Spectrum’s parent company, Charter Communications, reported a significant loss of internet customers in its first quarter earnings for 2024. The company noted a decline of 72,000 residential and small to medium business internet subscribers. This decrease followed after the company raised prices and altered channel programming, leading to customer dissatisfaction.
By the end of March 2024, Charter’s total residential customer base had dropped to just under 29.8 million, down from nearly 30 million the previous year. Despite these losses, Charter managed a slight revenue increase of 0.2% year-over-year, reaching $13.7 billion. This was partly due to promotional rate step-ups and adjustments.
The decline in customer numbers coincides with ongoing concerns about Spectrum’s business practices, including a contentious dispute with Disney last September, which temporarily blocked access to popular sports content. These issues, combined with the recent price adjustments in January, have fueled customer unrest.
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