Cable Drives the Economy – And More

| March 01, 2018 | |

Could you go a day without broadband? From home to job, you might be surprised to realize how much of your daily activity relies on a connection to the internet. A majority of Americans agree that high-speed internet is integral to the economy not just because of the many jobs, according to a recent poll.

With a total economic impact of $421 billion, the cable industry that supports an astounding 2.9 million jobs across the country. In the past decade In Texas, the cable industry translates to 151,527 direct and indirect jobs, 16,614 cable employees and an economic impact of $22.61 billion.

And cable’s impact is growing – the industry has added about a million jobs in the last decade, more than the population of Austin, according to the 2015 census.

But not only do about three fourths of Americans say that cable is important to local, state and national economies – 64 percent say it’s important to their jobs.

What about after work, in the home? As we’ve seen with the “internet of things,” broadband in the home is now for much more than surfing the internet or streaming video. More and more, it’s being integrated into household functions, from controlling the thermostat and other home operations to cooking to cleaning to exercising and more. Certainly, the sales of Google and Amazon (Echo) home voice assistants have exploded in recent months.

Our January newsletter explored some the newest transformative trends unveiled at this year’s Consumer Electronics Show.

Today, any home – no matter when built – can be a “smart home.”

How important is internet access? Very important, polls find. Even six years ago, a survey found that some Americans would give up sex for a year (21 percent), forgo alcohol (77 percent) or quit coffee (63 percent) in order to stay online.

So how are Americans getting online? Most are turning to cable for their high-speed broadband services. Cable has captured about 64 percent of the broadband market, and its share is consistently growing, even as telcos are losing broadband subscribers. In the fourth quarter of 2017, cable accounted for 115 percent of all broadband additions.

Thank you! Your subscription has been confirmed. You'll hear from us soon.