*AITA for Withdrawing My Financial Support for My Daughter's Wedding?*
I'm in a bit of a moral quandary here and could use some outside perspective. I, [50M] had committed to funding my daughter's [23F] wedding, to the tune of $25k, a promise I made with two key conditions: no alcohol at the event and a demonstration of responsible financial behavior in the lead up to the wedding. This stance comes from a deep-seated family history. Growing up, I witnessed the destructive nature of alcohol abuse in my extended family, and it left a lasting impact on me. We've always been a family that values sobriety and financial prudence. My daughter and her fiancé are genuinely wonderful people. They're both successful in their careers, respectful, and have always been considerate around me, especially by never drinking in my presence. Her fiancé, in particular, is a stand-up guy who's been nothing but kind and supportive. They're the kind of couple you'd feel proud to have in your family. The have good, stable jobs, and own a house together. But here's where it gets complicated. I discovered my daughter plans to include a full bar at her wedding. She didn't tell me about this until pressed, I saw the invoice as part of the planning. I confronted her about this, and only after saying I saw the invoice, did she come clean. Plus, yesterday she hit a stroke of what some might call luck – winning $10,000 gambling online on Stake. I've always been firmly against gambling, it's a principle instilled in me by my parents, who saw friends fall into financial ruin due to gambling addiction. To me, this isn't very financially responsible, and violates condition 2. When I confronted her about these issues, it became clear that my daughter views these matters differently. She sees the alcohol as a standard part of celebrations and the gambling win as a harmless stroke of luck. I tried explaining why I'm so opposed to these things, even sharing personal anecdotes about relatives who struggled with alcohol and gambling. But she insists it's her day to celebrate as she wishes. Feeling like my values and our family's legacy were being ignored, I made the difficult decision to withdraw my financial support for the wedding. I told her she could use the money she won and cut out the alcohol to make it work. This has caused a significant strain between us. She feels I'm being unreasonable and controlling, whereas I see it as standing up for what I believe in. The emotional toll this has taken on our relationship is heavy, and I'm left wondering if I'm the asshole here for sticking so rigidly to my principles, even at the cost of my daughter's dream wedding. submitted by /u/viaismikkar to r/AITAH [link] [comments]
[Read more...](https://www.reddit.com/r/AITAH/comments/19feozc/aita_for_withdrawing_my_financial_support_for_my/)
I'm in a bit of a moral quandary here and could use some outside perspective. I, [50M] had committed to funding my daughter's [23F] wedding, to the tune of $25k, a promise I made with two key conditions: no alcohol at the event and a demonstration of responsible financial behavior in the lead up to the wedding. This stance comes from a deep-seated family history. Growing up, I witnessed the destructive nature of alcohol abuse in my extended family, and it left a lasting impact on me. We've always been a family that values sobriety and financial prudence. My daughter and her fiancé are genuinely wonderful people. They're both successful in their careers, respectful, and have always been considerate around me, especially by never drinking in my presence. Her fiancé, in particular, is a stand-up guy who's been nothing but kind and supportive. They're the kind of couple you'd feel proud to have in your family. The have good, stable jobs, and own a house together. But here's where it gets complicated. I discovered my daughter plans to include a full bar at her wedding. She didn't tell me about this until pressed, I saw the invoice as part of the planning. I confronted her about this, and only after saying I saw the invoice, did she come clean. Plus, yesterday she hit a stroke of what some might call luck – winning $10,000 gambling online on Stake. I've always been firmly against gambling, it's a principle instilled in me by my parents, who saw friends fall into financial ruin due to gambling addiction. To me, this isn't very financially responsible, and violates condition 2. When I confronted her about these issues, it became clear that my daughter views these matters differently. She sees the alcohol as a standard part of celebrations and the gambling win as a harmless stroke of luck. I tried explaining why I'm so opposed to these things, even sharing personal anecdotes about relatives who struggled with alcohol and gambling. But she insists it's her day to celebrate as she wishes. Feeling like my values and our family's legacy were being ignored, I made the difficult decision to withdraw my financial support for the wedding. I told her she could use the money she won and cut out the alcohol to make it work. This has caused a significant strain between us. She feels I'm being unreasonable and controlling, whereas I see it as standing up for what I believe in. The emotional toll this has taken on our relationship is heavy, and I'm left wondering if I'm the asshole here for sticking so rigidly to my principles, even at the cost of my daughter's dream wedding. submitted by /u/viaismikkar to r/AITAH [link] [comments]
[Read more...](https://www.reddit.com/r/AITAH/comments/19feozc/aita_for_withdrawing_my_financial_support_for_my/)
Reddit
From the AITAH community on Reddit
Explore this post and more from the AITAH community
AITA for Withdrawing My Financial Support for My Daughter's Wedding?
