Fixed wireless added 920,000 subscribers in Q3. Verizon and T-Mobile are marketing hard. As they fill in the rest of the country with mid-band, adds will probably grow. Their combined goal of 14 million by 2025 is realistic.
The US as a whole only added 825,000 broadband customers (Including FWA,)These dismal figures do not imp,y despite $billions in ACP subsidies. DSL was down a shocking 685,000. Fiber had 550,000 adds, not enough to make up for the DSL losses.
These dismal figures do not imply you should sell the stocks. Charter already is down 45%. Craig Moffett is considering whether the stocks have gone so far down that it looks like up.
From Bruce Leichtman, whose analysis has been sound for many years.
About 825,000 Added Broadband in 3Q 2022
Fixed Wireless Services Had 925,000 Net Adds in the Quarter
Durham, NH — November 15, 2022 — Leichtman Research Group, Inc. (LRG) found that the largest cable and wireline phone providers and fixed wireless services in the U.S. – representing about 96% of the market – acquired about 825,000 net additional broadband Internet subscribers in 3Q 2022, similar to a pro forma gain of about 820,000 subscribers in 3Q 2021.
These top broadband providers account for about 110.8 million subscribers, with top cable companies having about 75.6 million broadband subscribers, top wireline phone companies having over 32 million subscribers, and top fixed wireless services having about 3.2 million subscribers.
Findings for the quarter include:
Overall, broadband additions in 3Q 2022 were 101% of those in 3Q 2021
The top cable companies added about 40,000 subscribers in 3Q 2022 – compared to about 590,000 net adds in 3Q 2021
The top wireline phone companies lost about 135,000 total broadband subscribers in 3Q 2022 – compared to about 40,000 net adds in 3Q 2021
Wireline Telcos had about 550,000 net adds via fiber in 3Q 2022, and about 685,000 non-fiber net losses
Fixed wireless/5G home Internet services from T-Mobile and Verizon added about 920,000 subscribers in 3Q 2022 – compared to about 190,000 net adds in 3Q 2021
“Top broadband providers added about 825,000 subscribers in 3Q 2022, including 920,000 net adds for fixed wireless services, along with a minor gain for cable, and net losses for wireline phone providers,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group, Inc. “Over the past year, fixed wireless services have accounted for nearly 80% of the approximately 3,260,000 net broadband additions.”
Broadband Providers
Subscribers at end of 3Q 2022
Net Adds in 3Q 2022
Cable Companies
Comcast
32,177,000
14,000
Charter
30,328,000
75,000
Cox*
5,560,000
0
Altice
4,290,600
(43,000)
Mediacom*
1,468,000
0
Cable One**
1,062,000
3,000
Breezeline**
707,954
(9,965)
Total Top Cable
75,593,554
39,035
Wireline Phone Companies
AT&T
15,452,000
(57,000)
Verizon
7,447,000
35,000
Lumen
4,256,000
(121,000)
Frontier
2,831,000
4,000
Windstream
1,175,000
(3,500)
TDS
506,500
5,700
Consolidated
381,912
699
Total Top Wireline Phone
32,049,412
(136,101)
Fixed Wireless Services
T-Mobile
2,122,000
578,000
Verizon^
1,063,000
342,000
Total Top Fixed Wireless
3,185,000
920,000
Total Top Broadband
110,827,966
822,934
Sources: The Companies and Leichtman Research Group, Inc.
Fixed wireless added 920,000 subscribers in Q3. Verizon and T-Mobile are marketing hard. As they fill in the rest of the country with mid-band, adds will probably grow. Their combined goal of 14 million by 2025 is realistic.