Charter’s Spectrum cable TV service has been losing subscribers for years now. To help offset this, Spectrum will soon start closing Spectrum stores to help cut costs.
According to multiple Charter employees, Spectrum will soon start closing some underperforming stores. The first wave will likely be 9 Spectrum stores in the Northeast, with more to come in all areas where Spectrum offers its service. Other stores will continue to close throughout 2024. The exact number of stores that will close are unknown.
Not all Spectrum stores will close but Spectrum plans to cut back on the number of stores it has to cut costs. Now, customers in these areas will need to use online or phone support for help or to purchase new Spectrum services and products.
Spectrum recently also announced price hikes on its TV and internet customers. This price hike includes the broadcast TV surcharge, which just went up by $1 in July, will now increase from $23.20 to $25.75 a month. The charge for Advanced WiFi will increase by $2 to $7 a month. Its Entertainment View and Latino View packages will each increase by $3 to $15 a month. Spectrum TV Essentials, its live streaming service that can be used with Roku and other devices, will increase by $5 to $29.99 a month.
This all comes as Spectrum just announced a second round of price increases on its customers in the last 12 months. This increase comes after 2023 saw a wave of price hikes across the board, with streaming services and cable TV companies alike charging more amid inflation. In July, Spectrum raised the price of its TV, internet and phone services, with phone and internet going up by $5 a month each. At the time, it also blamed programming costs for the increase.
Spectrum was not available for comment before our story went live.