I'm in a bit of a moral quandary here and could use some outside perspective. I, 50M had committed to funding my daughter's 23F wedding, to the tune of $25k, a promise I made with two key conditions: no alcohol at the event and a demonstration of responsible financial behavior in the lead up to the wedding. This stance comes from a deep-seated family history. Growing up, I witnessed the destructive nature of alcohol abuse in my extended family, and it left a lasting impact on me. We've always been a family that values sobriety and financial prudence. My daughter and her fiancé are genuinely wonderful people. They're both successful in their careers, respectful, and have always been considerate around me, especially by never drinking in my presence. Her fiancé, in particular, is a stand-up guy who's been nothing but kind and supportive. They're the kind of couple you'd feel proud to have in your family. The have good, stable jobs, and own a house together. But here's where it gets complicated. I discovered my daughter plans to include a full bar at her wedding. She didn't tell me about this until pressed, I saw the invoice as part of the planning. I confronted her about this, and only after saying I saw the invoice, did she come clean. Plus, yesterday she hit a stroke of what some might call luck – winning $10,000 gambling online on Stake. I've always been firmly against gambling, it's a principle instilled in me by my parents, who saw friends fall into financial ruin due to gambling addiction. To me, this isn't very financially responsible, and violates condition 2. When I confronted her about these issues, it became clear that my daughter views these matters differently. She sees the alcohol as a standard part of celebrations and the gambling win as a harmless stroke of luck. I tried explaining why I'm so opposed to these things, even sharing personal anecdotes about relatives who struggled with alcohol and gambling. But she insists it's her day to celebrate as she wishes. Feeling like my values and our family's legacy were being ignored, I made the difficult decision to withdraw my financial support for the wedding. I told her she could use the money she won and cut out the alcohol to make it work. This has caused a significant strain between us. She feels I'm being unreasonable and controlling, whereas I see it as standing up for what I believe in. The emotional toll this has taken on our relationship is heavy, and I'm left wondering if I'm the asshole here for sticking so rigidly to my principles, even at the cost of my daughter's dream wedding. submitted by /u/viaismikkar to r/AITAH link comments
Read more...
I'm in a bit of a moral quandary here and could use some outside perspective. I, 50M had committed to funding my daughter's 23F wedding, to the tune of $25k, a promise I made with two key conditions: no alcohol at the event and a demonstration of responsible financial behavior in the lead up to the wedding. This stance comes from a deep-seated family history. Growing up, I witnessed the destructive nature of alcohol abuse in my extended family, and it left a lasting impact on me. We've always been a family that values sobriety and financial prudence. My daughter and her fiancé are genuinely wonderful people. They're both successful in their careers, respectful, and have always been considerate around me, especially by never drinking in my presence. Her fiancé, in particular, is a stand-up guy who's been nothing but kind and supportive. They're the kind of couple you'd feel proud to have in your family. The have good, stable jobs, and own a house together. But here's where it gets complicated. I discovered my daughter plans to include a full bar at her wedding. She didn't tell me about this until pressed, I saw the invoice as part of the planning. I confronted her about this, and only after saying I saw the invoice, did she come clean. Plus, yesterday she hit a stroke of what some might call luck – winning $10,000 gambling online on Stake. I've always been firmly against gambling, it's a principle instilled in me by my parents, who saw friends fall into financial ruin due to gambling addiction. To me, this isn't very financially responsible, and violates condition 2. When I confronted her about these issues, it became clear that my daughter views these matters differently. She sees the alcohol as a standard part of celebrations and the gambling win as a harmless stroke of luck. I tried explaining why I'm so opposed to these things, even sharing personal anecdotes about relatives who struggled with alcohol and gambling. But she insists it's her day to celebrate as she wishes. Feeling like my values and our family's legacy were being ignored, I made the difficult decision to withdraw my financial support for the wedding. I told her she could use the money she won and cut out the alcohol to make it work. This has caused a significant strain between us. She feels I'm being unreasonable and controlling, whereas I see it as standing up for what I believe in. The emotional toll this has taken on our relationship is heavy, and I'm left wondering if I'm the asshole here for sticking so rigidly to my principles, even at the cost of my daughter's dream wedding. submitted by /u/viaismikkar to r/AITAH link comments
Read more...
