Verizon Communications Inc. reports developments across its telecommunications business, including wireless service performance, broadband connectivity, enterprise services and network technology. Company updates commonly address postpaid phone activity, customer economics, cash flow, guidance, investor conference appearances and capital markets actions involving outstanding Verizon and subsidiary notes.
News also covers Verizon's network resilience and public-safety capabilities, including Digital Twin damage modeling, satellite-enabled disaster connectivity, private 5G, fixed wireless access and broadcast solutions. Partnership and sponsorship updates describe how Verizon uses 5G, fiber and venue network design to support connected experiences for customers, businesses, broadcasters and large events.
Verizon Media will implement closed captioning on 100% of original and partner video content starting on April 1, 2021, as part of its commitment to accessibility. This initiative will reach nearly 900 million consumers across its platforms, including Yahoo. Additionally, the company is donating $5 million in media to disability organizations and extending video ad captioning across its offerings. Verizon Media is also launching an Accessibility Council to oversee and enhance accessible practices across its content and services.
Verizon has introduced its Verizon Cloud, an unlimited storage solution designed for seamless backup of photos, videos, and documents across multiple devices. The service allows automatic uploads from iOS, Android, Windows, and Mac devices, and offers a 30-day free trial. Customers can enjoy sharing options with up to four users. The service is priced at $19.99 per month after the trial period. Existing free account users must transition before May to avoid service disruption. Verizon generated $128.3 billion in revenue in 2020.
Verizon is proactively preparing its network for the severe weather season, emphasizing resilience with backup power and contingency plans. The company’s engineers are implementing essential strategies such as generator readiness and redundant infrastructure to ensure connectivity during power outages. Additionally, the Verizon Response Team is on standby 24/7 to support first responders with emergency technologies. Key preparations include surveillance drones, fuel delivery plans, and year-round drills to maintain operational readiness. Residents are urged to prepare personally for potential impacts during severe weather events.
Verizon's C-Band Spectrum Acquisition Boosts 5G Expansion
Verizon's newly acquired C-Band spectrum will significantly enhance its 5G mobility and home services. By the end of 2021, the company plans to increase broadband services to nearly 15 million homes and expand its Ultra Wideband mobility coverage to 100 million customers. Ten new cities, including Cleveland and San Diego, will receive 5G Home Internet. Customers can enjoy speeds up to 1 Gbps at competitive prices, with no data limits and additional perk of a free discovery+ streaming service for a year.
Verizon has partnered with Hoy Health to provide exclusive discounts on telehealth services for its customers. This alliance allows Verizon Wireless postpaid customers to access a 35% discount on virtual consultations with bilingual doctors and one month of select medications. Additional savings include 10% off medications for family members in select Latin American countries and discounts on chronic management kits. Customers can easily sign up through the Verizon website, enhancing their access to healthcare during a time of increased health priorities.
Verizon launched the Women’s CoLab initiative to support women amid high workforce attrition due to pandemic-related burnout. A survey revealed that 68% of women who left voluntarily cited burnout as a key factor. The program aims to provide mentorship, training, and resources for women entrepreneurs. Verizon will kick off the #WomenOwnWednesday social campaign on March 10, encouraging support for women-owned businesses. The initiative builds upon existing efforts to help women in the workplace, addressing gaps in training and mentorship opportunities.
Verizon has launched Mobile + Home Rewards, a new program offering additional savings for customers who subscribe to both its wireless and Fios Home Internet services. New customers can access both Verizon Unlimited and Fios Internet for just $79.99/month with Auto Pay. Through the program, customers can save up to $40/month when they enroll in Mobile + Home Rewards. Existing customers can also receive combined discounts of $30/month or $40/month, depending on their service plans. This initiative aims to enhance customer satisfaction and service bundling benefits.
Verizon Frontline will be introduced during pro basketball's big game, showcasing its advanced network for first responders. The initiative includes partnerships with professional basketball teams to deliver free meals to frontline workers and an online gaming experience featuring Donovan Mitchell and other players. Verizon Frontline has already provided over 150,000 meals through its Food for Frontline Workers program, supporting local restaurants impacted by the pandemic. The company is also collaborating with The Leary Firefighters Foundation to enhance support for firefighters nationwide.
Verizon Communications has declared a quarterly dividend of 62.75 cents per share, consistent with previous payouts. This dividend will be payable on May 3, 2021, to shareholders recorded by April 9, 2021. The company has approximately 4.1 billion shares outstanding, with $10.23 billion paid in dividends in 2020. Verizon generated $128.3 billion in revenues last year, establishing its status as a leading provider of communication services globally.
Summary not available.