For many Americans, more and more time is now spent online between work, school and entertainment. Fortunately, prices are going down for consumers while at the same time providing a significant value as people are using the service even more. With demand continuing to rise, cable providers will continue to invest heavily to upgrade and improve their networks to ensure that America’s broadband will be ready for whatever innovations the future brings.
As broadband kept Americans connected over the past year, the real price of internet service fell by 2.7% according to the Bureau of Labor Statistics’ Consumer Price Index.
As internet speeds have surged, the cost of cable’s broadband service has declined by 98% when comparing the price per megabit today versus 15 years ago. Today the cost per megabit is only 61 cents. This is a significant value as consumers use more and more data-intensive applications such as video conferencing, telehealth sessions, and video streaming services.
Cable internet providers offer affordable, low-cost broadband adoption plans like Connect2Compete and Internet Essentials so that everyone can get online. In fact, over the last decade, more than 14 million customers connected to the internet via these discounted offerings. These low-cost programs offer broadband service for as low as $9.95 a month and often provide qualifying households free connected devices or digital literacy training for every member of the family.