Reddit
From the AITAH community on Reddit
Explore this post and more from the AITAH community
*After 5 years it finally got me*
I was supposed to go to a hotel party this weekend too submitted by /u/bxxxx34 to r/mildlyinfuriating [link] [comments]
[Read more...](https://www.reddit.com/r/mildlyinfuriating/comments/19ff3xw/after_5_years_it_finally_got_me/)
I was supposed to go to a hotel party this weekend too submitted by /u/bxxxx34 to r/mildlyinfuriating [link] [comments]
[Read more...](https://www.reddit.com/r/mildlyinfuriating/comments/19ff3xw/after_5_years_it_finally_got_me/)
Reddit
From the mildlyinfuriating community on Reddit: After 5 years it finally got me
Explore this post and more from the mildlyinfuriating community
After 5 years it finally got me
I was supposed to go to a hotel party this weekend too submitted by /u/bxxxx34 to r/mildlyinfuriating link comments
Read more...
I was supposed to go to a hotel party this weekend too submitted by /u/bxxxx34 to r/mildlyinfuriating link comments
Read more...
Reddit
From the mildlyinfuriating community on Reddit: After 5 years it finally got me
Explore this post and more from the mildlyinfuriating community
*Demar =?UTF-8?B?0JrRg9C/0LjRgtGMIC0g0KTQvtGA0LzQsCDQvtC00LXQttC00Ys=?=*
via forma full 5 https://ift.tt/uFqUrHA Manage Unsubscribe from these notifications or sign in to manage your Email service.IFTTT Manage on IFTTT: https://ifttt.com/myrecipes/personal/114580525
[Read more...](https://analogindex.livejournal.com/3599249.html)
via forma full 5 https://ift.tt/uFqUrHA Manage Unsubscribe from these notifications or sign in to manage your Email service.IFTTT Manage on IFTTT: https://ifttt.com/myrecipes/personal/114580525
[Read more...](https://analogindex.livejournal.com/3599249.html)
Forma-Odezhda
Купить Товары Demar Купить
Купить Товары
История польской компании DEMAR началась в 1978 году. Предприятие занимается производством детской и взрослой обуви высокого качества. Динамично развиваясь, компания получила заслуженное признание и потребительские симпатии не только
История польской компании DEMAR началась в 1978 году. Предприятие занимается производством детской и взрослой обуви высокого качества. Динамично развиваясь, компания получила заслуженное признание и потребительские симпатии не только
Demar =?UTF-8?B?0JrRg9C/0LjRgtGMIC0g0KTQvtGA0LzQsCDQvtC00LXQttC00Ys=?=
via forma full 5 https://ift.tt/uFqUrHA Manage Unsubscribe from these notifications or sign in to manage your Email service.IFTTT Manage on IFTTT: https://ifttt.com/myrecipes/personal/114580525
Read more...
via forma full 5 https://ift.tt/uFqUrHA Manage Unsubscribe from these notifications or sign in to manage your Email service.IFTTT Manage on IFTTT: https://ifttt.com/myrecipes/personal/114580525
Read more...
Forma-Odezhda
Купить Товары Demar Купить
Купить Товары
История польской компании DEMAR началась в 1978 году. Предприятие занимается производством детской и взрослой обуви высокого качества. Динамично развиваясь, компания получила заслуженное признание и потребительские симпатии не только
История польской компании DEMAR началась в 1978 году. Предприятие занимается производством детской и взрослой обуви высокого качества. Динамично развиваясь, компания получила заслуженное признание и потребительские симпатии не только
*Please Share*
submitted by /u/lukyc8 to r/sadposting [link] [comments]
[Read more...](https://www.reddit.com/r/sadposting/comments/19fb45t/please_share/)
submitted by /u/lukyc8 to r/sadposting [link] [comments]
[Read more...](https://www.reddit.com/r/sadposting/comments/19fb45t/please_share/)
Reddit
From the sadposting community on Reddit: Please Share
Explore this post and more from the sadposting community
*The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back*
submitted by /u/kadargo to r/news [link] [comments]
[Read more...](https://www.reddit.com/r/news/comments/19fcjve/the_us_economy_grew_at_blistering_33_pace_in_q4/)
submitted by /u/kadargo to r/news [link] [comments]
[Read more...](https://www.reddit.com/r/news/comments/19fcjve/the_us_economy_grew_at_blistering_33_pace_in_q4/)
Reddit
From the news community on Reddit: The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back
Explore this post and more from the news community
The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back
submitted by /u/kadargo to r/news link comments
Read more...
submitted by /u/kadargo to r/news link comments
Read more...
