At Barron's
Verizon's CEO on How Phones and Networks Work So Differently Now
Oct 10, 2024
Hans Vestberg, CEO of Verizon, delves into the seismic shifts in network usage driven by streaming. He highlights a staggering 129% increase in data consumption and the pivotal role of 5G technology in elevating user experiences. Vestberg discusses Verizon's strategic focus on expanding fiber services and tailored streaming bundles, showcasing its competitive edge over traditional cable. Additionally, he reflects on the imperative of work-life balance for effective leadership, intertwining personal discipline with corporate success.
22:32
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Quick takeaways
- Verizon has transformed its business model by focusing on 5G technology and streaming services, significantly changing user interaction with devices.
- The recent acquisition of Frontier enhances Verizon's fiber network capabilities, aligning with its strategy for sustainable growth and increased market presence.
Deep dives
Verizon's Evolving Business Landscape
Verizon has undergone significant transformations, notably divesting from various media platforms and acquiring new assets to strengthen its market position. The company is now the largest wireless carrier in the U.S. and increasingly focuses on broadband, with nearly 8 million fiber broadband customers and over 3 million subscribers of its 5G fixed wireless access service. These changes have enabled Verizon to expand its footprint considerably, ensuring that 90% of the U.S. population has convenient access to a Verizon store. This scale, combined with the integration of a new management team and updated offerings, positions Verizon for continued growth in the competitive telecommunications market.
