As has become an annual end-of-year custom in the telecom industry, Comcast has confirmed across-the-board price increases on its Xfinity-branded broadband, TV and phone services.
Rate increases vary, as always, by region. But Bloomberg is reporting a broad 3% spike for both internet and video products.
The majority of customers who subscribe to only internet will see a $3 increase, while customers in some markets will see a $4 increase, a Comcast rep told Next TV.
Comcast blames the latest price bump on the $20 billion "10G" investment its made in its broadband network over the past five years, as well as rising programming costs for TV services.
“Rising programming costs continue to drive the highest increase in customers’ bills. We’re working hard to manage these costs for our customers while investing in our broadband network to provide the best, most reliable Internet service in the country and to give our customers more low-cost choices in video and connectivity so they can find a package that fits their lifestyle and budget," Comcast told us.
Comcast has set up an FAQ to explain the price bumps, which it said will take effect in January.
Included in the increases will be enhanced “broadcast TV” and “regional sports networks” sub fees — upped at a time when both ecosystems are eroding and providing pay TV subscribers with less quality programming.
Comcast lost 32,000 high-speed internet users through the first nine months of this year, and it's expected to be losing more in the ongoing fourth quarter.
But Comcast shares are up over 13% year-to-date, and that has a lot to do with the fact that average revenue per user keeps rising, as the MoffettNathanson graphic below reveals.
