Key Takeaways
- The global cable TV market revenue reached $126.3 billion in 2023, driven by a 2.1% increase from 2022 due to premium content subscriptions and broadband bundling.
- U.S. cable operators generated $102.4 billion in video revenue in 2022, accounting for 45% of total multichannel video market share.
- Worldwide pay TV revenues including cable grew to $220 billion in 2023, with cable contributing 38% of the total amid streaming competition.
- U.S. cable video subscribers totaled 59.3 million in Q1 2024, down 1.9% YoY.
- Comcast had 31.5 million broadband subscribers as of Q1 2024, up 334K YoY.
- Charter Communications reported 30.1 million Internet customers in Q1 2024.
- U.S. cable operators invested $8.2 billion in network upgrades in 2023.
- Global submarine cable deployment length reached 1.4 million km in 2023.
- Comcast capex for cable networks was $7.7 billion in 2023.
- Average U.S. cable download speed hit 487 Mbps in Q4 2023.
- DOCSIS 3.1 adoption reached 75% of U.S. cable modems by 2023.
- Global cable gigabit broadband availability 55% of passed homes 2023.
- Comcast market share in U.S. cable broadband 32% in 2023.
- Charter Communications 29% share of U.S. cable broadband subs 2023.
- AT&T fiber overtook cable in 12% of U.S. markets by 2023.
Despite streaming competition, the global cable industry remains robust, fueled by broadband growth and network upgrades.
Competitive Landscape
- Comcast market share in U.S. cable broadband 32% in 2023.
- Charter Communications 29% share of U.S. cable broadband subs 2023.
- AT&T fiber overtook cable in 12% of U.S. markets by 2023.
- Cable MSOs held 57% of U.S. fixed broadband market in 2023.
- Verizon Fios captured 8% broadband share from cable in Northeast 2023.
- T-Mobile 5G home internet took 5 million subs from cable by 2023.
- Europe Liberty Global cable ops 25% market share in key countries 2023.
- Submarine cable market leader SubCom holds 40% share of new builds 2023.
- Cox 6% national U.S. cable broadband share in 2023.
- Cable One 1% share but highest ARPU in U.S. MSOs 2023.
- Virgin Media O2 50% UK fixed broadband market share 2023.
- India top cable op Hathway 15% digital cable share 2023.
- Brazil Claro NET 60% cable market dominance 2023.
- Australia Foxtel 70% pay TV market incl cable 2023.
- Canada Rogers 35% cable broadband share post-Shaw 2023.
- South Korea top 3 cable ops 80% market share 2023.
- Germany Vodafone Kabel Deutschland 45% cable share 2023.
- France SFR (Numericable) 30% cable broadband share 2023.
- Italy Fastweb 20% ultra-broadband incl cable 2023.
- Spain Telecable 15% regional cable dominance Asturias 2023.
- Netherlands Ziggo/VodafoneZiggo 40% market share 2023.
- Switzerland Sunrise UPC 35% cable share 2023.
- Poland UPC 25% cable broadband share pre-merger 2023.
- Streaming services eroded cable video share to 40% U.S. MVPD 2023.
- Fixed wireless access (FWA) captured 3% U.S. broadband from cable 2023.
Competitive Landscape Interpretation
Infrastructure and Investment
- U.S. cable operators invested $8.2 billion in network upgrades in 2023.
- Global submarine cable deployment length reached 1.4 million km in 2023.
- Comcast capex for cable networks was $7.7 billion in 2023.
- Charter spent $2.5 billion on DOCSIS 3.1 and fiber in 2023.
- Total U.S. cable plant passed 95 million homes with gigabit speeds by 2023.
- Europe cable operators invested €7.5 billion in full-fiber in 2023.
- Global undersea cable capex $14.3 billion for new systems 2023-2025.
- Cox capex $1.8 billion primarily for HFC upgrades in 2023.
- Cable One invested $450 million in network expansion 2023.
- Virgin Media full-fiber passed 3 million premises in 2023.
- India analog-to-digital cable migration covered 95% of subs by 2023.
- Brazil cable HFC networks cover 75% of urban areas in 2023.
- Australia NBN hybrid cable passed 5 million premises by 2023.
- Canada Shaw (Rogers) cable plant upgrade cost CAD 1.2B in 2023.
