From CNBC: 2024-09-16 12:52:32

Charter Communications CEO, Chris Winfrey, is aiming to improve the company’s reputation by introducing new bundles, prices, and credits for service outages. With the rollout of Spectrum’s new “Life Unlimited” platform, the company is making efforts to become more customer-friendly and transparent about costs. This move comes as the industry faces challenges like declining broadband growth and cord-cutting issues.

Since taking over as CEO, Winfrey has made significant changes, including a $5.5 billion investment in broadband infrastructure. As the cable TV bundle sees declines and competition grows, Charter’s stock price has fluctuated, closing at $340.17 on Friday compared to $787.12 in September 2021. The company’s growth bright spot is their mobile business, Spectrum Mobile, which has 8.8 million lines.

Despite overall industry challenges in broadband subscriber growth, Spectrum Mobile has been a success story for Charter with enticing promotional deals and growth in average revenue per user. The company launched a “Spectrum One” plan in late 2022, offering broadband, Wi-Fi, and mobile in a bundle. Winfrey believes that focusing on providing value to customers will lead to success in the capital market and regulatory realm.

Charter Communications has faced difficulties in the pay TV business as customers continue to drop traditional TV services. Winfrey criticized the pay TV model and pushed for changes, leading to a new deal with Disney that includes ad-supported Disney+ and ESPN+ in Spectrum TV packages. The cable bundle remains a valuable asset for providers despite the rise of streaming services.



Read more at CNBC: Charter rolls out new Spectrum pricing, internet speeds