Verizon lost nearly 290,000 customers in just 3 months — But why are so many leaving?
Verizon, the American telecommunications company, revealed its 2025 Q1 data last week and it showed a loss of 289,000 postpaid phone customers in a single quarter, The Street reported. The postpaid phone customers are on Verizon's myPlan plans and are not the same as those subscribed to prepaid plans. The postpaid customers are more important to the wireless carriers as they subscribe for longer periods with a carrier, carry phone payment plans, and are the most reliable and steady.
Losing postpaid customers is a risky move, especially if it's about 300,000 customers we're talking about. On the other hand, AT&T reported that they've added 324,000 postpaid customers in Q1 of 2025. Similarly, T-Mobile has reportedly been adding more postpaid customers, which won't change in the coming years, as their prices are considerably affordable and don't bug the customers.
The company seems to be aware that the price increases have not helped, as their CFO, Tony Skiadas, said 'Our consumer postpaid phone net losses… reflect the impact of recent pricing actions.'
Verizon started the price hikes last year by raising prices on older plans like 5G Get More, 5G Play More, 5G Do More, and 5G Start unlimited plans. However, they followed that by only allowing full autopay discounts to come from bank accounts. Further on, they raised smartwatch plan prices and then put a fresh reduction on autopay discounts for older plans by the end of 2024.
This year, they raised the price of insurance for myPlan customers with 5 lines or more. As per their Q1 data, customers are not too fond of these changes to their plans. One would also argue that their speeds are not up to the mark – compared to T-Mobile's network coverage and lightning speeds.
On the other hand, Verizon has been gaining prepaid customers – adding 137,000 customers in this quarter itself.
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