For ISPs worried about how speeds and pricing are impacting churn, Parks Associates has put out a new study showing that that 9% of U.S. broadband homes switched high-speed Internet providers in the last year, and 35% of them selected a new provider in order to get faster speeds.
Meanwhile, just 18% of those consumers witched because a rival ISP offered a lower price at a comparable speed, the research firm found. A sizable portion of consumers also did so in order to get a “better bundle.” The fewest number selected another ISP because it offered a lower price with a slower speed.
Parks Associates said the trend shows how important a good, speedy broadband connection has become for consumers in the age of over-the-top video and digital media, even if almost half of them don’t even realize what kind of speeds they’re actually paying for.
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