Comcast, the largest U.S. cable and internet provider, is once again raising prices on its TV and internet services, a year after the Philadelphia-based company last hiked rates, reports The Philly Inquirer.
Starting Dec. 20, customers nationwide will see their rates increase by 3.8%, on average, company spokesperson Jennifer Bilotta said. In December 2021, the average rate increase was 3%.
“TV networks and other video programmers continue to raise their prices, with broadcast television and sports being the biggest drivers of increases in customers’ bills,” Bilotta said Monday in a statement.
The monthly cost of a modem rental, as well as broadcast and regional sports fees, has nearly doubled since 2018, according to an Inquirer analysis. A note on some recent Xfinity bills said that the latest rise in prices is “in response to increases in expenses impacting our services,” which includes retransmission costs imposed by TV networks.
Bilotta noted that Comcast’s “national average increase of 3.8% is about half of the most recent rate of inflation.”
Comcast reported better third-quarter earnings than analysts had anticipated, despite a slight revenue decline, the loss of 561,000 cable customers, and continued competition from streaming services, which have also increased prices in recent years. In the second quarter, Comcast didn’t add any broadband customers for the first time ever.
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