*If you’re still committed to cable get ready for another increase to your monthly bill.
According to reports, AT&T Inc.’s DirecTV, Dish Network Corp. and Comcast Corp. plan to raise rates again in the new year to counter consumers who have “cut the cord” in favor of streaming sites.
But for those who remain loyal to their packages with hundreds of channels, Cable and satellite providers are hoping to squeeze more money from you, even though “this strategy could accelerate video sub declines,” said Philip Cusick, a JPMorgan Chase & Co. analyst.
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Here’s a breakdown via bloomberg.com about the rising rates:
Rising Fees
Comcast, the largest U.S. cable company, is raising its fee for regional sports networks by $1.50 on average and its fee for broadcast channels by $2 a month, according to Cusick. Charter Communications Inc., the second-largest U.S. cable provider, recently boosted its monthly fee for a set-top box by about 50 cents and its broadcast channel fee by about $1.
DirecTV is raising rates on all English-language video packages by $3 to $8 a month while hiking fees for regional sports networks by $1 to $1.90 in most markets. Dish said it’s increasing prices for English-language video packages by $3 to $5 a month. Altice USA, the fourth-largest cable operator, recently raised rates by 3 percent on Optimum subscribers.
A Comcast spokeswoman said the changes were necessary because of rising broadcast television and sports programming costs, “which are the largest drivers of price increases,” while an AT&T spokesman noted some DirecTV plans won’t increase.
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