About BroadbandSignals

Independent intelligence,
built from inside
the industry.

BroadbandSignals is an independent research and advisory practice focused on U.S. broadband markets and fixed-mobile convergence — produced by analysts who have operated inside these networks and studied how households adopt them.

Mission

Independent intelligence for broadband and wireless markets.

BroadbandSignals exists to fill a persistent gap in market coverage: analysis that connects network architecture and regulatory dynamics to competitive structure and financial outcomes.

Our research integrates technical infrastructure analysis, geospatial market segmentation, and behavioral demand-side frameworks — disciplines that are rarely combined in a single research product.

BroadbandSignals serves institutional investors, strategic operators, and advisors who need research grounded in how these networks actually work and how households actually adopt them.

The research team

Two disciplines. One integrated framework.

BroadbandSignals combines 30+ years of operator infrastructure experience with doctoral-level expertise in technology adoption and consumer behavior — the technical and the behavioral, integrated into every report.

MJT
Matthew J. Tooley
Principal · Infrastructure & Competitive Strategy

30+ years of operating experience across U.S. telecommunications infrastructure spanning cable, wireless, broadband equipment, policy, and startup leadership. Research focuses on fixed-mobile convergence, operator competitive strategy, and broadband technology evolution.

Fixed-mobile convergence Network architecture Operator strategy Regulatory policy FWA
MBA · University of Chicago Booth School of Business
CGS
Carla G. Surratt, PhD
Principal · Behavioral & Demand-Side Analysis

Doctorate in Sociology from Arizona State University. Specializes in technology adoption, consumer behavior, and the societal impacts of communications platforms. Informs the demand-side, household-level, and behavioral frameworks used throughout BroadbandSignals research.

