Verizon CEO sees fixed wireless access as 'the next generation of broadband'

Verizon CEO Hans Vestberg highlighted continued momentum in its Fios business but pointed to fixed wireless access as a key tool in its quest to expand its broadband reach further and faster. Vestberg explained that Fios and its 4G and 5G fixed wireless products are part of a patchwork of solutions the operator is leveraging to deliver a “full nationwide broadband offering.” He added fixed wireless gives the operator an opportunity to serve up broadband to its sprawling base of wireless customers outside its ILEC footprint. Earlier this month, Verizon announced its 5G Home internet service is now live in parts of 57 cities. Its 4G fixed wireless offering is much more broadly available, covering 48 states. The operator previously outlined plans to reach 15 million homes with fixed wireless by the end of 2021, nearly 30 million by 2023 and 50 million by 2025. For comparison, its Fios service is available to roughly 15 million locations across eight states in New England and the Mid-Atlantic regions. As of the end of Q2 2021, Verizon had approximately 6.7 million Fios subscribers. Vestberg added Verizon sees an opportunity to continue to differentiate and grow revenue from its broadband offerings by bundling various offers from partners, as it’s already done with content from Disney +.