Earlier this month the research group BroadbandNow released a new study that looked at the average costs of home internet. The most interesting part of this report was that it shows how Americans with more than one internet option pay less for internet.
According to this report, Americans with just 1 Internet provider pay an average of $68.38 a month but if you are one of the 15 million lucky Americans to have 5 or more internet providers you pay an average of $46.59 a month for home internet.
Here is the full break down of the average monthly price when looking at the number of internet providers.
- 1 Internet Provider $68.38
- 2 Internet Provider $59.14
- 3 Internet Providers $58.83
- 4 Internet Providers $56.27
- 5 Internet Providers $46.59
This is why new internet options like 5G, fixed wireless, and low earth orbit satellite internet are so exciting. As cord cutting on TV grows the ability to have multiple internet options could launch the next phase of cord cutting. Cutting the cord on home internet.
The savings by having more internet options works out to be a savings of $21.79 a month or $261.48 a year if you have 5 providers in your area. Over the next 10 years, that works out to $2,614.80 savings. Combine that with the average American’s cord cutting savings of $85 a month and now you are saving $106.79 a month. Over the course of a year, you are now saving $1,281.48 a year.
For now, 5G, fixed wireless, and low earth orbit are still in the early stages. Look for them to pick up speed in 2019 and through 2020 giving more Americans more internet options.
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