Cable TV, of course, did not predate Benjamin Franklin. But had technology evolved faster, the American statesman and scientist could have said only three things are for certain: death, taxes and rising monthly cable TV bills.
That’s right, cable TV bills are going up again, says a Bloomberg report, which surveyed Comcast (NASDAQ:CMCSA), Time Warner Cable (NYSE:TWC) and Cablevision Systems (NYSE:CVC), as well as satellite TV broadcaster Dish Network (NASDAQ:DISH) and AT&T (NYSE:T).
Pay-TV companies continue to hike prices amid the rise of “cord-cutting” — disconnecting cable TV service and substituting Internet video — as well as cord-shaving, in which consumers buy smaller packages of TV shows. Rising programming costs, especially those for live sports, have been passed onto consumers.
According to Bloomberg, here’s what’s coming next year:
Time Warner Cable is raising its sports programming fee by $2.25 to $5 per month and its broadcast programming fee by $1 to $3.75.
Comcast, the biggest U.S. cable company, will increase its broadcast fee by $1.75 to $5 and its regional sports fee by $2 to $3. Overall, Comcast customers’ bills will increase on average by 3.9% in 2016.
Dish subscribers will pay $2 to $8 more per month on TV packages.
AT&T’s U-Verse customers will see a monthly increase of between $2 and $4, while satellite-TV provider DirecTV, bought by AT&T this year, will increase its monthly bill between $4 and $8.
At Cablevision, bills will go up by 2.9% on average.