Verizon (VZ) The Bank of America 2024 Media, Communications and Entertainment Conference summary

Political and economic outlook

• Focus areas include ACP, rural broadband, Title II reforms, and tax reforms amid political changes.

• Maintains strong bipartisan relationships to navigate regulatory ambiguity.

• Economic insulation due to premium customer base and high connectivity demand.

• Operating metrics like delinquencies and churn remain at pre-pandemic levels.

Growth strategy and market dynamics

• Emphasis on fundamentals: sales momentum, regional sales structure, local marketing, and brand refresh.

• Achieved 5–12% gross adds growth; expects positive net adds by year-end through churn reduction.

• Industry growth expected at 5–6 million subscribers annually, with robust value proposition in C-band, myHome, and myPlan.

• Prepaid to postpaid migration and immigration are key market growth drivers.

Broadband and convergence

• FWA nearing 4 million subscribers, with strong NPS and ARPU growth.

• Fiber (Fios) adds 400,000–500,000 homes annually; 20th anniversary celebrated.

• Bundling fiber with mobility reduces churn by 50% for mobility and 40% for fiber.

• Plans to expand FWA and fiber footprint as capacity grows, targeting 50–60 million homes.