Cable Industry Contributes 2.7 Million Jobs and $386 Billion to the Economy, New Study Reports
WASHINGTON, D.C. – The U.S. cable industry supports 2.7 million jobs representing a total economic impact of more than $386 billion in 2014, according to a new study by Bortz Media and Sports Group, Inc. released today by the National Cable & Telecommunications Association (NCTA). The executive summary of the report, an interactive map showing the economic impact, and complete study results are available at www.ncta.com.
The report notes that over the last decade, the U.S. cable industry has made significant contributions to the economic health and vitality of the United States. Through a commitment to quality products and services, plus capital investments that annually eclipse tens of billions of dollars, the cable industry continues to be a leader in offering consumers both infrastructure and content that is enabling a transformation in information, entertainment and connectivity.
The cable industry’s expansion continues to have a significant positive impact not only on the national economy and workforce, but also on the millions of consumers and businesses that utilize its growing list of innovative services and features, the report also concludes.
Some key findings from the study:
- Employment. There are at least 300 cable industry employees in each U.S. congressional district – and more than 2,000 cable employees in some districts.
- Job growth. Since 2002, employment attributable to the cable industry has increased by 1.25 million jobs
- Income. Personal income earnings to cable industry employees totals $116 billion.
- Infrastructure investment. The cable industry has led the development of the country’s broadband infrastructure, investing more than $230 billion since 1996. Cable’s Internet services are available to over 100 million U.S. homes with average peak connection speeds exceeding 30 Mbps in all 50 states.
- Boosting the economy. Cable’s economic impacts are spread throughout all major sectors of the U.S. economy. Top cable companies have been recognized as “Investment Heroes” for their strong commitment to domestic capital investment even as the economy struggled through its recovery. With a total economic impact of $386 billion, all major sectors of the U.S. economy benefit from cable’s continued growth.
- Local economies. In 2014, franchise fees paid to local municipalities totaled over $2.4 billion. In addition, subscriber taxes and fees added $3.4 billion in revenues to state and local government coffers.
- Social responsibility. The industry’s total cash and in-kind donations were more than $1 billion in 2014.
Results from the complete study, including economic and job data by state and congressional district, is available with an interactive map on NCTA's web site.