Rogers Cable has begun notifying customers that effective July 1st, it will be raising basic cable rates by 5%, from $29.99 to $31.49 per month.
In addition, the company has raised many of its most popular cable packages by a similar percentages.
Among the increases:
- Extended Basic increases 5.3% from $56.48 to $59.23 per month
- VIP Digital Cable up 5% from $60.48 to $63.48 per month
- Digital VIP Ultimate up 3.7% from $80.46 to $83.46 per month
- VIP Plus movies up 4% from $99.46 to $103.46 per month
In announcing the increase, Rogers is telling its customers that its costs have gone up 10% in the last year and the company is absorbing the additional costs above 5%.
Where Rogers came up with the figure that costs are increasing by 10% is unknown. According to Rogers Communications most recent financial statements, adjusted operating profits at Cable operations for the first three months of this year rose 10% to $449 million on a 6% increase in revenues and a 3% increase in operating expenses.
Rogers last increased its cable prices in March of 2009 when it raised basic cable rates by 5.2%.
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