23 Revealing Verizon Statistics, Trends & Facts In 2024 (Guide)

Verizon Fun Facts: 25 Statistics That Will Blow Your Mind

For over two decades, Verizon has been a dominant force in the telecommunications industry. From its humble beginnings as Bell Atlantic, Verizon has grown into a massive company that touches the lives of hundreds of millions of people across the globe every single day.

Whether you‘re a Verizon Wireless customer, use Verizon Fios internet or TV at home, visit websites owned by Verizon Media like Yahoo or AOL, or do business with one of the many companies that rely on Verizon‘s network and technology, chances are Verizon has impacted your life in one way or another.

As one of the most valuable companies in the world and a perennial member of the Fortune 20, there‘s no shortage of fascinating facts and statistics about Verizon. In this post, we‘ve compiled 25 of the most mind-blowing Verizon statistics that illustrate just how massive and important this company really is.

Let‘s dive into the numbers that define Verizon, and what they mean for you as a consumer:

Financial Heavyweight

  1. In 2021, Verizon generated $133.6 billion in consolidated revenue. This represented a 4.1% increase from 2020, even in the face of economic headwinds from the global pandemic.

  2. Verizon‘s 2021 revenue makes it the 21st largest company in the United States by total revenue. Verizon is one of just two telecommunications companies in the Fortune 50, along with rival AT&T.

  3. Verizon‘s operating income in 2021 was a whopping $31.4 billion, an increase of 7.7% over 2020. This demonstrates the company‘s ability to continue growing profits even with the increased costs of building out its 5G network.

  4. Verizon is one of the 20 most valuable companies in the world with a market capitalization over $200 billion as of mid-2022. Verizon has consistently ranked in the top 20-25 worldwide going back over a decade.

  5. To maintain its network advantage, Verizon invests massive amounts in capital expenditures. The company spent $20.3 billion on capex in 2021 alone and has averaged around $15-17 billion per year for the past decade. A large portion is dedicated to expanding 5G.

  6. Verizon also spends big on advertising and promotions to attract and retain wireless customers. The company spent $3.5 billion on advertising in 2021, putting it in the top 10 of U.S. advertisers. Verizon especially ramps up ad spending around new iPhone launches and the holiday season.

Connecting (and Covering) America
7. Verizon Wireless ended 2021 with 115.4 million total wireless retail connections. This makes it the largest U.S. wireless carrier in terms of subscribers. However, T-Mobile is a very close second after its merger with Sprint and is growing faster.

  1. Verizon‘s 4G LTE network covers over 99% of the U.S. population, with over 327 million people covered. Its 4G network spans 2.68 million square miles. Verizon was the first national wireless carrier to build out 4G LTE coverage.

  2. Verizon‘s 5G Ultra Wideband network, which uses higher-frequency millimeter wave spectrum for faster speeds, is currently available in parts of 82 cities. The company aims to cover 175 million people with Ultra Wideband 5G by the end of 2022.

  3. Verizon 5G Nationwide, which uses low-band spectrum and covers much wider areas than Ultra Wideband, is available to over 200 million people in over 2700 cities around the country. It typically provides speeds similar to a good 4G connection.

  4. The average Verizon Wireless customer used 14.2 GB of data per month in 2021, continuing the trend of data usage roughly doubling every two years with increases in streaming video, mobile gaming and social media.

  5. To serve its customers, Verizon operates over 6,500 retail stores across the country and has over 135,000 employees worldwide. Its famous stores on New York‘s 34th St. and Chicago‘s Magnificent Mile are top retail destinations.

Fios and Fixed Broadband
13. Verizon Fios, the company‘s fiber-optic internet, TV and phone service, ended 2021 with 7.1 million internet subscribers and 3.8 million video subscribers. Fios internet adoption continues to grow while TV subscribers decline amid cord-cutting.

