Institutional research on U.S. broadband and fixed-mobile convergence
Independent quarterly reports and targeted analysis for TMT equity analysts, infrastructure investors, and credit funds — built on original data synthesis and 30+ years of inside-operator experience.
FMC State of the Market
A structured quarterly report covering the full competitive landscape of U.S. broadband — synthesizing FCC Broadband Data Collection, Ookla Speedtest Intelligence, and operator financial disclosures into a single investment-grade framework. Written for analysts who need to understand not just what the numbers show, but why they happen.
Why BTC research is different
Sell-side analysts see the financial results. BTC research explains why they happen — from the network up.
Inside-operator perspective
Analysis informed by direct experience at Charter, NCTA, and Sandvine — not abstract modeling from the outside looking in.
Original data synthesis
FCC BDC, Ookla Speedtest Intelligence, and operator disclosures combined into a single analytical framework unavailable elsewhere.
No vendor affiliation
Fully independent. No product to sell, no client to protect. Analysis follows the data, not a narrative.
Investment-grade framing
Written for investors and analysts — with explicit implications, scenario analysis, and operator-level differentiation throughout.
Latest research
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Quarterly ReportFMC State of the Market — Q1 2026Full-cycle competitive analysis of U.S. broadband: market structure, operator performance, FWA capacity constraints, and convergence outcomes.April 2026
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