Leichtman Research Group, Inc. (LRG) found that the largest cable and telephone providers in the U.S. – representing about 96% of the market – acquired about 1,165,000 net additional broadband Internet subscribers in 1Q 2020, compared to a pro forma gain of about 955,000 subscribers in 1Q 2019.
These top broadband providers now account for about 102.4 million subscribers, notes the analyst, with top cable companies having 69.2 million broadband subscribers, and top wireline phone companies having 33.2 million subscribers.
Highlights of LRG's findings for the quarter include:
- Overall, broadband additions in 1Q 2020 were 122% of those in 1Q 2019.
- Broadband additions overall were the most in any quarter since 1Q 2015.
- The top cable companies added about 1,230,000 subscribers in 1Q 2020 – 132% of the net adds for the top cable companies in 1Q 2019.
- Cable broadband net additions were the most in any quarter since 1Q 2007.
- The top wireline phone companies had a net loss of about 65,000 subscribers in 1Q 2020 – compared to a net gain of about 20,000 subscribers in 1Q 2019.
- Over the past year, there were about 2,750,000 net broadband adds – compared to about 2,635,000 net broadband adds over the prior year.
“With the onset of the coronavirus pandemic, there were more quarterly net broadband additions in 1Q 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.”
View LRG's full announcement, with a comprehensive graph of the research, here.