Cable Broadband Growth Is Sputtering, and No One’s Sure Why
- Charter said subscriber gains will fall to the 2018 level
- Phone companies are increasing their internet offerings
A Comcast Corp. field service technician, arrives to install cable service at a residence in Reading, Pennsylvania, U.S.
Photographer: Bradley C. Bower/Bloomberg
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Something is slowing internet subscriber growth at Comcast Corp. and Charter Communications Inc., raising concerns about an end to what has been a huge growth business, with explanations ranging from a slowdown in consumer spending to competition from phone giants.
Charter on Friday reported 25% fewer new broadband subscribers than analysts estimated and said the overall number of new customers would fall back to 2018 levels. Comcast, which had earlier cut its subscriber forecast, reported 300,000 new internet customers Thursday, less than half the number added a year ago.