How Many People Use Verizon in 2023? [Full Stats]

How many people use Verizon in 2023?

Global spending for telecommunications hit another record high of $1.46 trillion in 2021.

This is expected to grow further, given that people will now continue to rely on wireless fidelity even after the pandemic.

Businesses directly tied to this business are the clear winners of this shift in consumer trends.

In this article, you will find out interesting facts about one of America’s biggest telecommunications companies Verizon.

This includes:

• How Many People Use Verizon?
• What is Verizon?
• What companies are directly competing against Verizon?

How Many People Use Verizon in 2023?

How many people use Verizon in 2023?

Out of the 468.9 million subscribers of wireless services in the United States, the Verizon Consumer Group has 115.2 million retail connection users and 91.4 million post-paid connection patrons.

Similarly, it generated 7.13 million broadband internet subscribers, with 6.6 million users of its Fios connection.

Meanwhile, the Verizon Business Group has 28.7 million subscribers under its retail connection wing which generated $7.7 billion in revenue in Q1 2022 alone.

All About Verizon

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Verizon Communications Inc is a New York City-headquartered telecommunications company formed in 2000.

It is considered one of the world’s leading technology and communications solutions providers pursuing greater digitization for individuals and businesses.

Publicly listed on the New York Stock Exchange and the Nasdaq under the ticker symbol “VZ,” the firm is one of the corporate components of the Dow Jones Industrial Average.

It boasts a market capitalization of $206 billion, with its stock ranging a 52-week average between $45.55 to $59.07.

Moreover, it secured the #20 spot among Fortune 500 companies in 2021 and generated annual revenue of $133.60 billion in the same year.

Verizon’s Annual Revenue from 2019 to 2021

Verizon’s annual revenue has fluctuated in the years leading to 2021.

Despite many people turning to wireless network services to support their work-from-home setups, the company’s financial performance remained restricted.

It had not shown much growth when compared to its pre-Covid performance.

• 2019 – $131.86 billion
• 2020 – $128.29 billion
• 2021 – $133.61 billion

As observed in the data above, Verizon’s annual revenue in 2020 declined by 2.71% from 2019 figures.

This result is rather contradicting the performance of technology companies that experienced double-digit growth during the same period.

US Telecommunications Companies Ranked by Revenue in 2020

Verizon maintains a dominant position in the telecommunications market in the United States. On the other hand, it has lost the top spot to AT&T over the years.

Here are the leading telecommunications companies in the US ranked in terms of revenue:

• AT&T – $171.76 million
• Verizon – $128.29 million
• T-Mobile US – $68.40 million
• US Cellular – $4.04 million

AT&T leads by more than $40 million after securing $171.76 million in revenue during the pandemic year. Its close rival Verizon stalled at $128.29 million.

The revenue of these two companies combined makes up a third of the country’s overall wireless subscription market.

US Wireless Telecommunications Companies Ranked by Number of Subscribers

Despite losing big on AT&T in the annual revenue category, the total user count suggests otherwise.

Verizon Communications Inc remains the dominant player in this category as of the fourth quarter of the financial year 2021.

Take a look at the data below:

• Verizon – 142.8 million subscribers 
• T Mobile US – 108.7 million subscribers
• AT&T – 100.6 million subscribers
• Dish Wireless – 8.5 million subscribers
• US Cellular – 4.9 million subscribers

US Wireless Market for Postpaid Phones

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For the full year 2020, Verizon captured 41% of the US Wireless Market Share for postpaid phones, while T Mobile trailed second at 29%.

Consequently, AT&T did not come much farther behind after getting a 28% share of the total market. The remaining 2% came under Cable’s line.

Verizon reported a net addition of 262,000 postpaid customer additions during the year.

This is a significant downgrade from the 444,000 additions in the same quarter in 2019.

Despite the decrease, the New York-based firm still managed to become the biggest taker of the US wireless market for postpaid phones.

US Mobile Market Carriers and Their Market Shares

Verizon ranked higher than its direct competitor AT&T in the US mobile market.

The carrier has the most number of mobile subscribers and captured 32% of the total versus its rival’s 27% share.

On the other hand, it has lost big to AT&T in the smartphone market.

The latter secured a dominant position with 38% of the total market share under its wings, intimidating Verizon’s 27%.

For the record, 55% of all mobile devices in the world are smartphones, making any company with a stronghold in this area a tough competitor to break at this point.

Verizon’s Employee Count from 2010 to 2021

Verizon has gradually lost its advantage amid the stiffer competition in the market.

This resulted in having to decrease employees to support the management’s cost-cutting measures.

This is Verizon’s employee count data from 2010 to 2021:

• 2010 – 194,400 employees
• 2011 – 193,900 employees
• 2012 – 183,400 employees
• 2013 – 176,800 employees
• 2014 – 177,300 employees
• 2015 – 177,700 employees
• 2016 – 160,900 employees
• 2017 – 155,400 employees
• 2018 – 144,500 employees
• 2019 – 135,000 employees
• 2020 – 132,200 employees
• 2021 – 118,400 employees

Verizon’s employee count consistently followed a downward pace from 2010 until last year.

Just 11 years apart, the company had reduced its workforce roster by 76,000.

Conclusion

There you have it–the answer to the question “How Many People Use Verizon?” is 115.2 million retail connection users from its Consumer Group business segment. It has another 28.7 million retail connection users from its Business Group sector.

Moreover, Verizon leads the line in terms of the total number of subscribers with 142.8 million.

This means that in the middle of the stiff competition with AT&T and T Mobile, it maintained its “user favorite” status in the United States.

We hope you enjoyed reading this article about an innovative American technology company.

Make sure to check out Verizon’s services whenever you need wireless communications services in the future.

Sources