Cable began offering wireless service in 2017 with Comcast’s MVNO launch, followed by Charter in 2018 and Altice in 2019. Today cable has 6.0m customers (vs. our July 2019 forecast of 5.7m exiting 1Q21) or about 3% of the postpaid phone market, and took 10% of gross adds but 35% of industry net adds in 2020, up from 7%/29% in 2019. Cable offers leverage each company’s wholesale cellular agreement with a wireless carrier as well as their public and in-home WiFi networks, and we expect cable will eventually deploy targeted cellular networks to drive higher margins.