Cable companies are posing a significant challenge to major mobile network operators like AT&T, Verizon, and T-Mobile. Recent data from MoffettNathanson, as shared by Light Reading, indicates that cable firms Charter, Comcast, and Altice USA managed to secure 15 percent of new mobile customers during the last quarter of 2024, setting a new record for Q4. In total, these cable companies added 876,000 new lines, raising their total customer base to 18.16 million.
In contrast, T-Mobile accounted for 31.1 percent of the net additions in the same timeframe, while Verizon and AT&T contributed 30.1 percent and 22.8 percent, respectively. As MVNOs using Verizon’s network, Comcast and Charter benefited Verizon indirectly, although much of their wireless traffic is primarily routed through Wi-Fi. T-Mobile’s partnership with Altice USA likely affected its gains only minimally.
The MoffettNathanson report does not include customer numbers from Cox Communications, which could have further boosted the cable industry’s figures. Even without this data, the overall performance of cable companies represents a notable shift in the market. The threat is not just from the larger cable operators; smaller companies like WideOpenWest, Mediacom, Midco, and others are now entering the mobile service space, intensifying competition for the major three players.
Additionally, Comcast’s recent offer of free wireless services to broadband customers could further complicate growth for established mobile networks. Despite these challenges, the U.S. mobile industry remains robust and is experiencing growth, partly due to consumers using multiple devices for personal and professional purposes. However, stricter immigration policies might hinder subscriber growth in the coming year.
As consumers seek better options and react against rising prices from wireless companies, the growing preference for cable operators may reflect a shift away from traditional providers and an openness to alternative services.