Today we learned that Charter Communications, the parent company of Spectrum, has once again lost 408,000 TV customers in the 2nd quarter of 2024. This is on top of the Spectrum lost Over 405,000 TV Customers lost in the 1st quarter of 2024.
Spectrum did also lose for the third quarter in a row it lost 149,000 internet customers during that time for both residential and business customers. This is on top of the 72,000 internet customers Spectrum lost in the 1st quarter. Spectrum also lost 208,000 voice customers as Americans continue to move away from traditional landline phones.
Spectrum lost over 4,483 TV customers every day in the 2nd quarter of 2024. Spectrum did add 557,000 wireless mobile lines.
Spectrum’s parent company, Charter Communications, saw revenue grow 0.2% year-over-year to $1.2 billion.
“We are executing well on several transformational initiatives, growing EBITDA through efficiencies, and improving our service and sales capabilities,” said Chris Winfrey, President and CEO of Charter. “We remain fully focused on driving customer growth, with a unique, high quality product set that
continues to evolve, creating long term value for shareholders.
Overall, Spectrum, like Comcast and others, is facing the fact that cord cutting is continuing to speed up with no signs that it will slow down.
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