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What is fast and reliable internet worth? We're breaking down the cost and benefits.
These days it seems like our lives revolve around the internet. Whether you use it for work, school or pleasure, having ...
These days it seems like our lives revolve around the internet. Whether you use it for work, school or pleasure, having a fast and reliable internet connection is more valuable than ever before. We’ve broken down why prices and speeds change, how All West determines the cost of your internet and how internet brings added value to your community.
Why Speeds Change
The main value of internet lies in its speed and price. The speed of internet is always changing as demands for lightning-fast internet grow, and demand is going to continue to rise. An internet provider’s infrastructure is what’s able to handle fast internet speeds. Take a look at the history of internet speed. In around 40 years, we’ve been able to go from kilobits per second (kbps) to megabits per second (Mbps) speed. That’s 1,000 times faster than before! Now, internet service providers are even able to offer speeds up to 1 gig! As knowledge of the internet and its infrastructure grow, speeds can grow as well. That’s why you might see your available speeds increase. We want to make sure to offer the best speeds we can to each community we serve.
When internet speeds change, the price changes as well. New technology is always more expensive when it first hits the market. For example, what you paid for 500 Mbps a few years ago, might be cheaper now. This is because we are able to lower our prices as internet speeds become more streamlined in the areas it’s available in. All West believes in giving the best deal we can to customers, which is why our speeds and prices change over the years.
How Price is Determined
Like mentioned, new technology is always more expensive because, well… it’s new! You might’ve noticed when companies introduce shiny, new technology, the cost can be steep. The longer something is on the market and the more customers adopt it, the lower the cost becomes.
This is something called the “economies of scale.” An economy of scale happens when increasing the scale of production decreases long-term average costs. In other words, when more product is produced, the cost of it can be lower because there’s more of it available to more people.
Why Reliable Internet Matters
The internet can benefit people in a variety of ways. Good internet brings both economic and social growth to areas. Economic growth can come in the form of more jobs being available, homes having a higher value and better education in schools and at home. US Telecom reports that around 66% of all rural jobs are created when small businesses take advantage of the internet to expand, grow and hire. In a study conducted by researchers at the University of Colorado at Boulder and Carnegie Mellon University, homes where 1 Gig was available, saw sales prices 7% higher than for homes in the same area that only had speeds of 25 Mbps or lower.
Social growth happens as people are able to connect through the use of the internet. Families can video-chat with long-distance relatives and friends are able to stay connected through social media platforms. According to a study by Ericsson ConsumerLab, “the ability to have continuous contact throughout the day with other family members increases the feeling of closeness and happiness.” The opportunities for growth are endless when communities can access quality internet.
As stated in the 2020 Census report, 82.7% of households in the United States have broadband internet subscriptions. Having access to the internet is life-changing. Communities are able to thrive when quality internet becomes available to them. When you pay for your internet service, you’re allowing your internet service provider to improve its services. Your monthly bill payments allow you to apply for jobs, work from home, access the news, communicate with others and so much more. That makes the internet worth it.
Life would be different without constantly evolving internet service. Fast and reliable internet is worth more than money. It’s not just about what speeds you can get and what it costs. It’s about the impact it can have on you and the community around you. Our prices and speeds are set to make your life easier, so sit back and enjoy All West’s quality internet as 2022 begins!