Reddit
From the news community on Reddit: The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back
Explore this post and more from the news community
*As far as Republicans go, Romney isn't too bad.*
submitted by /u/yorocky89A to r/WhitePeopleTwitter [link] [comments]
[Read more...](https://www.reddit.com/r/WhitePeopleTwitter/comments/19fdbv2/as_far_as_republicans_go_romney_isnt_too_bad/)
submitted by /u/yorocky89A to r/WhitePeopleTwitter [link] [comments]
[Read more...](https://www.reddit.com/r/WhitePeopleTwitter/comments/19fdbv2/as_far_as_republicans_go_romney_isnt_too_bad/)
Reddit
From the WhitePeopleTwitter community on Reddit: As far as Republicans go, Romney isn't too bad.
Explore this post and more from the WhitePeopleTwitter community
As far as Republicans go, Romney isn't too bad.
submitted by /u/yorocky89A to r/WhitePeopleTwitter link comments
Read more...
submitted by /u/yorocky89A to r/WhitePeopleTwitter link comments
Read more...
Reddit
From the WhitePeopleTwitter community on Reddit: As far as Republicans go, Romney isn't too bad.
Explore this post and more from the WhitePeopleTwitter community
*11 Clever Bookshelf Decor Ideas for Styling Your Space Like a Pro*
From color-coding tips to layering in art and trinkets. READ MORE...
[Read more...](https://www.apartmenttherapy.com/bookshelf-decor-37368265?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
From color-coding tips to layering in art and trinkets. READ MORE...
[Read more...](https://www.apartmenttherapy.com/bookshelf-decor-37368265?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
Apartment Therapy
11 Clever Bookshelf Decor Ideas for Styling Your Space Like a Pro
From color-coding tips to layering in art and trinkets.
* If You Buy One Thing from Macy’s Big Home Sale, It Should Be This Plush $80 Mattress Pad That’ll Make Your Bed “Simply Heavenly”*
It's 60% off! READ MORE...
[Read more...](https://www.apartmenttherapy.com/hotel-collection-extra-deep-mattress-pad-macys-reviews-37368648?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
It's 60% off! READ MORE...
[Read more...](https://www.apartmenttherapy.com/hotel-collection-extra-deep-mattress-pad-macys-reviews-37368648?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
Apartment Therapy
If You Buy One Thing from Macy’s Big Home Sale, It Should Be This Plush $80 Mattress Pad That’ll Make Your Bed “Simply Heavenly”
If there’s anything worth investing in for your home, it’s bedding. Whether you opt for a higher quality mattress, comforter, or even something as seemingly small as sheets, you’ll thank yourself over and over again when you jump into bed at the end of the…
11 Clever Bookshelf Decor Ideas for Styling Your Space Like a Pro
From color-coding tips to layering in art and trinkets. READ MORE...
Read more...
From color-coding tips to layering in art and trinkets. READ MORE...
Read more...
Apartment Therapy
11 Clever Bookshelf Decor Ideas for Styling Your Space Like a Pro
From color-coding tips to layering in art and trinkets.
If You Buy One Thing from Macy’s Big Home Sale, It Should Be This Plush $80 Mattress Pad That’ll Make Your Bed “Simply Heavenly”
It's 60% off! READ MORE...
Read more...
It's 60% off! READ MORE...
Read more...
Apartment Therapy
If You Buy One Thing from Macy’s Big Home Sale, It Should Be This Plush $80 Mattress Pad That’ll Make Your Bed “Simply Heavenly”
If there’s anything worth investing in for your home, it’s bedding. Whether you opt for a higher quality mattress, comforter, or even something as seemingly small as sheets, you’ll thank yourself over and over again when you jump into bed at the end of the…
*Guy tries to steal from Indian owned gas station*
submitted by /u/MASOOOOOOOD to r/Unexpected [link] [comments]
[Read more...](https://www.reddit.com/r/Unexpected/comments/19ffgze/guy_tries_to_steal_from_indian_owned_gas_station/)
submitted by /u/MASOOOOOOOD to r/Unexpected [link] [comments]
[Read more...](https://www.reddit.com/r/Unexpected/comments/19ffgze/guy_tries_to_steal_from_indian_owned_gas_station/)
Reddit
From the Unexpected community on Reddit: Guy tries to steal from Indian owned gas station
Posted by MASOOOOOOOD - 37,109 votes and 5,156 comments
Guy tries to steal from Indian owned gas station
submitted by /u/MASOOOOOOOD to r/Unexpected link comments
Read more...
submitted by /u/MASOOOOOOOD to r/Unexpected link comments
Read more...
