The cable industry supports 2.9 million jobs with an economic impact of $421 billion.
That is according to an economic impact study by Bortz Media and Sports Group commissioned by NCTA–The Internet & Television Association.
Job creation is one of the gold standards of the Donald Trump Administration, which looks at policy through the prism of business.
“Whether its building the powerful broadband networks that are transforming our lives or creating the award-winning TV that is entertaining us, this industry continues to be one of the most significant contributors to our nation’s economy,” said Michael Powell, president and CEO of NCTA–The Internet & Television Association. “We are not only an American industry with employees in every corner of the country but we employ people of all different skill levels and backgrounds, providing important jobs for hard working citizens everywhere.”
Cable has already gotten a shout-out from the President—specifically Charter—for repatriating call center jobs, something it had signaled back when it bought Time Warner Cable.
NCTA spotlighted the job creation by congressional district, saying that the industry employed at least 300 people in each congressional district, with some sporting more than 2,000.
The study found that the industry had added more than a million jobs in the past decade and that total personal income from the 2.9 million job total was $152 billion.
The study found that the industry had invested a quarter of a trillion dollars in infrastructure over the past 20 years, resulting in service to over 100 million homes with average peak connection speeds of 50 Mbps.
It also said spending on basic cable programming was $38.2 billion in 2016, with the top ten networks accounting for an average $1.5 billion apiece of that total.
To check out an interactive map of cable TV investment and job creation by state, go here.
(Photo via Pictures of Money's Flickr. Image taken on Sept. 17, 2015 and used per Creative Commons 2.0 license. The photo was cropped to fit 9x16 aspect ratio.)
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below
Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.