- South Korea cable FTTH deployment reached 40% coverage 2023.
- Germany Vodafone cable gigabit homes passed 10 million in 2023.
- France SFR fiber/cable hybrid passed 20 million homes 2023.
- Italy Open Fiber cable integration covered 8 million in 2023.
- Spain Movistar HFC upgrades invested €800M in 2023.
- Netherlands KPN cable to fiber migration 60% complete 2023.
- Switzerland Swisscom cable capex CHF 1.1B in 2023.
- Poland Inea fiber passed 1 million homes in 2023.
- U.S. cable mid-split upgrades implemented in 25% of plants by 2023.
- Global active submarine cables numbered 546 in 2023.
- U.S. cable companies deployed 1.2 million nodes in 2023.
- Extended spectrum DOCSIS deployed to 40% of U.S. cable homes 2023.
Infrastructure and Investment Interpretation
Market Revenue and Growth
- The global cable TV market revenue reached $126.3 billion in 2023, driven by a 2.1% increase from 2022 due to premium content subscriptions and broadband bundling.
- U.S. cable operators generated $102.4 billion in video revenue in 2022, accounting for 45% of total multichannel video market share.
- Worldwide pay TV revenues including cable grew to $220 billion in 2023, with cable contributing 38% of the total amid streaming competition.
- Comcast's cable communications segment reported $56.3 billion in revenue for 2023, up 1.2% YoY from broadband growth.
- European cable market revenue hit €28.5 billion in 2022, with a forecasted CAGR of 3.4% through 2028 due to fiber upgrades.
- Cable broadband revenue in the U.S. reached $65.7 billion in 2023, representing 55% of total fixed broadband revenues.
- Charter Communications' revenue from cable services was $41.7 billion in 2023, boosted by 0.6 million mobile line additions.
- Asia-Pacific cable telecom market was valued at $45.2 billion in 2023, expected to grow at 6.1% CAGR to 2030.
- Latin America cable TV subscribers generated $12.8 billion in 2022, with 5% growth from digital migration.
- Altice USA's cable revenue stood at $8.9 billion in 2023, down 2% due to cord-cutting but offset by broadband.
- Global submarine cable market revenue was $15.2 billion in 2023, projected to $28.4 billion by 2030 at 9.2% CAGR.
- U.S. cable MSO EBITDA margins averaged 42.3% in 2023, highest among telecom segments.
- Cox Communications revenue from residential cable services was $13.4 billion in 2023.
- Cable One's revenue per customer was $1,892 annually in 2023, up 4.1% YoY.
- Midcontinent Communications cable revenue grew 3.2% to $1.1 billion in 2023.
- Global cable modem market revenue reached $12.7 billion in 2023, fueled by DOCSIS 4.0 deployments.
- UK's Virgin Media O2 cable revenue was £10.2 billion in 2023, with 2.5% growth from full-fiber rollout.
- Australia's Foxtel cable revenue declined to AUD 1.4 billion in 2023 amid streaming shift.
- Canada's Rogers cable segment revenue was CAD 14.3 billion in 2023, up 1.8%.
- India's cable TV market revenue was INR 1,200 billion in 2023, with 4.5% CAGR forecast.
- South Korea cable TV revenue hit KRW 5.2 trillion in 2023, stable despite IPTV competition.
- Brazil's cable market revenue grew to BRL 18.5 billion in 2023.
- Germany's Vodafone cable revenue was €9.1 billion in 2023.
- France's Numericable (SFR) cable revenue €4.8 billion in 2023.
- Italy's Fastweb cable revenue €2.3 billion in 2023.
- Spain's Telecable revenue €450 million in 2023.
- Netherlands Ziggo cable revenue €4.1 billion in 2023.
- Switzerland UPC cable revenue CHF 1.8 billion in 2023.
- Poland's UPC Polska cable revenue PLN 2.4 billion in 2023.
- U.S. cable ARPU for broadband was $68.45 in Q4 2023.
Market Revenue and Growth Interpretation
Subscriber and Penetration
- U.S. cable video subscribers totaled 59.3 million in Q1 2024, down 1.9% YoY.
- Comcast had 31.5 million broadband subscribers as of Q1 2024, up 334K YoY.
- Charter Communications reported 30.1 million Internet customers in Q1 2024.
