As the FCC opens up the Emergency Broadband Benefit Program for applications, doxoINSIGHTS data shows that given the average household pays $116/month for Cable & Internet, the program can save eligible participants up to 43% a month on these bills
doxo, the innovative web and mobile bill pay service, today released its U.S. Cable & Internet Market Size and Household Spending Report for 2021, revealing that Americans spend $147 billion annually on Cable & Internet bills. A statistical analysis of actual household payments toward Cable & Internet bills was used to size the market and amount spent per household across 37,000+ (90%) U.S. zip codes. The report found that the 82% of U.S. households with a Cable & Internet bill spend $116 per month, or $1,392 per year – or $1,141 per year when averaging across all U.S. households. The report also breaks out the U.S. household spending market size; percentage of households that pay each bill; and average monthly and annual bill pay costs by state, largest metro areas and cities based on population.
As many people worked from home over the past year, they needed to adjust the amount spent on Cable & Internet to meet their increased usage needs. doxoINSIGHTS’ U.S. Cable & Internet Market Size and Household Spending Report is particularly timely given the recent launch of the FCC’s Emergency Broadband Benefit program, which will provide a subsidy of up to $50 per month for Internet service for those who qualify. Given that the average household in the U.S. spends $116 per month on Cable & Internet, this benefit could cut consumers’ monthly bill in half, saving them up to 43% per month and upwards of $600 per year.
How the FCC’s Emergency Broadband Benefit Program Will Help Reduce Consumer Spend on Monthly Cable & Internet Bills
Average Household Spend
per Month on Cable/Internet
Adjusted Average Spend
With $50 Emergency
Percentage Saved Per Month
with Emergency Broadband
To learn how the Emergency Broadband Benefit Program will benefit consumer spend on monthly Cable & Internet Bills broken down by U.S. State and top 25 U.S. Metro area, please see here.
"doxoINSIGHTS’ Cable & Internet Market Size and Household Spending Report leverages our proprietary dataset to help make the U.S. bill pay economy transparent and understandable for all," said Jim Kreyenhagen, VP of Marketing and Consumer Services at doxo. "Alongside our app—which simplifies the task of staying on top of bills to help improve financial health—these reports support doxo’s ongoing mission to empower our consumer users, billers, and financial service providers alike to make better decisions."
The doxoINSIGHTS 2021 U.S. Cable & Internet Market Size and Household Spending Report Findings
doxoINSIGHTS leverages doxo’s unique, aggregate, anonymized bill pay data comprised of actual bill payment activity to confirmed household service providers across the country. The U.S. Cable & Internet Market Size and Household Spending 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, largest metro areas and cities based on population. Key findings include the following:
Total Market Size: $147 billion spent per year
Average Monthly/Annual Cost: $116 spent per month; $1,392 spent per year
Percent of Households: 82% of U.S. households pay Cable & Internet bills
Average Annual Cost per U.S. Household: $1,141 per year*
Percent of Annual Income: Cable & Internet bills amount to 2% of consumers’ income per year
States with the Highest Cable & Internet Bills
% of Households w/ Bill
Access Cable & Internet Household Bill Pay Data for all 50 states here.
Metro Areas With the Highest Cable & Internet Bills
% of Households w/ Bill
Access Cable & Internet Household Bill Pay Data for the Top 25 Metro areas here.
For more information, or to view the entire report, visit www.doxo.com/insights/.
*Average Monthly Bill x % of Households with Bill x 12 months per year = Average Annual Cost per U.S. Household.
doxoINSIGHTS provides direct insight into household financial health and spending activity 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 5 million paying consumers across over 90% of U.S. zip codes. doxo’s payment network covers over 100,000 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.
doxo provides simple, secure all-in-one bill payment to any biller, with any payment method, on any device. A doxoPLUS subscription adds free bank payments and five essential financial protections that boost household financial health. Through these services, doxo currently serves over five million paying users who can make payments to over 100,000 local and national businesses, making doxo the largest bill pay directory in the nation. Billers on the network get paid directly, fast and free – and consumers have complete bill pay independence over when and how they pay their bills. doxo expanded its user base by more than 70 percent in the past year and is expanding its team to further accelerate growth and change the bill pay landscape to focus on the customer. doxo investors include MDV, Sigma Partners, and Bezos Expeditions. doxo is based in Seattle, WA. For more information visit www.doxo.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210518005827/en/
Dotted Line Communications for doxo