Slower 1Q 2024 Broadband Growth

Cable companies seem to have turned the corner from continually gaining customers to now losing customers. This is a consequence of increased competition from fiber overbuilders and FWA cellular wireless. In the first quarter of 2024, the sale of FWA cellular slowed down for T-Mobile and Verizon, from 929,000 to 759,000 in the first quarter. But FWA still counts for practically all of the net broadband gains for the quarter. Experts are predicting a much smaller number of total net customer additions for 2024, which is due to two issues. First is the lower number of new housing startups due to continued high interest rates. There is also a general sense that the entire industry is finally reaching maturity.