Since March 2020, the world has become a different place because of the COVID-19 pandemic. All levels of business have been greatly affected, due to lack of funds and unsteady paychecks. Many families and businesses have had to scale back on expenses if they aren’t essential for survival during these hard times. Even though communication is essential, the entertainment aspects of telecommunications companies have been negatively affected by the outbreak.
Many individuals and families have cut their cable package, which has caused some concern for the future of these larger companies. There are telecommunication companies that have suffered but one that hasn’t gone through a massive dive in sales during the pandemic is Charter Communications. Charter Communications has managed to survive the first serious wave of the pandemic recession with minimal internet service cancellations!
Charter Communication is a company that offers services under the branding of Spectrum. Charter has been fortunate to experience a business boom, despite the COVID-19 pandemic! Charter Spectrum has in fact been selling to new customers and increasing internet packages during the recession. There have been some areas of the company that have declined in sales like cable TV services for businesses and mobile services, but Charter is optimistic about the future of their sales.
Spectrum Internet Package Sales Have Increased
Due to many jobs becoming remote during the pandemic early stages in the United States, Spectrum cable internet sales have increased. Many individuals began to opt for faster speeds to ensure that they are able to effectively receive and send materials throughout the workday. Without knowing how long they would potentially be working from home, they needed an upgrade. Spectrum offers excellent packages; the pricing and speed offerings are competitive. It seems this will be the likely continued route of many Americans; the future is still very unclear because of the COVID virus.
Many Folks Have Cut Movie Channels And TV Packages
The need for faster internet service isn’t only for working from home. During the pandemic it has been essential for many individuals and families to get rid of non-essential things, like TV and movie channels. If people want movies and TV shows, the demand has been high only in the streaming services like Netflix, Hulu and Amazon Prime, which have cheaper monthly subscription fees. This means, to have the best of both worlds, a great internet speed will get you the ability to work from home and stream movies for a reasonable cost, satisfying the entire family. In the coming months, Charter believes that even more families will elect to cancel their cable TV packages in an effort to economize, even though the Spectrum TV Packages are very affordable and enticing.
New Spectrum Internet Customers Because Of The Pandemic
The company has seen long term customers cancel their subscriptions, as well as a rise in new customers. This is again due to increased jobs going into a remote capacity and the need for faster, more reliable internet speed. Even with these cuts, Charter suspects the need for high speed internet will help balance the loss of Spectrum cable TV programming subscriptions.
Charter Business Services Have Been Affected
The pandemic has hit the business services side more so than the individual and family packages. Businesses are shutting down temporarily and in some cases, certain businesses have had to cease operations permanently which has had a dramatic impact on these subscribers. Nearly 14% of revenue for TV packages is from businesses, both small and medium sized companies. Charter believes this is going to continue on a downward spiral over the next several months.
Mobile Services Steady; Likely To Increase In Near Future
Charter offers a cheaper option for people on a budget; they have managed to get new customers for their mobile offers. Even in the competitive mobile market with other companies like AT&T and Verizon Wireless, people simply aren’t being swayed as much by bells and whistles when it comes to a phone or phone plan. While Charter hasn’t seen this side of their business soar, in coming months they believe this section of the business will take off as families and individuals will need to scale back on higher cost cell phone bills.
Outlook For Charter Future Months Of Pandemic And Beyond
As in any economy, competition is high. Due to a variety of completely different circumstances than what we are used to and restrictions on what businesses can and can’t do, this has created a shift in life, as we know it. There will always be trials and tribulations in life no matter what economic circumstances the United States may be facing. The United States of America’s ability to adapt and overcome these scenarios via remote employment opportunities is certainly an encouraging thought, and Charter Communications is here to meet everyone’s needs!
Charter is seeing the balance in cable TV subscriptions and a higher demand for better internet packages due to telecommuting workers and recognizing the higher demand for movie streaming services. They also recognize the potential to do well in the coming months with their competitive mobile offers. They just may become the new essential services for the pandemic and beyond. People still want entertainment and still have to be connected to the internet but at prices they can afford and Charter Communications wants to service them.