Spectrum’s parent company reports a 3.2% year-over-year decline in internet revenue after raising prices and facing aggressive rival promotions.
Charter Communications lost 172,000 internet customers in the second quarter, reflecting intensified competition in the broadband market. The company’s internet revenue fell 3.2% year over year, following a $10 price increase on several plans in July.
Heightened competition from AT&T, Verizon, and T-Mobile has pressured Spectrum, with rivals offering lower prices and bundled deals. Charter’s CFO cited expanded fixed-wireless competition, mobile substitution, and fiber overlap as key challenges.
To counter losses, Spectrum is offering free Amazon Prime, valued at $14.99 per month, to eligible internet customers. The move aims to retain subscribers amid declining revenue and customer churn.