Verizon (VZ) Bank of America 2025 Media, Communications & Entertainment Conference summary

Spectrum strategy and network efficiency

• Maintains a strong spectrum position through disciplined build-buy decisions, focusing on compatibility and financial prudence.

• Recent spectrum acquisitions are evaluated for technical fit and financial return, with opportunistic purchases in select markets.

• Network efficiency is a priority, with high subscriber density per spectrum unit and ongoing evolution of radio portfolios.

• C-Band deployment is on track to reach 80-90% of macro sites by year-end, supporting capacity needs.

• Long-term, additional spectrum will be needed, but current holdings are sufficient for near-term growth.

Competitive landscape and customer strategy

• Elevated competition and strategic price increases have led to higher churn, but focus remains on high-quality, high-credit customers.

• Switcher pool remains high, with churn driven by both competition and pricing actions.

• Emphasis on service revenue, EBITDA, and free cash flow as key performance metrics.

• Gross add momentum is strong, with targeted efforts to reduce churn through improved customer experience and AI-driven friction reduction.

• Value guarantee and flexible plans are used to enhance customer retention and acquisition.

Fiber, FWA, and convergence strategy

• Confident in closing the Frontier acquisition by Q1 2026, with integration planning underway and regulatory approvals progressing.

• Frontier deal expected to boost mobility share, reduce churn, and enable cross-selling of new products.

• Fiber ARPU and penetration are rising, with convergence rates improving from 16% to 18% in one year.

• FWA target is 8-9 million customers, leveraging fallow capacity with no incremental capital required.

• MDU FWA rollout is slower due to operational and technical challenges, but long-term outlook remains positive.