Wall Street: Joe Biden’s Mass Migration Helped Wireless Companies Score 1.6 Million Migrant Subscribers Last Year
President Joe Biden’s mass migration policies helped drive 1.6 million new migrant subscribers to wireless companies, Wall Street analysts say in documents exclusively reviewed by Breitbart News.
The documents reveal that Biden’s policies, which brought nearly 8 million migrants to the United States in just 4 years, were a boon for the big three wireless companies, with analysts noting that “illegal immigration has driven a 20-percent boost in net additions of customers for big three carriers over the past several years.”
In Biden’s last year in office, “1.6 million, or 19 percent of the 8.5 million growth in postpaid + prepaid phone subscribers in 2024 came from immigration,” one such analyst reveals, with “close to 90 percent” of Verizon, AT&T, and T-Mobile’s excess subscriber additions from 2022 to 2024 due to more immigration.
T-Mobile, in particular, relies on prepaid plans from low-income migrants to drive profits. Migrants prefer such prepaid plans because credit checks are not required and, often, ID checks are not conducted.
“… postpaid phone net additions from immigration in recent years has been minimal, and instead the prepaid segment have [sic] seen the biggest tailwinds from immigration,” an analyst writes.
“Our optimistic view on wireless industry growth was driven by our work on several underlying drivers of that growth — specifically — natural population growth, net migration (legal and illegal),” a Wall Street analyst notes, writing that potentially 30-40 percent of newly arrived migrants do not have phones and thus make for the best new source of customers for Verizon, AT&T, and T-Mobile.
With the election of President Donald Trump, such Wall Street analysts are warning that less immigration and mass deportations will be a drag on their profit margins and force strategists to look for new customers elsewhere.
“As population growth slows, so will wireless subscriber growth. Deportations could exacerbate the pressure,” an analyst writes. “Taken together, changes in immigration policy could have a profound impact on subscriber growth.”
Insiders tell Breitbart News that as a result of Trump’s election, lobbyists for Verizon, AT&T, and T-Mobile are looking to pressure lawmakers into a spectrum auction as their profits through routes like immigration dry up.
Sen. Ted Cruz (R-TX), insiders said, is specifically being lobbied by wireless companies on the plan and has worked on a bill to require the FCC to auction at least 1,250 megahertz of spectrum for full-power commercial wireless services within a 6-year period.
“The Commerce Committee, as we take up reconciliation, will move forward on spectrum. It would be an abdication of our responsibility to do anything otherwise,” Cruz said last month.
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
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