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 1,245,000 net additional broadband Internet subscribers in 2Q 2020, compared to a pro forma gain of about 375,000 subscribers in 2Q 2019.
According to the analyst, these top broadband providers now account for about 103.3 million subscribers, with top cable companies having 70.6 million broadband subscribers, and top wireline phone companies having 32.7 million subscribers.
Highlights of LRG's findings for the quarter include:
- Overall, broadband additions in 2Q 2020 were about 870,000 more than in 2Q 2019. Broadband additions overall were the most in any quarter since 1Q 2012.
- The top cable companies added about 1,400,000 subscribers in 2Q 2020 – compared to a net gain of about 530,000 subscribers in 2Q 2019.
- Cable broadband net additions were the most in any quarter since 1Q 2007.
- Charter’s 850,000 net adds in 2Q 2020 were more than for any provider in any previous quarter.
The research also found that the top wireline phone companies had a net loss of about 155,000 subscribers in 2Q 2020 – compared to a net loss of about 160,000 subscribers in 2Q 2019
“With the continued impact of the coronavirus pandemic, there were more quarterly net broadband additions in 2Q 2020 than in any quarter in eight years,” commented Bruce Leichtman, president and principal analyst for Leichtman Research Group, Inc.
Leichtman added, “In the first half of 2020, there were over 2.4 million net broadband additions. This is the most net adds in the first half of any year since 2008.”