Competition has increased significantly for home internet. T-Mobile and AT&T are dominating port out activity thanks to 5G and fiber overbuilds. Even Verizon Wireless has joined the party with their wireless home internet offering. Cable is busy swimming upstream.

While all retail business are at risk from a slowing consumer, Amazon, thanks to Prime, has the best customer base to help weather the storm. Prime customers skew richer and younger. Amazon Prime scores highest in customer satisfaction amongst subscription services, and our data shows that even with the recent price increase, customers refuse to churn.

The U.S. clearly needs to get more people into the workforce as, despite low unemployment, the Labor Force Participation Rate (62.3%) remains below the pre-Covid levels of February 2020 (63.4%). In fact, that labor participation figure has actually dipped since earlier this year. We think there are encouraging signs emerging that this is about to change which should lead to a looser labor market… just what the Fed wants to hear.

Even though program quality remains middle of the pack, an advertising tier can help regain subscriber momentum and password sharing mitigation shows meaningful ARPU lift potential.