NCTA-The Internet and Television Association is pointing to a new report that shows the cable industry had a $450 billion impact on the U.S. economy in 2018.
According to the report – assembled by the Bortz Media and Sports Group – the total marks a $29 billion increase over the impact measured for 2017. The report accounts for factors including next-generation broadband infrastructure, programming and the millions of jobs needed to build, create, and deliver pay TV and broadband services.
Bortz said the cable industry collectively accounts for a total of 3 million American jobs, and has added more than 1.2 million direct and indirect jobs since 2002. Cable operators alone employ at least 300 people in every congressional district in the country.
The report broke out numbers specific to the cable operator business, which in 2018 posted revenues totaling $131 billion and provided direct employment to 264,100 people. Since 2002, direct and indirect employment attributable to the cable operator industry has increased by more than 1.2 million jobs.
Program network revenues in 2018 totaled $90 billion, and the industry segment provided direct employment to 61,000 people – an increase of about 27,000 jobs since 2002, according to the report. The industry’s employment impact has increased by 530,000 jobs in the last 11 years.
“When analyzing economic impact across the national map, the cable industry isn't confined to the coasts or urban centers. In fact, some industries have never set foot in the communities that cable has served for years—communities where it is continuing to invest in robust broadband networks and in providing quality jobs,” wrote NCTA in a blog post.