Verizon: service to millions
The company has a retail customer base of approximately 120 million subscribers in 2019. Verizon's average monthly churn rate is around 1.3 percent as of 2019. Verizon does not report average revenue per user (ARPU), choosing to focus instead on the metric of average revenue per account (ARPA), which has declined over the past few years from almost 160 U.S. dollars in 2014 to 118.4 U.S. dollars in 2020.
Verizon Communications employs approximately 135,000 people and provides a range of communications, information, and entertainment products and services to consumers, businesses, and government agencies, both in the U.S. wireless and wireline markets.
In the wireless segment, AT&T and Verizon continue to tussle for top position. T-Mobile US still sits in third place, behind Verizon, despite gaining ground in terms of revenue following the merger with the Sprint Corporation in 2020. Similarly, in the wireline market, AT&T and Verizon hold the top spots, while CenturyLink holds the third-largest market share. This success contributes to Verizon being considered one of the most valuable telecom brands globally.
Positioning for 5G
The company went through strategic restructuring in 2018 and 2019 and stopped the operational split between wireless and wireline businesses. It has now two strategic business units: Verizon Consumer Group and Verizon Business Group, which provide wireless and wireline services and products to retail customers and business/government customers respectively. This is Verizon's effort to ensure the delivery of new best-in-class customer experiences and to be better positioned to meet the growth opportunities in the 5G era.
Verizon’s 5G service covers approximately 400 thousand square miles of the United States through 231 million points-of-presence (POP), putting them behind T-Mobile US and AT&T on both metrics.