Comcast Raises Prices Across the Board: How Much More Will You Shell Out Monthly?

Comcast Corp CMCSA has begun notifying customers in specific markets about an impending price increase for cable TV services. 

This hike will raise the monthly cost of TV packages by approximately $6. Additionally, Comcast's Broadcast TV fees will see a $4 increase, while Regional Sports fees will rise by about $1 monthly. 

Bundles of premium channels will experience a price rise of $2 to $4 per month, varying with the selected package, the Cord Cutters News reports.

Interestingly, NBCUniversal's streaming service Peacock hit 30 million subscribers this week. At an event, Comcast's President Mike Cavanagh revealed that Peacock has reached an average revenue per user (ARPU) of $10 per month.

Cut to the present, internet services from Comcast will likely increase by an average of $4 monthly across all internet packages. 

Telephone service customers will face a $5 monthly increase in their bills. Consequently, a Comcast customer subscribing to TV, internet, and phone services could see their total bill increase by up to $20 per month, depending on their subscription choices. 

This announcement follows closely on the heels of DIRECTV's second price hike in 2024.

The new pricing, including regional sports fees and broadcast TV fees, will differ by area. The rate changes will likely take effect on December 18, 2023, with customers seeing the increased charges on their subsequent bills.

Comcast's decision to raise prices reflected the growing costs imposed by cable networks for their content.

Price Action: CMCSA shares traded higher by 0.56% at $41.85 on the last check Wednesday.