Spectrum (CHTR) Offers Free Amazon Prime After Losing 172,000 Customers

Spectrum, owned by Charter Communications (CHTR), is introducing a free Amazon Prime offer for its internet customers following a loss of 172,000 internet users in Q2 2023. The company reported a 3.2% decline in internet revenue year over year. The move comes after Spectrum raised prices by $10 on several plans in July. This strategy aims to enhance customer retention amidst fierce competition from AT&T, Verizon, and T-Mobile, who are winning over customers with lower prices and bundled services. This matters for investors as it highlights Spectrum's challenges in maintaining its customer base and revenue growth.