If you’re one of those people who complain that there’s nothing to watch on TV today even though you have a gazillion channels, you’re not going to be happy with this news – turns out, you’re paying more for cable.
The monthly rate for pay TV has been rising at an average of 6 percent annually and hit $86 a month last year for basic pay and premium-channel TV, according to a report released Tuesday by market research firm The NPD Group. The uptick in licensing fees – which are the fees cable and satellite providers pay for programs – is driving much of the increase, at a time when consumer household income has hardly budged.
The study was based on a quarterly electronic survey of 1,000 U.S. households.
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