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This statistic highlights Verizon’s Churn Rate, split across Retail, Retail postpaid, and Retail postpaid phone, reported on a quarterly basis. Verizon is the largest wireless communications provider across the United States and has 30 million subscribers worldwide. The firm also has the largest countrywide wireless voice and data network.
The following table represents Verizon’s Churn Rate for Q4 2020, Q3 2021, and Q4 2021.
|Churn Rate||Q4 2020||Q3 2021||Q4 2021|
|Retail postpaid (%)||1.0%||0.9%||1.0%|
|Retail postpaid phone (%)||0.8%||0.7%||0.8%|
The churn rate of the company has seen marginal growth throughout the years. As per the latest data provided by the company, it has a 3% churn rate in Q4 2020 that has increased marginally to a 3.1% churn rate in Q4 2021. It also grew from a 2.7% churn rate In Q3 2021.
According to the above table, the wireless retail churn rate was 1.1 percent throughout the first two quarters of 2021. This highlights that out of the average total connections, 1.1% of people terminated their services before the end of the period of subscription. The Retail postpaid and Retail postpaid phone churn rates depicted a modest decline in Q3 2021. Thus, the company’s churn rate has been reasonably steady, although with a subtle decrease in the overall churn rate over the period from Q1 2021 to Q3 2021.
This wireless churn rate is defined as the average rate at which the service to retail, retail postpaid, and/or, retail postpaid phone connections is terminated in a specific given period. Each period’s churn rate is different and is derived by the average proportion of customers who canceled their subscription to the company’s services during that period.
The company plans to diminish the churn by offering a consistent, dependable wireless experience and concentrating on enhancing the customer experience by providing more straightforward pricing and continuous attention to its distribution networks. The company also intends to grow its Fios internet connections as it attempts to increase penetration rates inside Fios service areas that will be aided by the desire for faster internet connections.
About the Company
Verizon Communications Inc. is an international broadband and telecommunication provider. It is a holding company that functions through its subsidiaries. It is one of the leading providers of technology, communications, information, and entertainment products and service to its consumers, businesses, and government entities. The company was founded in 1983 by the AT&T corporations and is headquartered in New York, United States. The company is listed on New York Stock Exchange (NYSE) under the trading symbol “VZ”.
The company provides data, video, and voice services and solutions on its networks and platforms which are designed to accommodate customers’ demand for mobility and reliable network connectivity, security, and control. The main focus of the company is on the capabilities of its High-performing networks to enhance growth based on delivering what the customers want and need in the new and dynamic digital world.
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