American telecommunications service provider Verizon Communications announced an update to its broadband strategy, targeting accelerated growth in fixed wireless and fiber offerings during a recent analyst event following its Q3 2024 results. As of the end of Q3 2024, Verizon reported over 11.9 million broadband connections, marking a 16 percent year-over-year increase. The company said it has nearly 4.2 million fixed wireless subscribers, a 57 percent jump from last year, and aims to double this figure to 8-9 million by 2028, expanding coverage to 90 million households.
Also Read: Verizon to Acquire Spectrum from US Cellular in USD 1 Billion Deal
Targets for Fixed Wireless Subscribers
Verizon noted achieving its previous goal of 4-5 million fixed wireless subscribers 15 months earlier than expected due to strong demand from consumer and business customers.
"Our ambitious targets for fixed wireless access, combined with our fiber expansion including the planned Frontier acquisition, will bring unmatched broadband coverage to millions more homes and businesses nationwide," Verizon CEO said. "We are creating an integrated connectivity experience that gives customers freedom in how they connect and use our services. This is about delivering the network of the future, and setting a new bar for the entire industry."
Launch of mmWave Solution
Verizon plans to launch its mmWave solution tailored for high-density areas, utilising existing infrastructure for faster and more cost-effective deployment.
"Verizon will commercially launch its advanced mmWave solution for apartment and office buildings to address high-density population areas. The technology leverages existing infrastructure, making it less expensive to build and faster to deploy," the US carrier said, adding that the continued deployment of C-band and mmWave will provide the performance and capacity needed to meet these goals.
Fiber network expected to grow
In 2025, Verizon is targeting an expansion of Fios builds to up to 650,000 passings annually. Following the closing of the Frontier acquisition, Verizon expects the combined build to reach up to 1 million or more passings annually.
Verizon anticipates more than 30 million fiber (Fios) passings in the combined Verizon/Frontier footprint by 2028. Over time, Verizon expects to achieve 35-40 million fiber passings. This expansion is bolstered by Verizon's pending acquisition of Frontier, which will add approximately 9-10 million fiber passings to its network.
Also Read: Verizon to Acquire Frontier Communications for USD 20 Billion
Frontier's consumer fiber network can be immediately and seamlessly integrated upon closing directly into Verizon's Fios network, the company said.
Verizon said it will continue to look for opportunities to accelerate its ongoing Fios builds within the current footprint in nine states and Washington, DC.
