Comcast & Spectrum Are Struggling As Americans Stop Signing Up For Internet As Part of Cord Cutting 2.0

People continue to cut ties with cable broadband providers as reports from MoffettNathanson show cable broadband subscriber growth numbers are plummeting year over year.  Broadband cable started 2021 with 6.9 percent growth year over year and continued to fall roughly 1 percent each quarter throughout the year, ending with 3.8 percent growth. This trend continued through 2022 as well, starting with 3.2 percent growth in the first quarter, 2 percent in the second quarter, and 1.2 percent in the third quarter. By the end of the fourth quarter, broadband subscriber numbers had fallen to only 0.7 percent growth year over year. In contrast, in the 1st quarter of 2023, T-Mobile added 523,000 home internet customers. That number is more new home internet customers than AT&T, Comcast, Charter, and Verizon added in the 4th quarter of 2022 combined, according to T-Mobile. This comes as Americans are being drawn to cheaper new options, including T-Mobile’s $ 50-a-month home internet service. 2023 isn’t looking promising for broadband cable either. First quarterly reports show a measly 0.1 percent growth. MoffettNathanson’s analyst Craig Moffett predicts broadband subscriber growth to be “minimal going forward”, estimating averages of 0.7 percent through 2027.