Reddit
From the Unexpected community on Reddit: Guy tries to steal from Indian owned gas station
Posted by MASOOOOOOOD - 37,109 votes and 5,156 comments
*A major trend is continuing to shrink Comcast’s pool of customers*
Customers are continuing to jump ship from cable TV, and Comcast is facing the aftermath of it as it has lost roughly 389,000 TV subscribers in the last few months of 2023, according to its fourth-quarter earnings report. The culprit of the plunge of subscribers can be attributed to cord-cutting, which is a trend where consumers have been canceling their cable TV services in favor of subscribing to streaming services such as HBO, Hulu, Netflix, etc. in an effort to save money.Related: Cable companies fight to keep the ‘cancel’ button hidden from consumers The average cable TV bill is around $20 to $145 a month, while streaming is around $6.99 to $74.99 a month, according to Allconnect. Comcast has been on a roll with hiking its prices for its TV and internet service for the past few years. Its last price hike was announced in December where the company warned customers that they will see a 3% increase in their bills on average for 2024 citing rising costs, according to Bloomberg. The company also revealed with the news outlet that its internet service alone will increase by $3 a month. In Comcast’s fourth-quarter earnings report, it revealed that in addition to losing over 300,000 TV subscribers during the quarter in 2023, it also lost 34,000 broadband customers. This is a stark increase from the 18,000 loss in broadband customers it reported in the third quarter of 2023. A Comcast Xfinity truck is photographed driving down a street. Image source: Shutterstock “While we do not expect subscriber trends to improve in the coming quarters, we do expect them to improve over time,” said Jason Armstrong, chief financial officer at Comcast, during a fourth-quarter results earnings call. Armstrong also highlighted during the earnings call that because customers are consuming more and connecting more devices in their homes where they are using applications that require faster internet speeds, the “secular trends are all moving” in the company’s “favor.” In the U.S., TV households that have “a live pay-TV service (via cable, satellite, Telco, or Internet-delivered vMVPD)” has decreased by 78% since 2018, according to a recent study by Leichtman Research Group. “The percent of U.S. TV households with a live pay-TV service waned over the past decade, with a more precipitous decline over the past five years,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group.Related: Veteran fund manager picks favorite stocks for 2024
[Read more...](https://www.thestreet.com/technology/a-major-trend-is-continuing-to-shrink-comcasts-pool-of-customers)
Customers are continuing to jump ship from cable TV, and Comcast is facing the aftermath of it as it has lost roughly 389,000 TV subscribers in the last few months of 2023, according to its fourth-quarter earnings report. The culprit of the plunge of subscribers can be attributed to cord-cutting, which is a trend where consumers have been canceling their cable TV services in favor of subscribing to streaming services such as HBO, Hulu, Netflix, etc. in an effort to save money.Related: Cable companies fight to keep the ‘cancel’ button hidden from consumers The average cable TV bill is around $20 to $145 a month, while streaming is around $6.99 to $74.99 a month, according to Allconnect. Comcast has been on a roll with hiking its prices for its TV and internet service for the past few years. Its last price hike was announced in December where the company warned customers that they will see a 3% increase in their bills on average for 2024 citing rising costs, according to Bloomberg. The company also revealed with the news outlet that its internet service alone will increase by $3 a month. In Comcast’s fourth-quarter earnings report, it revealed that in addition to losing over 300,000 TV subscribers during the quarter in 2023, it also lost 34,000 broadband customers. This is a stark increase from the 18,000 loss in broadband customers it reported in the third quarter of 2023. A Comcast Xfinity truck is photographed driving down a street. Image source: Shutterstock “While we do not expect subscriber trends to improve in the coming quarters, we do expect them to improve over time,” said Jason Armstrong, chief financial officer at Comcast, during a fourth-quarter results earnings call. Armstrong also highlighted during the earnings call that because customers are consuming more and connecting more devices in their homes where they are using applications that require faster internet speeds, the “secular trends are all moving” in the company’s “favor.” In the U.S., TV households that have “a live pay-TV service (via cable, satellite, Telco, or Internet-delivered vMVPD)” has decreased by 78% since 2018, according to a recent study by Leichtman Research Group. “The percent of U.S. TV households with a live pay-TV service waned over the past decade, with a more precipitous decline over the past five years,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group.Related: Veteran fund manager picks favorite stocks for 2024
[Read more...](https://www.thestreet.com/technology/a-major-trend-is-continuing-to-shrink-comcasts-pool-of-customers)
TheStreet
A major trend is continuing to shrink Comcast’s pool of customers
The cable TV giant has just reported a large decrease in its subscribers.
