The Largest Investor in the Growth of the U.S. Economy
A number of interesting statistics recently assembled by the National Cable & Telecommunications Association show the positive impact that the cable industry has had on the U.S. economy.
Despite a perception that the industry is on the downslide based on the ongoing success of over the top streaming services that are contributing to cord cutting, remains a powerhouse player in the economy. In fact, cable and telecom made the largest investment of any industry in the growth of the U.S. economy at $49 billion, followed by the energy sector at $44 billion. Both industries are far and away the largest investors, with technology following at $29 billion and utilities coming in at $17 billion.
And in a relatively weak economy, cable has provided nearly 2.7 million direct and indirect jobs, including cable operators, suppliers, and programming networks.
But what about the future prospects of cable?
The numbers also suggest that the industry is striving to better position itself moving forward. Cable invested $245 billion in capital infrastructure in 2015, and has already deployed an estimated total of 400,000 Wi-Fi hotspots in the U.S. Deployments will likely continue, making it easier for consumers in hundreds of communities to access the Internet away from home.
Forward-thinking cable operators, too, are increasingly reaching niche audiences with more personalized content, including local sports and news.
Certainly, today’s cable providers are facing their share of challenges, but if it’s true that the numbers tell a story, then this appears to be an optimistic one.