Many people have questioned us for years how businesses like Comcast and Spectrum aren’t losing significantly more cable TV customers.
The truth is that many cable TV subscribers are unable to cancel because they are bound by their apartment complex or homeowners’ association (HOA).
Many firms have struck partnerships with apartment owners and homeowners associations over the previous decade to keep cable TV consumers. These agreements require everyone renting or owning property to pay for cable TV and internet as part of the rental contract or HOA fees.
According to iProperty Management, the United States has 355,000 HOAs, representing around 40 million housing units. Even if one-quarter of them form a deal with a cable TV firm, it equates to 10 million cable TV customers.
In addition, there are millions of apartment units in the United States, with an increasing number of them including internet and television in the rent. This increases the number of potential cable TV subscribers for businesses like Spectrum and Comcast.
With only roughly 50 million cable TV subscribers left, it’s easy to see how even 15 million HOA and apartment consumers may help rescue a faltering business model.
Unfortunately, if you rent or own a condo, you may not have a choice—cable TV and internet may be included in your lease or fees. This helps to explain a recent trend of cable TV quiet quitters, who pay for but don’t watch cable TV. Some are likely paying because it is included in their rent or HOA fees.
Hopefully, one day everyone will be able to select and pay for only the services they want, regardless of where they live.
Radiant and America Nu, offering to elevate your entertainment game! Movies, TV series, exclusive interviews, music, and more—download now on various devices, including iPhones, Androids, smart TVs, Apple TV, Fire Stick, and more.