Technology adoption Consumer behavior Demand-side analysis Household dynamics Sociology
PhD, Sociology · Arizona State University
Matthew J. Tooley — career background
Charter Communications
2023 – 2025
2 years
Vice President, WiFi Engineering
Led Spectrum’s Advanced Wi-Fi CPE Engineering organization overseeing firmware, hardware, and cybersecurity programs for customer-premise equipment. Directed launch of the industry’s first Tier-1 ISP Wi-Fi 7 gateway, led development of Spectrum’s Invincible Wi-Fi 7 gateway featuring cellular and battery backup, and delivered Spectrum’s Wi-Fi 7 Extenders program.
NCTA
2012 – 2023
11 years
Vice President, Broadband Technology
For nearly 11 years, Matt served as the principal technical policy voice for the U.S. cable industry — working at the intersection of network engineering, regulatory policy, and competitive market structure. That vantage point — inside the industry’s central trade body, engaging Congress, the FCC, NTIA, DHS, NIST, and CISA on broadband and cybersecurity policy — provides direct insight into how regulatory decisions translate into network investment, operator strategy, and market outcomes. That experience is foundational to how BroadbandSignals approaches competitive analysis: not from the outside looking in, but from someone who shaped the policy environment these operators navigate.
Sandvine
2007 – 2012
5 years
Vice President, Global Services
At Sandvine, Matt led the global team responsible for deploying, configuring, and operationalizing deep packet inspection and traffic management equipment inside the networks of Tier-1 carriers across North America, Europe, Asia, and the Middle East. In practice, that meant sitting inside operator NOCs and engineering teams — understanding how carriers actually manage traffic, enforce policy, and make capacity decisions under real network load. Leading a 150+ person organization across those engagements built a granular, operator-eye-level understanding of how network architecture decisions get made, what drives technology substitution, and how vendors and operators negotiate around infrastructure constraints. That ground-level visibility into how carriers actually run their networks — not how they describe them in earnings calls — is a core input into how BroadbandSignals analyzes competitive infrastructure strategy.
CableMatrix Technologies
2005 – 2007
2 years
Co-Founder & CTO
Co-founding CableMatrix meant building — from scratch — one of the cable industry’s first platforms for managing broadband service policy at the network edge: controlling how bandwidth was allocated, prioritized, and enforced across residential and commercial subscribers. As CTO, Matt led the technical architecture and product strategy while working closely with the CEO on venture fundraising and company strategy — engaging institutional investors including Intel Capital, Veritas, Walden Israel, and EnerTech Capital on the market thesis that how operators manage and monetize network capacity is as strategically important as the infrastructure itself. That fundraising experience — translating complex network architecture into investment theses, and stress-testing market assumptions with sophisticated capital allocators — is directly relevant to how BroadbandSignals frames research for institutional investors today. The acquisition by Sandvine in 2007 validated both the technology and the strategic bet. Building at that intersection of engineering, market strategy, and investor communication gave Matt a foundational perspective that most technical analysts and most financial analysts separately lack.
Xinnia Technology
2004 – 2005
1 year
Co-Founder & CTO
Before CableMatrix, Matt co-founded Xinnia Technology to solve a problem that was emerging at the heart of the cable industry’s broadband business: how to dynamically allocate and sell bandwidth as a managed service, rather than as a fixed-tier product. The market insight — that operators would need granular, real-time control over how bandwidth was packaged and delivered — proved correct ahead of its time. Within 12 months of founding, Xinnia had progressed from concept to active lab trials with four of the top five North American cable operators, validating both the technology and the commercial thesis with the industry’s largest players. That trajectory — identifying a structural shift in how networks would need to operate, building the technology to address it, and getting it in front of the market’s most demanding buyers before the market fully understood the problem — reflects the same analytical instinct that drives BroadbandSignals research: seeing where the competitive and technical pressures are building before they show up in the headline numbers. Merged with CableMatrix in 2005.
3COM, Tellabs, Teradyne
1998 – 2004
6 years
Broadband Infrastructure Engineering
The commercial broadband buildout of the late 1990s and early 2000s pulled Matt’s protocol and systems engineering background directly into the emerging cable infrastructure market. At 3COM he worked on DOCSIS CMTS software — the cable industry’s foundational broadband delivery platform. At Tellabs he moved into DOCSIS and PacketCable platforms as the industry began building the service layer on top of broadband infrastructure. At Teradyne he worked on broadband test systems, developing an understanding of how network performance is measured, validated, and certified at the operator level. Taken together, these three roles represent a ground-floor immersion in the technical architecture of the cable broadband network as it was being built — before fixed-mobile convergence was a market thesis, before FWA was a competitive threat, and before the infrastructure decisions made in that era became the competitive constraints analysts now study. BroadbandSignals research is informed by someone who was inside those engineering decisions when they were made.
Hypercom
1994 – 1998
4 years
Network Systems Division — Embedded Software & Protocol Engineering