A major trend is continuing to shrink Comcast’s pool of customers
Customers are continuing to jump ship from cable TV, and Comcast is facing the aftermath of it as it has lost roughly 389,000 TV subscribers in the last few months of 2023, according to its fourth-quarter earnings report. The culprit of the plunge of subscribers can be attributed to cord-cutting, which is a trend where consumers have been canceling their cable TV services in favor of subscribing to streaming services such as HBO, Hulu, Netflix, etc. in an effort to save money.Related: Cable companies fight to keep the ‘cancel’ button hidden from consumers The average cable TV bill is around $20 to $145 a month, while streaming is around $6.99 to $74.99 a month, according to Allconnect. Comcast has been on a roll with hiking its prices for its TV and internet service for the past few years. Its last price hike was announced in December where the company warned customers that they will see a 3% increase in their bills on average for 2024 citing rising costs, according to Bloomberg. The company also revealed with the news outlet that its internet service alone will increase by $3 a month. In Comcast’s fourth-quarter earnings report, it revealed that in addition to losing over 300,000 TV subscribers during the quarter in 2023, it also lost 34,000 broadband customers. This is a stark increase from the 18,000 loss in broadband customers it reported in the third quarter of 2023. A Comcast Xfinity truck is photographed driving down a street. Image source: Shutterstock “While we do not expect subscriber trends to improve in the coming quarters, we do expect them to improve over time,” said Jason Armstrong, chief financial officer at Comcast, during a fourth-quarter results earnings call. Armstrong also highlighted during the earnings call that because customers are consuming more and connecting more devices in their homes where they are using applications that require faster internet speeds, the “secular trends are all moving” in the company’s “favor.” In the U.S., TV households that have “a live pay-TV service (via cable, satellite, Telco, or Internet-delivered vMVPD)” has decreased by 78% since 2018, according to a recent study by Leichtman Research Group. “The percent of U.S. TV households with a live pay-TV service waned over the past decade, with a more precipitous decline over the past five years,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group.Related: Veteran fund manager picks favorite stocks for 2024
Read more...
Customers are continuing to jump ship from cable TV, and Comcast is facing the aftermath of it as it has lost roughly 389,000 TV subscribers in the last few months of 2023, according to its fourth-quarter earnings report. The culprit of the plunge of subscribers can be attributed to cord-cutting, which is a trend where consumers have been canceling their cable TV services in favor of subscribing to streaming services such as HBO, Hulu, Netflix, etc. in an effort to save money.Related: Cable companies fight to keep the ‘cancel’ button hidden from consumers The average cable TV bill is around $20 to $145 a month, while streaming is around $6.99 to $74.99 a month, according to Allconnect. Comcast has been on a roll with hiking its prices for its TV and internet service for the past few years. Its last price hike was announced in December where the company warned customers that they will see a 3% increase in their bills on average for 2024 citing rising costs, according to Bloomberg. The company also revealed with the news outlet that its internet service alone will increase by $3 a month. In Comcast’s fourth-quarter earnings report, it revealed that in addition to losing over 300,000 TV subscribers during the quarter in 2023, it also lost 34,000 broadband customers. This is a stark increase from the 18,000 loss in broadband customers it reported in the third quarter of 2023. A Comcast Xfinity truck is photographed driving down a street. Image source: Shutterstock “While we do not expect subscriber trends to improve in the coming quarters, we do expect them to improve over time,” said Jason Armstrong, chief financial officer at Comcast, during a fourth-quarter results earnings call. Armstrong also highlighted during the earnings call that because customers are consuming more and connecting more devices in their homes where they are using applications that require faster internet speeds, the “secular trends are all moving” in the company’s “favor.” In the U.S., TV households that have “a live pay-TV service (via cable, satellite, Telco, or Internet-delivered vMVPD)” has decreased by 78% since 2018, according to a recent study by Leichtman Research Group. “The percent of U.S. TV households with a live pay-TV service waned over the past decade, with a more precipitous decline over the past five years,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group.Related: Veteran fund manager picks favorite stocks for 2024
Read more...
TheStreet
A major trend is continuing to shrink Comcast’s pool of customers
The cable TV giant has just reported a large decrease in its subscribers.