The economic impact of cable on the U.S. economy in 2020 approached a half-trillion dollars, according to a new impact report.
The report, commissioned by NCTA-the Internet & Television Association, looked at "the direct and indirect impact of the cable operator industry on employment, personal income and gross output in 2020" and concluded it was approximately $460 billion and accounted for over 2.9 million jobs.
The report said cable operator revenue in 2020 was more than $141 billion and the industry provided direct employment to 255,600 people, whose compensation totaled close to $26 billion.
And for those counting, and cable operators certainly are, the industry contributed $3.5 billion in state and local fees.
Cable's economic impact is spread through major sectors, with the largest private sector impact on manufacturing.
That is all according to a report from the Bortz Media & Sports Group, which combined reviews of public financial documents, surveys of large and small MSOs (respondents represented operators with more than two-thirds of subs nationwide), and reviews of secondary source data.
"The decades of investment and innovation made by the cable industry have resulted in the fast and robust broadband services and rich entertainment programming that millions of Americans rely on and enjoy every day," NCTA said of the report.