At Hypercom’s network systems division, Matt moved from firmware development into full protocol stack engineering — writing the complete X.25 suite from scratch, including X.25 switch, X.3 PAD, and Bisync-to-X.25 transport over frame relay, and co-developing the full link state router engine. This was not integration or configuration work — it was building the core protocol architecture that enterprise networks ran on. The culmination of that work was the design and deployment of the X.25 suite with the full link state router engine for one of the largest global enterprise financial networks in the world: HSBC. That deployment — production infrastructure for a global Tier-1 financial institution, built on protocol stack code Matt wrote — established an early and concrete understanding of what it means to build network infrastructure that financial institutions depend on at scale. That perspective on how financial enterprises evaluate, deploy, and depend on communications infrastructure is directly relevant to how BroadbandSignals analyzes the investment and strategic implications of broadband market structure today.
IDEA
1993 – 1994
1 year
Firmware Engineer
Transitioning from government to commercial networking, Matt developed firmware for terminal and cluster gateway systems handling IBM SNA protocol traffic — an early immersion in the practical realities of enterprise network interoperability and the protocol translation challenges that define real-world infrastructure deployment.
NASA
1987 – 1992
5 years
Communications Systems Engineer
Matt’s career in network architecture began at NASA, where he led development of some of the first packet-based spacecraft communication systems — applying emerging packet networking concepts to one of the most demanding and unforgiving communications environments in existence. Spacecraft systems tolerate no failure, operate under extreme latency and bandwidth constraints, and required novel protocol approaches that commercial networking had not yet confronted. That foundational work established a first-principles understanding of how packet networks are designed, how they fail, and how they perform under constraint — a technical foundation that has informed every role since.
Carla G. Surratt, PhD — career background
Government Accountability Office
Early career
Research Analyst
Research Analyst
Carla began her career at the Government Accountability Office, where she developed the analytical foundations that would define her subsequent academic and research trajectory. Working inside a federal institution whose mandate is the rigorous, independent evaluation of public policy and its real-world effects, she built early discipline in evidence-based analysis — connecting program structure to measurable outcomes in ways that most research careers never encounter at their start. That grounding in policy-oriented empirical work, at the institutional scale of the GAO, established a standard of analytical rigor that runs through everything she has produced since.
Arizona State University
Graduate study
MA → PhD
Graduate Research — International Affairs & Sociology
After her undergraduate training in Economics — a discipline that builds models of how incentives shape behavior at scale — Carla pursued graduate study at Arizona State University across two disciplines that progressively sharpened her focus on how people and communities actually respond to technological and institutional change. Her MA in International Affairs expanded that economic lens into the structural and cross-cultural dimensions of how communication systems and policy environments interact across different societies. Her PhD in Sociology brought that trajectory to its analytical conclusion: a rigorous, empirically grounded framework for understanding technology adoption not as a market abstraction, but as a social process shaped by household structure, community dynamics, and behavioral norms. That multi-disciplinary formation — economics, international policy, sociology — is precisely what makes her demand-side analysis distinct from standard market research. It connects the household-level data to the behavioral mechanisms that actually drive it.
Private industry
Post-doctoral
Market Research
Market Research
Following her doctorate, Carla brought her academic framework into the private sector, applying sociological and behavioral methods to the practical questions that organizations actually face: how consumers adopt new technologies, what shapes household decision-making, and where the standard market research models break down. That transition — from independent academic inquiry into commercially grounded research — is what gives her analysis its dual fluency. She understands both the theoretical architecture that explains adoption behavior and the applied constraints of producing research that is operationally useful. Her published work on internet adoption, community formation, and the social construction of behavioral pathologies emerged from this same period — research that was ahead of the market in asking the questions that operators and policymakers are still working through today.
Carla G. Surratt, PhD — selected publications
📚
Netlife: Internet Citizens and Their Communities
Examines how internet use shapes community formation, social identity, and civic participation.
📚
Netaholics?: The Creation of a Pathology
Critically analyzes the social construction of internet addiction as a behavioral and clinical category.
📚
The Internet and Social Change
Explores the structural and cultural dimensions of how internet adoption reshapes social institutions and household behavior.
Methodology

A multi-source analytical framework.

BroadbandSignals research integrates four primary data sources into a single framework. No single source provides the full picture — the value is in the synthesis across supply, performance, financial, and demand dimensions.

01
FCC Broadband Data Collection (BDC)
Multi-period H3-level availability data used to measure supply expansion, overbuild intensity, competitive structure, and market maturity by geography.
Geospatial
02
Ookla Speedtest Intelligence®
Network performance data by technology and operator — download, upload, latency — used to measure competitive differentiation, adoption correlation, and upgrade impact.
Performance
03
Operator financial disclosures
Quarterly earnings, subscriber metrics, ARPU, and CapEx data synthesized across cable, telco, and MNO operators to link competitive structure to financial outcomes.
Financial
04
OpenVault usage data
Household broadband consumption trends — total usage, upstream share, heavy-user cohorts — used to assess demand-side dynamics and their implications for network architecture.
Demand-side

Editorially independent

BroadbandSignals accepts no advertising, sponsorship, or vendor funding. All research reflects the analysts’ independent assessment of publicly available data.

No advertising No vendor funding No sponsored content Primary data only
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