThzA740b2AfxqunUJdgEDeTamwbJJRkqtmW6BiyQAKI4kt743foRYrHLzSAeCjW1zbuBReTwOm5Y5Y6-KZy9mKf7Dz-9bHtqJbj6iqqQsi7-6AsMFleuJ6doF7fs4c2c195MLapaRyc39DgGgEVPLVGpS_2u8T2I understand that GoNet Speed is coming to Utica in July and it is fiber optics and much much cheaper than Spectrum. I read about that here: nextdoor.com/p/Qq4Hr7bLKYFm/c/1151943428?post=336317839&comment=1151943428&s=&is=nce&ct=kcl7g8X2GIuBLbK46Xye3N0XGI7NJ54Au5BB42mhfw9U_0ffzD2x8Acgwhs2cX9L&ec=CUuITXfgC4y3JTZ2xRbYqsCEDVfj1pLaDEEEO8rW-uw%3D&mobile_deeplink_data=eyJhY3Rpb24iOiAidmlld19wb3N0IiwgInBvc3QiOiAzMzYzMTc4Mzl9&link_source_user_id=86760075 |
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Post by Clipper on May 19, 2024 12:49:19 GMT -5
We will be cutting the cord on Spectrum's cable tv soon. I just need to put together a package of what I want to stream in order to get the movies and programs we like to watch. The twenty dollar indoor antenna I bought gives us the local stations and major networks. I want to get Disney and either netflix or hulu but before I do I want to make sure that it is the best option available for streaming movies and programming.
Spectrum here is fairly unreliable in that they lose the signal on some of their stations and the picture pixelates and freezes. Sometimes for a few seconds and sometimes for an extended period that forces us to go to a different channel.
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Post by Atticus Pizzaballa on May 19, 2024 13:21:18 GMT -5
We will be cutting the cord on Spectrum's cable tv soon. I just need to put together a package of what I want to stream in order to get the movies and programs we like to watch. The twenty dollar indoor antenna I bought gives us the local stations and major networks. I want to get Disney and either netflix or hulu but before I do I want to make sure that it is the best option available for streaming movies and programming. Spectrum here is fairly unreliable in that they lose the signal on some of their stations and the picture pixelates and freezes. Sometimes for a few seconds and sometimes for an extended period that forces us to go to a different channel. We have the same problem up here with the pixilation's and for me it always happens whenever I am watching any PBS station. Whether it is CREATE TV, WCNY and even Spectrum new channel. It happens daily from 3PM to5PM sometimes earlier and sometings later. Very annoying. I have to go to Spectrum webpage and chat with there bot and then then reset the receiver which takes 2 to 5 minutes. I have an antenna which i got years ago but it only bring in a few channels and no WKTV or CREATE TV. Now my internet price went up because of the end of the ACP program. It would have gone up $30.00 but Spectrum only charged me $15 extra and wants me to get free 5G cell phone service free for one year. The only time I use my phone is when I have to call the Doctor to renew my medications and message my sister. |
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Post by Atticus Pizzaballa on May 19, 2024 13:21:50 GMT -5
LOL it is pixelating now
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Post by Clipper on May 19, 2024 14:03:33 GMT -5
We will be cutting the cord on Spectrum's cable tv soon. I just need to put together a package of what I want to stream in order to get the movies and programs we like to watch. The twenty dollar indoor antenna I bought gives us the local stations and major networks. I want to get Disney and either netflix or hulu but before I do I want to make sure that it is the best option available for streaming movies and programming. Spectrum here is fairly unreliable in that they lose the signal on some of their stations and the picture pixelates and freezes. Sometimes for a few seconds and sometimes for an extended period that forces us to go to a different channel. We have the same problem up here with the pixilation's and for me it always happens whenever I am watching any PBS station. Whether it is CREATE TV, WCNY and even Spectrum new channel. It happens daily from 3PM to5PM sometimes earlier and sometings later. Very annoying. I have to go to Spectrum webpage and chat with there bot and then then reset the receiver which takes 2 to 5 minutes. I have an antenna which i got years ago but it only bring in a few channels and no WKTV or CREATE TV. Now my internet price went up because of the end of the ACP program. It would have gone up $30.00 but Spectrum only charged me $15 extra and wants me to get free 5G cell phone service free for one year. The only time I use my phone is when I have to call the Doctor to renew my medications and message my sister. It really angers Kathy. It often happens during Wheel or Jeopardy just when they are about to solve the final puzzle. She loves to watch Price is Right and during the most interesting part they always interrupt programing with the test of the emergency broadcast system with it's annoying high pitched tone. |
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Post by BHU on May 19, 2024 16:24:51 GMT -5
We will be cutting the cord on Spectrum's cable tv soon. I just need to put together a package of what I want to stream in order to get the movies and programs we like to watch. The twenty dollar indoor antenna I bought gives us the local stations and major networks. I want to get Disney and either netflix or hulu but before I do I want to make sure that it is the best option available for streaming movies and programming. Spectrum here is fairly unreliable in that they lose the signal on some of their stations and the picture pixelates and freezes. Sometimes for a few seconds and sometimes for an extended period that forces us to go to a different channel. We have the same problem up here with the pixilation's and for me it always happens whenever I am watching any PBS station. Whether it is CREATE TV, WCNY and even Spectrum new channel. It happens daily from 3PM to5PM sometimes earlier and sometings later. Very annoying. I have to go to Spectrum webpage and chat with there bot and then then reset the receiver which takes 2 to 5 minutes. I have an antenna which i got years ago but it only bring in a few channels and no WKTV or CREATE TV. Now my internet price went up because of the end of the ACP program. It would have gone up $30.00 but Spectrum only charged me $15 extra and wants me to get free 5G cell phone service free for one year. The only time I use my phone is when I have to call the Doctor to renew my medications and message my sister. We have HULU which includes Roku. Hulu is getting quite expensive, it's now about $80/month, but no way will we ever go back to Spectrum cable. |
