As cord cutting has matured and helped millions save money on TV now cord cutters have new ways to save money. Now cord cutting has come for internet services and will make it easy to save money with cord cutting 2.0
So what is cord cutting 2.0? Cord Cutting 1.0 was cutting the cord on cable TV. Now in 2023, cord cutting 2.0 is about cutting the cord on home internet and getting new options.
Cord Cutting 2.0 is getting off to a strong start in 2023 as in just the 2nd quarter of the month, T-Mobile and Verizon added 893,000 new 5G Home Internet Customers. This is on top of the 523,000 home 5G home internet customers that T-Mobile added in the 1st quarter of 2023.
This growth in 5G home internet has hit traditional cable TV companies hard. Comcast lost 19,000 broadband customers in the 2nd quarter of 2023. AT&T lost 35,000 broadband customers, and Spectrum added just 77,000 broadband customers in the 2nd quarter of 2023.
Spectrum addressed slow growth in its home internet service by saying it was impacted by cheaper 5G Home Internet options. These are services like 5G Home Internet from companies like T-Mobile, Verizon, and even AT&T in select markets.
So far, in 2023, T-Mobile has now added over a million 5G home internet customers. This is likely just the start for T-Mobile as they slowly work to grow its service.
5G home internet is not the only way Americans are cutting the cord on cable internet. Increasingly new Fiber options from new competitors are growing. You also see new, faster high-speed internet services from space with SpaceX’s Starlink and soon Amazon offering affordable internet options from space for rural Americans.
For years cable companies counted on their internet services to offset the losses with TV. Now though cable companies are facing real competition in the world of home internet, something they have not faced in a long time.
Cord cutting 2.0 may still be in the very early days, but a growing number of Americans have started to look for cheaper options for internet. Like the early days of cord cutting, this movement is picking up speed with no signs of slowing.