How 5G Fixed Wireless Became Verizon’s Star Player in Just One Year

2022 was an important one for Verizon fixed wireless access (FWA) as the company turned up the service using C-band spectrum and 5G in major metro markets. The company had one million customers for the service, known as Home Internet, as of the third quarter and most of those were added in 2022, said Verizon CEO Hans Vestberg. Previously Verizon had deployed FWA in some markets using its millimeter wave spectrum, which offers high speeds but over relatively short distances, and in other bands using earlier-generation LTE technology. The C-band spectrum that Verizon paid top dollar for in 2021 is considered the mid-band spectrum, which is seen as offering the optimum mixture of speed and coverage. The company began deploying 5G service in the band early in 2022, and the company aims to get the most out of its investment by using the spectrum to support 5G mobile and FWA, as well as private wireless services aimed at business customers. Verizon has been aggressive with its 5G FWA pricing, offering service for as little as $25 a month. The best pricing is for customers that bundle FWA and mobile service together and although he didn’t cite specifics, Vestberg said some customers are bundling and churn is lower for those who do. Adding to the service’s appeal, according to Vestberg, is the fast self-installation time. The customer premises equipment (CPE) is shipped to the customer and can be set up in less than five minutes. Customers spend the majority of the five minutes finding their Wi-Fi password, he noted. Moving forward, Verizon will shift to a standalone 5G core, which will support higher speeds and new services, Vestberg said.