Comcast joined other companies in raising their prices for their services after increasing its price by 3% for pay television and internet access.
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Comcast Links Increase to Programming Costs, Investments
According to the company, the increase will reflect on the customer's January bill. The internet-only service will increase by $3 a month while the pay TV prices will vary depending on the local broadcast and regional sports fees. The bundle subscribers will also experience an increase of about $2 to $4 a month.
The company assured that they are working hard to manage the increasing fees. "Rising programming costs continue to drive the highest increase in customers' bills," as per Comcast spokesman in an emailed statement to Bloomberg.
Moreover, the company revealed its plans to invest in a broadband network that will hopefully provide its customers a more low-cost options. The company is also working on creating packages that will fit varying lifestyles and budgets.
Comcast Customers Preps for Increased Fees for 2024
Comcast currently provides pay TV, internet access, and home protect services. Customers who are subscribed to all these services could see an increase of as much as $20 a month, depending on their bundle subscription. Currently, the monthly average bill of a Comcast customer is around $129.
The price hikes will go into effect starting December 18, 2023, and will be seen on the January 2024 bill. Meanwhile, customers who are currently subscribed to a promotional rate will not be affected by the increase until the offer ends.
Comcast is now among the broadcast companies that increased their service price amid a dwindling number of subscribers. According to Bloomberg, the company has already lost 18,000 broadband subscribers during the period, with the majority of it coming from residential customers.
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