  1. Verizon Fios is currently available to approximately 16 million homes across nine states in the Northeast and Mid-Atlantic regions. This represents around 35% of all homes in Verizon‘s wireline service area.

  2. The majority of Verizon Fios internet customers are now on plans with download speeds of 200 megabits per second or higher. Verizon‘s fastest widely-available plan is a 940/880 Mbps service, with multi-gigabit speeds available in some areas.

  3. Through its recent acquisition of Tracfone, Verizon now has over 20 million prepaid wireless subscribers in addition to its postpaid base. Tracfone‘s Straight Talk, Total Wireless and Simple Mobile are among the most popular prepaid brands.

Verizon Media and Beyond Wireless
17. Verizon‘s media division, which includes AOL, Yahoo and other digital properties, generated $7.1 billion of revenue in 2021. This represented a 10.1% increase as digital advertising rebounded. Verizon Media was the company‘s fastest-growing division.

  1. The Yahoo ecosystem of websites, including Yahoo Mail, Yahoo Finance, Yahoo Sports and more, counted nearly 900 million monthly active users worldwide in 2021. These giant audiences make Yahoo properties extremely valuable advertising platforms.

  2. Outside of the consumer market, Verizon Connect is a major player in the telematics and fleet management space. The service optimizes routing and tracks vehicle location, maintenance and driver safety for over 100,000 business customers.

  3. Verizon is also one of the largest providers of conferencing and collaboration services to business and government clients. The company‘s BlueJeans by Verizon platform handled over 250 million participant minutes per month in 2021 amid the shift to remote work.

Partnerships and Pop Culture
21. Verizon Wireless was originally founded in 2000 as a joint venture of Verizon Communications and UK-based Vodafone. In 2014, Verizon completed an historic $130 billion deal to acquire Vodafone‘s 45% stake and take full control of the wireless business.

  1. In one of its most significant partnerships, Verizon was the exclusive U.S. carrier partner for the launch of the original iPhone in 2007. Verizon and Apple have maintained a close relationship in the smartphone era.

  2. Verizon‘s famous "Can you hear me now?" ads were everywhere during the 2000s, with actor Paul Marcarelli testing the company‘s network in far-flung locations. In a dramatic twist, Sprint later signed Marcarelli to appear in its ads, sparking a legal battle with Verizon.

  3. The name Verizon itself has an interesting origin – it‘s a combination of the Latin word "veritas" meaning truth, and horizon, signifying the company‘s forward-looking vision. It was chosen out of 8,500 options considered after the Bell Atlantic-GTE merger.

  4. Since its inception in 2000, Verizon has invested a total of over $190 billion in its U.S. network infrastructure. On average, the company spends $5-7 million every hour to maintain, expand and upgrade its industry-leading networks.

The Future Is Calling
As these 25 fascinating facts and figures demonstrate, Verizon is a true titan of the telecommunications industry. The sheer scale of everything the company does is staggering, from its vast network coverage and huge customer base to its billion dollar ad budgets and dominant media platforms.

Looking ahead, Verizon shows no signs of slowing down. The company plans to continue expanding its 5G network to eventually reach over 250 million people in the coming years. Its multiple business units like media, telematics and the Internet of Things represent major growth opportunities.

At the same time, Verizon faces intense competitive threats from its rivals, especially the newly combined T-Mobile/Sprint. Whatever happens, it‘s a safe bet that Verizon will be a central player in the rapidly evolving digital ecosystem.

For consumers, the key takeaway is that when you use Verizon‘s services, whether for mobile, home broadband, digital content or anything else, you can have confidence you‘re connecting over one of the most advanced and far-reaching networks on the planet, built and backed by a company with immense resources and expertise.

The next time you see an ad for Verizon, or notice its familiar red checkmark logo, take a moment to reflect on some of these eye-opening statistics. The numbers behind Verizon are truly remarkable, but the company‘s relentless drive to innovate and push the boundaries of connectivity is what really defines this American success story.