doxo reveals that Americans spend a total of $156 billion a year on Cable & Internet services; breaks down the most expensive states and cities by spend in the U.S.
A new report released today from doxo reveals that Americans spend an average of $1,186 per year on Cable & Internet services, up 3.4% from last year. Through a statistical analysis of actual household payments toward mobile phones across 97% of U.S. zip codes, doxoINSIGHTS’ Cable & Internet Market Size and Household Spend Report for 2024 sized the overall market, revealing that Americans spend $156 billion annually on Cable & Internet. The findings uncover that 81% of U.S. households with a Cable & Internet bill spend $122 per month, or $1,464 per year – which equates to $1,186* per year when averaging across all U.S. households.
doxoINSIGHTS’ statistical analysis of actual household payments toward Cable & Internet bills across 97% of U.S. zip codes helped to size the overall market. The report breaks out the household spending market size; percentage of households that pay each bill; and average monthly and annual bill pay costs by state, as well as the 50 largest U.S. cities (based on the number of households), and those cities with 40k or more residents. Key findings include:
- Total Market Size: $156 billion spent per year
- Average Monthly: $122 spent per month
- Percent of Households: 81% of U.S. households pay Cable & Internet bills
- Average Annual Cost per U.S. Household: $1,186 per year*
- Percent of Annual Income: Cable & Internet bills amount to 2% of consumers’ income per year
Compared with doxo’s 2023 analysis of the $152 billion Cable & Internet market (finding consumers pay $118 per month, $1,161 per year), Americans may have seen a slight increase in their Cable & Internet bills due to hidden fees and lack of regulation from the government on local and national levels, allowing providers to control the rate increases. As streaming services continue to pump out content and Cable prices continue to increase, along with other household bills, the future of traditional television watching is waning with changing consumer behaviors and preferences.
“Cable and Internet bills have become standard expenses for most American households, with eight in ten American adults saying they subscribe to home broadband service,” said Liz Powell, Senior Director of INSIGHTS at doxo. “Yet many Americans don’t understand how greatly those bills can vary based on factors including speed, data usage, and equipment fees, in addition to subscription services. 46% of Americans were worried about their ability to pay their cable and internet bill, according to recent doxoINSIGHTS findings, one of the top three bills they were concerned about. The more consumers are informed about how they use their Internet and Cable, the more likely they are to be able to negotiate a cost-effective plan that works for their household.”
States with the Highest Cable & Internet Bills
State |
Monthly Amount |
Average Annual
|
% of Households
|
% Higher than
|
$156 |
$1,292 |
69% |
28% |
|
$153 |
$1,542 |
84% |
25% |
|
$150 |
$1,314 |
73% |
23% |
|
$139 |
$1,134 |
68% |
14% |
|
$136 |
$1,110 |
68% |
11% |
Access Cable & Internet Household Bill Pay Data for all 50 states here.
Largest U.S. Cities With the Highest Cable & Internet Bills
U.S. City |
Monthly Amount |
Average Annual
|
% of Households
|
% Higher than
|
$151 |
$1,504 |
83% |
24% |
|
$147 |
$1,535 |
87% |
20% |
|
$145 |
$1,531 |
88% |
19% |
|
$145 |
$1,375 |
79% |
19% |
|
$135 |
$1,474 |
91% |
11% |
Access Cable & Internet Household Bill Pay Data for the 50 biggest U.S. cities here.
For more information, or to view the entire report, visit https://www.doxo.com/w/insights/.
*Average Monthly Bill x % of Households with Bill x 12 months per year = Average Annual Cost per U.S. Household.
About doxoINSIGHTS
doxoINSIGHTS provides direct insight into The Bill Pay Economy™ by leveraging consumer surveys and doxo’s unique aggregate bill pay data set, comprising actual bill payment activity to confirmed household service providers across the country. doxo data brings together the broadest available data set for analyzing actual household bill payment activity, pulling from over 10 million paying consumers across over 97% of U.S. zip codes. doxo’s payment network covers over 120,000 billers in 45 different service categories and enables payments using bank accounts, credit cards or debit cards. This uniquely broad statistical foundation powers doxoINSIGHTS reports – uncovering key trends for household financial health and bill payment behavior. Uncovering an even deeper level of insight into Americans’ cost of living, doxo’s proprietary Cost of Bills Index™ (COBI), a new feature of doxoINSIGHTS, provides a consistent basis of comparison at the state, county and city level.
About doxo
doxo delivers innovation that transforms the bill pay experience for consumers, billers and financial technology providers. For over 10M consumers, doxo’s all-in-one bill pay makes it simple to organize and pay any bill on any device through a secure checkout. For billers, doxo’s network-driven platform enables online and mobile payments with a ridiculously simple integration, radically lower costs, and game-changing features that are unavailable with legacy bill pay vendors. For fintech partners, doxo delivers financial innovations to consumers across 97% of US Zip Codes, paying from more than 5,000 financial institutions to over 120,000 billers in 45+ service categories. For employees, doxo is a creative, ever-learning team that is passionate about building fintech tools that dramatically improve the bill pay experience. For investors, doxo provides an extraordinary opportunity to invest alongside Jackson Square Ventures, MDV, and Bezos Expeditions to disrupt a market that accounts for over $4T of US Household spend. To learn more about America’s leading bill pay network, visit doxo.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241113019553/en/
Contacts
Press Contact
Dotted Line Communications for doxo
Jenny Davis
press@doxo.com
