Leichtman Research Group, Inc. (LRG), which specializes in research and analysis of broadband, media, and entertainment industries, found that the largest cable and telephone providers in the U.S. acquired approximately 1,165,000 net additional broadband internet subscribers in Q1 2020. The increase was up 122 percent YOY as compared to Q1 2019. In a press release, LRG noted that this increase is the “most quarterly broadband additions since Q1 2015.”
The top broadband providers – representing about 96 percent of the market – account for a total of 102.4 million subscribers. The top providers include cable companies, which have 69.2 million broadband subscribers, and wireline phone companies, with 33.2 million subscribers. While the cable companies saw an increase in subscribers in Q1 2020 of 1,230,000 (a 132 percent uptick over Q1 2019), wireline phone companies experienced a decrease, with a net loss of 65,000 subscribers in Q1 2020, as compared to Q1 2019.
“With the onset of the coronavirus pandemic, there were more quarterly net broadband additions in Q1 2020 than in any quarter in five years,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group, Inc. “Top cable companies performed particularly well, having the most net additions for cable broadband services in any quarter in thirteen years.”
Top cable companies Comcast and Charter had the most net adds in Q1 2020, at 477,000 and 582,000, respectively. Verizon also added 26,000 subscribers in Q1 2020, while AT&T’s subscribers decreased by 74,000.
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