How much are you willing to pay for internet service?

Viable options for satellite based internet service are getting closer! I read this piece from Jon Brodkin of Ars Technica on a peaceful Sunday morning and had a quick vision of internet service competition driving price down like what we’ve seen with cell phone service over the past several years.  Has Internet service become a consumer staple? You tell me if internet service matches this definition of consumer staple from Investopedia:

These goods are those products that people are unable—or unwilling—to cut out of their budgets regardless of their financial situation.Consumer staples are considered to be non-cyclical, meaning that they are always in demand, year-round, no matter how well the economy is—or is not—performing. As such, consumer staples are impervious to business cycles. Also, people tend to demand consumer staples at a relatively constant level, regardless of their price.

But internet competition is light to non-existent depending on your address. At my home, I have broadband options from Spectrum or traditional DSL. AT&T fiber internet isn’t available. Verizon Fios isn’t available to me either. 

Since I cut the cable TV subscription a few years ago my monthly internet fee has increased twice. But I’ve been ok with it because I know this is one utility that is heavily used every day. I consider the value my family receives to be worth the monthly price.

But I do wonder what internet service would cost if everyone had four or more providers with enough bandwidth to support at least basic video streaming. With competition and availability, monthly service prices should come down. It wouldn’t surprise me to see internet providers start to bundle content with their services like what T-Mobile has done with Netflix. 

So how much are you willing to pay for internet service? What do you think is a fair price for monthly internet based on the value you receive from it?

Onward and upward!