Spectrum Lost Over 320,000 TV Customers in The 3rd Quarter of 2023 as Cord Cutting Continues to Grow





Remote control

Today we learned that Charter Communications, the parent company of Spectrum, has once again lost 320,000 TV customers in the 3rd quarter of 2023. Spectrum also reported that they lost over 288,000 voice customers as many Americans turned away from traditional phone lines and TV services. Spectrum did add 63,000 internet customers during that time for both residential and business customers.

“We continue to make significant progress against the multi-year strategic initiatives we outlined last year,” said Chris Winfrey, President and CEO of Charter. “These initiatives drive continuing improvements in the quality of our products, and when combined with our customer-friendly pricing and packaging and high-quality service, will drive significant, long-term growth in shareholder value.”

To help offset slow internet growth and declining TV subscribers, Spectrum did add 594,000 wireless customers in the 3rd quarter of 2023.

Spectrum did see revenues up .02% to $13.584 billion. Internet revenue grew by 3.7% year-over-year.

Spectrum says video revenue is down about 8.6% to $4.004 billion. Spectrum says this drop in video revenue was driven by driven by a higher mix of lower priced video packages within Charter’s video customer base, a decline in video customers during the last year and the aforementioned $63 million of residential customer credits recorded in September 2023, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases. Spectrum also gave out $68 million of total customer credits related to the temporary loss of Disney programming in September 2023.

Overall, Spectrum, like Comcast and others, is facing the fact that cord cutting is continuing to grow up with no signs that it will slow down.

Have you recently cut the cord? Let us know why and when you did it.

Disclaimer: To address the growing use of ad blockers we now use affiliate links to sites like http://Amazon.com, streaming services, and others. Affiliate links help sites like Cord Cutters News, stay open. Affiliate links cost you nothing but help me support my family. We do not allow paid reviews on this site. As an Amazon Associate I earn from qualifying purchases.

Subscribe to Our Newsletter

* indicates required

Please select all the ways you would like to hear from :

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp’s privacy practices here.