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Post by BHU on May 19, 2024 17:09:29 GMT -5
We will be cutting the cord on Spectrum's cable tv soon. I just need to put together a package of what I want to stream in order to get the movies and programs we like to watch. The twenty dollar indoor antenna I bought gives us the local stations and major networks. I want to get Disney and either netflix or hulu but before I do I want to make sure that it is the best option available for streaming movies and programming. Spectrum here is fairly unreliable in that they lose the signal on some of their stations and the picture pixelates and freezes. Sometimes for a few seconds and sometimes for an extended period that forces us to go to a different channel. We have the same problem up here with the pixilation's and for me it always happens whenever I am watching any PBS station. Whether it is CREATE TV, WCNY and even Spectrum new channel. It happens daily from 3PM to5PM sometimes earlier and sometings later. Very annoying. I have to go to Spectrum webpage and chat with there bot and then then reset the receiver which takes 2 to 5 minutes. I have an antenna which i got years ago but it only bring in a few channels and no WKTV or CREATE TV. Now my internet price went up because of the end of the ACP program. It would have gone up $30.00 but Spectrum only charged me $15 extra and wants me to get free 5G cell phone service free for one year. The only time I use my phone is when I have to call the Doctor to renew my medications and message my sister. I'm sure that they'll reinstitute the ACP, just as a handout/subsidy to outfits like Spectrum. All they have to do is send a few lobbyists to Washington, line a few pockets & voila! The program will be funded. |
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Post by Atticus Pizzaballa on May 20, 2024 8:14:13 GMT -5
Got a call from GoNetSpeed a few minutes ago and yes they are building in my entire area so that is a good thing. She will call back when they are approaching completion which may come earlies that July. I switch for sure.
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Post by Clipper on May 20, 2024 8:34:20 GMT -5
Got a call from GoNetSpeed a few minutes ago and yes they are building in my entire area so that is a good thing. She will call back when they are approaching completion which may come earlies that July. I switch for sure. I would wait until there has been time for customer feedback before jumping on it. A couple we bowled with jumped on a bargain internet service and it was not what it was advertised to be. It was slow to the point of not being able to use some applications or access websites in reasonable time. They said the would click on a website and then wait forever for it to load. they kept it for about a week and cancelled and went back to Comcast. (Comcast is the provider in their area.) |
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Post by Atticus Pizzaballa on May 20, 2024 15:51:59 GMT -5
ok thanks....
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Post by clarencebunsen on May 21, 2024 9:34:28 GMT -5
Gave up on Spectrum with the price hike a couple years ago. Have not regretted it.
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Post by Clipper on May 21, 2024 9:40:04 GMT -5
We are seriously considering dropping spectrum. Have to give it a bit of thought. We are operating with 3 remotes as it is. One for the tv, one for spectrum, and one for the home theater system. Kathy has trouble juggling the remotes. The LG tv remote is where we select the input between antenna, LG tv, set top box. Does anyone have satellite tv? If so are you happy with it and is it as expensive as cable?
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Post by clarencebunsen on May 21, 2024 9:50:46 GMT -5
We also tried satellite TV and gave up on it. The problem there was a neighbor's tree, it interfered with the signal when spring came. Usually the TV is controlled by Barb's phone. There is a remote I can usually find if she is not around.
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Post by kit on May 21, 2024 10:39:35 GMT -5
I don't have Spectrum... for two reasons.
1. So many people who have it aren't satisfied with it, especially for what they have to pay for it. They'd just as soon dump it if they could. I have an antenna that sits next to my window. That's good enough for me,
2. At my age I don't know how long I have left, so I'd rather live the rest of my life being physically active with my kids and other people doing things rather than spending the rest of my life with my ass planted on a couch watching TV. Years ago I had Harron Cable and finally dumped it and haven't had Cable since. It was the best move I ever made.
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Post by Clipper on May 21, 2024 11:01:23 GMT -5
Kathy watches Let's Make a Deal and Price is Right in the mornings and if I am in the house due to weather or nothing to do in my shop. I like to watch NCIS or Rizzoli and Isles. Otherwise I don't watch tv until 5 o'clock when the news comes on and it stays on that channel through Wheel of Fortune and Jeopardy. After that is is time to browse for a good movie using the antenna any day but Wednesday when we watch Chicago Med and Chicago Fire, and Friday when we watch Antiques Roadshow from 8 to 10.
I am not big on TV unless I have nothing else to do.
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