- U.S. cable TV penetration rate fell to 42.5% of TV households in 2023.
- Global pay TV subscribers including cable reached 1.12 billion in 2023.
- Europe's cable broadband subscribers numbered 85 million in 2023.
- U.S. cable broadband penetration among households was 64% in 2023.
- Altice USA had 4.1 million broadband subs in Q1 2024, flat YoY.
- Cox Communications served 6.5 million broadband customers in 2023.
- Cable One had 1.1 million residential broadband lines in 2023.
- Virgin Media O2 had 5.7 million broadband customers in UK 2023.
- India's cable TV households reached 105 million in 2023.
- Brazil cable TV subscribers totaled 18.2 million in 2023.
- Australia cable TV penetration was 25% of households in 2023.
- Canada cable subscribers numbered 7.5 million for video in 2023.
- South Korea cable TV subs were 12.3 million in 2023.
- Germany's Unitymedia cable broadband subs 8.9 million in 2023.
- France SFR cable subs 5.2 million broadband in 2023.
- Italy Fastweb fiber/cable subs 2.8 million in 2023.
- Spain cable penetration 35% of broadband homes in 2023.
- Netherlands Ziggo 3.2 million broadband subs in 2023.
- Switzerland Sunrise UPC 1.4 million cable broadband subs 2023.
- Poland Netia cable subs 1.1 million in 2023.
- U.S. Hispanic cable penetration rate 55% in 2023.
- Rural U.S. cable broadband subs grew 2.1% to 12.4 million in 2023.
- Urban cable video subs declined 3.2% to 45.7 million in 2023.
- Senior households cable penetration 68% in U.S. 2023.
- Millennial cord-cutters reduced U.S. cable subs by 1.5 million in 2023.
- Total U.S. MVPD video subs including cable 70.1 million Q1 2024.
- Global submarine cable landing stations serve 1.4 billion users indirectly in 2023.
- Worldwide cable TV households 850 million in 2023.
- U.S. total broadband subs 128 million, cable share 58% in 2023.
Subscriber and Penetration Interpretation
Technology and Speeds
- Average U.S. cable download speed hit 487 Mbps in Q4 2023.
- DOCSIS 3.1 adoption reached 75% of U.S. cable modems by 2023.
- Global cable gigabit broadband availability 55% of passed homes 2023.
- Comcast Xfinity multi-gig speeds over 2 Gbps to 20 million homes 2023.
- Charter Spectrum gigabit+ to 50% of footprint by end-2023.
- DOCSIS 4.0 trials achieved 10 Gbps symmetric in lab 2023.
- Europe cable average speed 350 Mbps in 2023.
- Submarine cables transmit at 25.6 Tbps per fiber pair on new systems 2023.
- Cox Panoramic Gateway modem supports 2.5 Gbps DOCSIS 3.1 in 2023.
- Cable One Sparklight offers 2 Gbps speeds to 80% customers 2023.
- Virgin Media Gig1 fiber-cable hybrid 1.1 Gbps average in 2023.
- India cable digital set-top boxes enabled 4K UHD in 60% homes 2023.
- Brazil Claro DOCSIS 3.0 speeds avg 200 Mbps in 2023.
- Australia Telstra cable HFC avg 100 Mbps peak 2023.
- Canada Rogers Ignite 1.5 Gbps to 5 million homes 2023.
- South Korea cable IPTV hybrid 500 Mbps avg 2023.
- Germany PŸUR (Vodafone) 1 Gbps cable to 15M homes 2023.
- France Freebox Delta 8 Gbps symmetric cable trial 2023.
- Italy Vodafone cable DOCSIS 3.1 1 Gbps rollout 2023.
- Spain Euskaltel 1 Gbps HFC in Basque region 2023.
- Netherlands Ziggo 1 Gbps to 90% customers 2023.
- Switzerland UPC 10 Gbps trial success 2023.
- Poland Vectra 1 Gbps cable speeds nationwide 2023.
- U.S. cable upload speeds avg 50 Mbps with mid-split 2023.
- Low latency DOCSIS for gaming <20ms in 40% U.S. plants 2023.
- Cable Remote PHY (RPHY) nodes deployed in 30% U.S. HFC 2023.
Technology and Speeds Interpretation
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