Rogers Remains a Leading Firm in Slow-Growth Industries

Rogers Communications is the leader in Canada’s wireless market, with over 30% share, and has continued to invest heavily in improving its network. The firm has spent more than any peer on spectrum since 2019, cementing its position as a network leader. However, we don't see any practical difference in the wireless networks of the major competitors. With Quebecor entering the market as a national wireless competitor and four participants offering excellent networks, we expect competition to weigh on prices throughout the industry, which should temper wireless services revenue growth even as Rogers maintains its leading share.