Cable companies increase prices and cord cutting has never looked better
Luke Bouma • February 15, 2020if( has_post_thumbnail( $post_id ) ): ?>
Cable companies are increasing prices again
Still have cable TV? Thinking about cutting the cord? Right now may be a great time to cancel your cable service as their prices are once again going up.
Back in October 2018, it was reported that if you still have Spectrum’s cable TV service, you should get ready to pay more. Depending on what market you are in and what package you have, you will see an increase in your broadcast TV price from $8.85 to $9.95 and your receiver cost will grow from $6.99 to $7.50. Digital adapters will also rise from $4.99 to $5.99 each and, if you have the Latino View add-on, it will be going up from $7.99 to $8.99 a month.
You may also see a $5 price hike on your Internet service. It will be interesting to see if they continue to charge this price as $50 5G Internet continues to roll out in the United States.
When you add it up, some customers will be paying an additional $91.32 every year. This is almost as much as a year of Hulu’s limited-commercial plan. It is also more than the Disney service launching next year, which is rumored to be offered at about $5 a month.
Still not convinced? A recent survey of 3,3385 consumers by the research firm cg42 concluded that the average cord cutter saves $85 a month. According to that survey, the average cable customer paid approximately $203 on average for TV and Internet, whereas the average cord cutter paid $118 on average for Internet and TV.
Worried about having to subscribe to streaming services? The cg42 survey also found once again that most cable TV subscribers already subscribe to at least one streaming service like Netflix or Hulu. With the best TV now no longer on cable TV, it is no surprise that cable subscribers would also pay to access shows like The Handmaid’s Tale or Stranger Things. So, it is very likely you are already paying for several services that can help you break free from cable TV.
Still need one last push? My family has saved over $9,000 since we cut the cord six years ago. At the time we paid over $112 a month just for cable TV (we had DSL Internet that was separate from DIRECTV, which also raised prices earlier this year). We also already had Netflix and Amazon Prime on top of the DIRECTV subscription. So, not only did we pay $1,344 a year to DIRECTV, but we also paid $99 to Amazon and $108 to Netflix (under the old pricing) for a grand total of $1,551 a year.
Have you already cut the cord? How much are you saving? Leave us a comment and let us know.