Verizon Expands Discounts on Combined Mobile and Internet Services
In a strategic move to enhance customer value, Verizon has expanded its discount offerings for customers who combine their mobile and internet services. The company now offers a $15 monthly discount for subscribers who bundle their mobile plans with any of its home internet services, including its 5G Home wireless internet and FIOS wired fiber internet. This discount is available to all Verizon customers on a monthly subscription mobile plan, excluding prepaid users. By taking advantage of this deal, customers can access internet services starting at just $35 per month, making it one of the most affordable options in the market.
Enhanced Perks and Simplified Plans
To sweeten the deal, Verizon has introduced additional perks for customers who choose to bundle their services. The company has rebranded its mobile and internet offerings under the "myPlan" and "myHome" umbrellas, respectively, allowing customers to customize their plans with add-ons like digital subscriptions to popular streaming services such as Netflix and HBO. These subscriptions are available at a discounted rate of $10 each, offering a significant saving compared to their usual prices. Furthermore, customers with premium home internet plans receive an extra perk credit, allowing them to choose from a variety of benefits every month, further enhancing the overall value proposition.
Verizon’s Strategy for Convergence
According to Frank Boulben, Chief Revenue Officer for Verizon Consumer Group, this move is part of the company’s broader strategy to converge its services and offer customers a seamless, cost-effective experience. Boulben emphasizes that this approach is "unique" and tailored to provide "great value for the money." The discounts and perks are designed to encourage existing mobile customers to also subscribe to Verizon’s home internet services, thereby deepening their relationship with the brand. This strategy is not aimed at poaching customers from competitors but rather at increasing the uptake of Verizon’s fixed wireless access internet among its existing mobile user base.
Bridging the Awareness Gap
Despite the growing popularity of wireless internet solutions, there is still a significant awareness gap compared to traditional wired internet services like FIOS, which has been around for two decades. Boulben highlighted that some customers might confuse Verizon’s 5G Home internet service with mobile hotspots, perceiving it as a supplementary service rather than a comprehensive replacement for home internet. To address this, Verizon is focusing on educating customers about the capabilities and reliability of its fixed wireless access, positioning it as a viable alternative to traditional wired internet.
Growth and Expansion Plans
Verizon’s efforts to promote its fixed wireless access internet are paying off, with the company reporting 4.6 million subscribers as of October 2024. This represents a significant portion of the company’s total internet subscribers, which stood at 12.3 million when combined with wired fiber connections. The growth trend clearly favors wireless internet, with 373,000 net additions in the fourth quarter of 2024 compared to 51,000 for fiber. Cable internet, on the other hand, continues to lose subscribers, underscoring the shift towards wireless solutions.
Expanding Coverage and Future Outlook
Verizon is committed to expanding its service coverage to meet the growing demand for high-speed internet. Its fiber internet footprint currently covers 18 million households, primarily in the US Northeast, with plans to extend this to an additional 650,000 households in 2025 and a million more annually thereafter. Meanwhile, its fixed wireless access is already available to 60 million locations, providing a broader reach and more flexible connectivity options for customers. By combining competitive pricing, enhanced perks, and extensive coverage, Verizon aims to solidify its position as a leader in the telecommunications industry.
This strategic approach not only enhances customer satisfaction but also sets the stage for sustained growth and innovation in Verizon’s service offerings.
