How Many People Use Verizon in 2024? A Deep Dive into the Telecom Giant‘s Customer Base, Market Share, Revenue and More
Verizon is undoubtedly one of the biggest and most influential companies in the telecommunications industry. As of 2024, Verizon provides wireless, internet, TV and other services to well over 100 million customers across America.
But how many people actually use Verizon products and services today? What is Verizon‘s true reach and market position? In this comprehensive guide, I‘ll give you an in-depth look at Verizon‘s customer base, revenue, network coverage and other key statistics. My goal is to provide clear, detailed data to help answer the question: How many people use Verizon in 2024?
Let‘s dive in!
Verizon by the Numbers: Key Takeaways
Before we dig into the details, here are the key stats on Verizon‘s customer base and market position:
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115+ million total wireless retail connections as of Q4 2022
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91 million postpaid wireless customers, the most of any U.S. carrier
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32% market share of U.S. retail wireless, #1 among providers
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6.6 million Fios internet subscribers, trailing Comcast and Charter
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Serving 2 in 3 U.S. wireless customers through consumer and business divisions
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$133 billion in total 2021 revenue, second only to AT&T
So in short, Verizon provides service to over 100 million wireless subscribers, and its products are used by around 2 in every 3 U.S. wireless customers when you combine consumer and business accounts. Now let‘s look at the specifics.
Verizon Consumer Wireless Customers
Verizon‘s main wireless business is focused on consumers through the Verizon Consumer Group. As of Q4 2022, the consumer division had:
- 91.4 million retail postpaid wireless connections
- 5.4 million prepaid connections
- 18.7 million connected devices like tablets and smartwatches
That‘s 115+ million total retail wireless connections under the consumer brand. And with an estimated 350 million wireless subscriptions in the U.S., Verizon holds about one-third of the retail wireless market.
Specifically, the 91 million postpaid subscribers are customers with monthly service contracts, like typical cell phone users. These long-term subscribers are valuable, high-revenue customers for Verizon.
To put Verizon‘s consumer mobile business into perspective, here‘s how it compares to key competitors AT&T and T-Mobile:
| Carrier | Total Wireless Subscribers | Postpaid Subscribers |
|---|---|---|
| Verizon | 115+ million | 91 million |
| AT&T | 100+ million | 75 million |
| T-Mobile | 110+ million | 85 million |
With around 20 million more subscribers than AT&T and T-Mobile, Verizon has maintained its position as the largest carrier in the U.S. consumer wireless market since surpassing AT&T in subscribers in the mid-2000s.
Verizon Business Wireless Customers
In addition to the consumer side, Verizon Business caters to enterprise and government customers. As of Q4 2022, Verizon Business had:
- 28.7 million wireless retail connections
- Over 2,500 large business customers
- Key partnerships with 95% of Fortune 500 companies
From huge multinational companies to small businesses and public sector organizations, Verizon Business has a massive footprint providing wireless service nationwide.
Combined with its 115 million consumer connections, Verizon‘s total wireless customer base across business and consumer categories clocks in at over 140 million connections. With about 350 million total wireless subscriptions in the U.S., Verizon accounts for roughly 2 in every 3 retail wireless customers nationwide through its comprehensive market coverage.
Verizon Fios Internet Subscribers
Aside from its industry-leading wireless business, Verizon also provides wireline services to consumers and businesses. This includes fiber optic internet and TV service through the Verizon Fios brand.
As of Q4 2022, Verizon reported:
- 6.6 million Fios internet subscribers
- 3.8 million Fios TV subscribers
Though it trails cable leaders like Comcast and Charter in total internet subscribers, Verizon Fios gives the company roughly 5% market share of wireline broadband connections in the U.S.
Fios helps attract and retain Verizon wireless subscribers as it converges mobile with home internet and TV in its service bundles. Verizon‘s fiber network spans large portions of the Northeast and Mid-Atlantic.
Verizon‘s Revenue
With over 140 million wireless subscribers and multi-product bundles, Verizon boasts substantial revenue despite fierce competition.
In 2021, Verizon generated total operating revenue of $133.6 billion. For context, here‘s how Verizon‘s revenue compares to top rivals:
- AT&T: $168 billion
- T-Mobile: $80 billion
- Comcast: $116 billion
So among U.S. telecom and media giants, only AT&T brings in more annual revenue than Verizon, with Verizon surpassing T-Mobile and Comcast.
Approximately 70% of Verizon‘s revenue comes from its consumer wireless business. Meanwhile, 30% is generated from the enterprise-focused Verizon Business division.
This diversified revenue profile from both consumer and business gives Verizon stability as consumer wireless spending fluctuates. Enterprise 5G and other new technologies provide fresh revenue streams as well.
Verizon Network Coverage and Availability
Being competitive in wireless requires having the network reach to attract and satisfy customers across America. Verizon continues to invest heavily in its network footprint and performance.
Some key network availability stats:
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4G LTE covering over 2.4 million square miles, available to over 99% of the U.S. population
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5G Ultra Wideband offering peak speeds in excess of 1 Gbps, now reaching over 175 million people
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Nationwide 5G providing 200+ million people access to broader 5G coverage
Between expansive 4G LTE connectivity and its growing next-gen 5G coverage, Verizon provides the network availability customers expect from their wireless provider. Solid network reach is essential to supporting Verizon‘s 100+ million subscribers.
Verizon Employees
It takes a lot of manpower to run a technology business serving 140 million mobile customers plus home internet and TV subscribers.
As of 2021, Verizon employed around 118,400 full-time staff. Key employee groups include:
- 39,800 unionized employees
- Over 20,000 customer service and call center reps
- Thousands of network engineers/technicians
- IT professionals, marketers, analysts, and more
Though down from over 150,000 just a few years ago, Verizon maintains one of the larger workforces among U.S. corporations.
These employees allow Verizon to develop and deliver innovative service offerings across its wireless, fiber, 5G, and telematics business lines. The company invests over $200 million annually in employee training as well.
Satisfied employees ultimately lead to satisfied customers – a key focus for Verizon as it aims to retain its leadership in wireless.
The Bottom Line
Let‘s pull this all together – how many people use Verizon? Based on the stats, we can determine:
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More than 115 million Americans use Verizon as their consumer wireless provider
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Tens of millions more depend on Verizon Business for enterprise wireless
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Over 140 million total wireless retail connections make Verizon #1 in subscribers
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With Fios, over 6 million households connect to Verizon for broadband
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Verizon maintains roughly one-third market share of all U.S. retail wireless
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Altogether, about 2 in 3 wireless customers use Verizon consumer or business
So while the competitive landscape is intense, Verizon continues to hold a leading position serving over 100 million mobile subscribers across consumer and business categories.
With its unrivaled scale, Verizon will remain one of America‘s vital communications providers for years to come as technology evolves from 4G and 5G to whatever‘s next.
