Verizon Communications is a broadband and telecommunications operator headquartered in New York. It is one of the two largest telecommunications operators in the United States, alongside AT&T Inc., generating around 130 billion U.S. dollars in annual revenue. The company today is the result of a merger of Bell Atlantic and GTE Corporation in 2000, and a joint venture with Vodafone, a British multinational telecommunications company.
The company has a retail customer base of almost 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 118.13 U.S. dollars in 2019.
Today 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, both sitting comfortably above Sprint Corporation and T-Mobile U.S. in terms of revenue. 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 in 2019.
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.
During the 2020 coronavirus (COVID-19) outbreak in the United States, Verizon's network saw significant increase of data usage due to the widespread home confinement practices in an effort to contain the spread of the virus. Verizon's VPN traffic increased by 49 percent on April 9th, 2020, in comparison to a typical day prior to the COVID-19 outbreak; web traffic likewise increased by 27 percent. Streaming box/stick, gaming console and connected TV are the tech devices that consume the most traffic in the United States during this period.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.
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In the following 7 chapters, you will quickly find the 49 most important statistics relating to "Verizon Communications".