petition among all carriers; it is driving rates down and causing a shift from wired telephony to wireless voice services, which means wire-based telephone companies are losing access lines. Wireless and cable companies, on the other hand, continue to attract new subscribers and to offer new services, thereby generating rev- enue growth. Competition in traditional narrowband (voice/data) services necessarily depresses carrier revenues because the demand for such services is price inelastic. With these traditional communications services SO widely dis- persed throughout U.S. households and businesses, growth must come from the development of new services. As cable develops its broadband and voice over Internet services, in addition to more and more channels of distributive video, its revenues per subscriber will continue to grow. Similarly, as wire- less offers new features and increasingly serves the long-distance voice mar- ket, its revenues per subscriber will surge beyond even the levels of the past three years. Note the steady increase in cable revenues in recent years in response to the addition of video channels and, in particular, cable's success in selling cable modem services. Cable operators can also sell advertising in their program offerings. Wireless carriers, too, have enjoyed increasing revenues per subscriber since they began offering long-distance service through nationwide pricing plans. However, this growth is likely to abate as the Bell companies expand into long-distance service in the wake of the Sec- tion 271 approval process. Wireless carriers will clearly need new, advanced A Look Back and a Look Forward services to allow their revenues per subscriber to continue to grow, but they still have several years of revenue growth available from attracting a large share of the Americans who still do not have a cell phone. The most endangered species in the communications sector is the wire- based company that tries to survive by offering a single service or a limited set of services, such as loca