Verizon says that it is 15 months ahead of its fixed wireless access (FWA) subscriber target and that its fiber network will eventually reach 35 million to 40 million passings.
The assessments were made at a “sell-side” analysts’ event following the release of the company’s third-quarter results.
The carrier says FWA subscribers totals are on path to double to 8 million to 9 million by 2028.
Verizon offered insight into both FWA and fiber growth:
On FWA: At the end of the third quarter, Verizon had almost 4.2 million subscribers, an increase of almost 57% year over year. By 2028, Verizon will have 8 million to 9 million subscribers and will offer coverage to about 90 million households. The commercial launch of its mmWave service for apartment and office buildings is expected in that timeframe.
On Fiber: Verizon will accelerate deployments within its footprint (nine mid-Atlantic states and the District of Columbia). The acquisition of Frontier is expected to add about nine million to 10 million passings. Fios growth will be as high as 650,000 passing annually until the finalization of the Frontier acquisition, when it will jump to 1 million annually.
The combined entity is expected to eventually reach 35 million to 40 million passings.
Verizon says that its capital expenditures next year will be between $17.5 billion and $18.5 billion.
“This is a game changing moment for Verizon and for connectivity across the country,” Chairman and CEO Hans Vestberg said in a press release.
“[Verizon’s] 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. 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.”
Verizon is strengthening its fiber game with the acquisition of Frontier, announced early last month. The transaction is valued at $20 billion. If it closes, it will enable Verizon to break out of its traditional stronghold. Frontier is particularly strong in the upper midwest, Texas, and California.
