Today Spectrum’s parent company Charter Communications announced its 2nd quarter 2023 earnings. In that call, Spectrum has once again lost 200,000 TV customers in the 2nd quarter of 2023. Spectrum also reported that they lost over 221,000 voice customers as many Americans turned away from traditional phone lines and TV services. Spectrum did add 77,000 internet customers during that time for both residential and business customers. Spectrum also added 648,000 mobile lines.
“We are growing our business by providing differentiated and valuable products, and high-quality service to our customers,” said Chris Winfrey, President and CEO of Charter. “We are also executing well on our evolution and expansion initiatives, and these strategic investments will lead to further customer and financial growth, creating long-term value for Charter shareholders.”
Now it seems Spectrum has plans to help expand its internet service by offering 25+ Gig internet just at a time when most internet companies are talking about reaching 10 Gig internet. This all comes from Spectrum’s earnings presentation that shows Spectrum will start building out its 25+ Gig internet service in 2024.
There is already one 25 Gig internet service currently live in Chattanooga, Tennessee, from EPB, but it will cost you a lot. EPB service will cost you $1,500 a month, according to the listing when it launched in August 2022.
25 Gig is likely something you don’t need right now as a homeowner, but this internet speed could be a game changer in the commercial internet business. This would give customers the ability to support a large number of users at once.
Spectrum says they plan to start building the network next year but no word on when it will be available to customers for order or what price Spectrum will charge.
Comcast is currently charging $300 a month for its 10 Gig service in areas that offer it as its Gigabit Pro option.
With growing competition, it seems Spectrum and Comcast are counting on crazy fast speeds to help them stand out.