Bloomberg

Millions of wireless customers are opening recent phone bills to find AT&T and Verizon raised rates on older service plans. Both Verizon, and to a lesser degree T-Mobile US Inc, have also increased monthly fees. While customers aren’t happy about it, they’re not racing for the exits. And that could pay off for the carriers. “[Telecom companies] want to use this inflationary period to reset their pricing models upward,” said Tammy Parker, an analyst with GlobalData.

Through the “huge” growth of internet traffic, Big Tech is “forcing” phone companies to invest heavily in improving networks while not helping to meet the cost, said Orange SA CEO Christel Heydemann. “We are condemned to invest in infrastructure,” Heydemann said. She added that network traffic is expected to “multiply by three or five” times in the next six years. That huge growth is “essentially captured by a few players, the big content providers, five players that force us to invest,” she added.