AT&T CEO John Stankey is enforcing a market-based mentality by combining help-desk centres and requiring managers to relocate to six hubs or risk losing their jobs. As part of a massive workplace reorganisation, AT&T is forcing more of its managers to transfer or face severance.
CEO John Stankey’s Push for a Market-Based Culture
This decision highlights the telecom giant’s strict culture reset under CEO John Stankey. The corporation is reducing 22 internal help-desk locations to just six regional hubs, according to Business Insider. These units’ managers have been given two weeks to make a decision about leaving the company with severance pay or moving.
On the other hand, unionised employees will be permitted to stay in their current locations, although in various customer service support positions. The modifications, which mostly impact workers who support other AT&T employees, are part of a larger approach Stankey has been following since 2023: centralising operations, reducing legacy expenses, and putting efficiency first.
A representative for the corporation acknowledged that fewer stores are being opened, but they did not provide a specific number and insisted that the action had nothing to do with Stankey’s recent email to employees.
AT&T Moving Towards Market Based Culture
In a direct internal memo earlier this month, Stankey informed staff that AT&T was implementing a “market-based culture” that necessitated greater in-office cooperation. He claimed that tenure-based security and workplace loyalty were outmoded ideas in the missive, which Business Insider was the first to report.
Six Hub Cities: Where Managers Must Relocate
An internal poll that revealed a decline in employee engagement prompted the note. Managers told Business Insider they think the memo sped up the timeline, despite AT&T’s insistence that the help-desk consolidation is distinct. Things that used to take years are now being completed in a matter of weeks. The plan requires managers to move to one of six cities: Miami, Orlando, Richardson, Texas; Atlanta; Mesa, Arizona; or Tulsa, Oklahoma.
Impact on Employees: Relocation vs Severance
Workers claim they feel torn between leaving their jobs and uprooting households. A number of employees also revealed that department heads had been assigned the responsibility of creating “action plans” to resolve issues brought up in the most recent employee survey.
Layoffs and Workforce Reduction at AT&T
The most recent relocation wave is a component of a larger trend. Around 60,000 managers will be redistributed to just nine metro areas, down from 300, according to AT&T’s 2023 announcement. Stankey informed Bloomberg at the time that choices on the relocation of roughly 9,000 employees will be made.
According to internal data, about half of the 318 managers who were told to relocate in one division under Chief Technology Officer Jeremy Legg declined and quit. As a result, the headcount of the entire company has been declining. AT&T started 2025 with about 141,000 employees, compared to over 160,000 in the beginning of 2023. In contrast, rivals T-Mobile and Verizon reported about 70,000 and 99,000 workers, respectively.
AI Integration: $3 Billion Cost-Cutting Plan
Another key component of the company’s strategy is AI. Stankey stated during a January earnings call that AT&T anticipates integrating AI into operations to save $3 billion in operating expenses. AT&T Technology Services is now feeding trouble tickets into its generative AI systems, which can already suggest improvements and even create the code to put them into action, Legg stated at the KeyBanc conference. Although there is still human control, automation is growing quickly.
Quick
Shots
•Managers told to relocate to six hubs
or accept severance packages.
•Push for a “market-based culture”
with centralised operations and reduced costs, CEO John Stankey’s Strategy.
•Internal support centres cut from 22
to 6 regional hubs.
•Two-week deadline to decide; many
facing relocation vs. job loss dilemma.
Media companies are thriving, especially digital media companies these days. Various advertisements are used to generate revenue by these companies: programmatic advertising, sponsorships, subscriptions, native promotions, and more. Furthermore, a lot of digital media companies are out there growing. Thanks to the increasing number of people using the internet and with the need to keep up with everything, the speed at which the internet works these days is increasing. 5G networks are rolling in offering more and better services.
Advertising, broadcasting and networking, news, print and publication, digital, recording, motion pictures, events, and more, all of these specifications fallunder the umbrella of two words: the media industry, with each having its unique way of working. But in today’s world, with the rapid development of new technology and the internet, the media industry has lived through much change itself. Some companies are revolutionizing how we look at and define media today.
Every company is a media company – David Ogilvy
People will continue to want to stay informed and entertained. Look at the top Media companies that originated in the U.S.
History has witnessed a thirteen-year-old writing his first program on a teletype computer, a tic-tac-toe program in basic computer language purchased for the school by the mother’s club. This company right here does not need any introduction, nor does the co-founder of Microsoft, and philanthropist famous for creating history.
Bill Gates has a history of excelling in his school, getting exemplary grades and scoring 1590 out of 1600 on a Scholastic Aptitude Test. Gates and Paul Allen later bonded in school over their love of computers, and the rest of the story is known to the world. Bill has worked with Steve Jobs and they did get along well. It is one of the lesser-known facts, but Microsoft rescued Apple in the year 1997 from running into bankruptcy.
The organization is believed to be responsible for the emergence of the term “tablet”. It has been experimenting, leading to prototypes for its product designs. Microsoft has gained over 10,000 patents, applying for 3000 more per year. Also well known for its computers and gaming consoles.
Recently there were alleged reports that Microsoft did try to buy Discord and Pinterest this year, and it shows the prominent role of the internet in the area of digital media. Here is a list of companies, right from social media platforms to interactive media companies that fall under the umbrella of Microsoft Corporation.
LinkedIn Corp.
Skype
GitHub
Mojang
aQuantive
ZeniMax Media Inc
Meta (Facebook)
Founder
Mark Elliot Zuckerberg
Founded in
2004
Headquarters
1 Hacker Way, Menlo Park, California
Revenue
$116.6 Bn (2022)
CEO
Mark Elliot Zuckerberg
Biggest Media Company | Meta
The most popular social networking app has rebranded itself as Meta. The most expensive acquisition that Facebook has ever made is that of WhatsApp. Facebook bought it for 19 million in the year 2014. Evolving the way we connect recently, Facebook has also rebranded itself as Meta. Metaverse is further changing how other platforms work as well with virtual and augmented reality.
Facebook has acquired over 90 companies. The count is based on names that the company has disclosed. However, there may be more acquisitions that have not yet been announced.
Some well-known companies acquired by Meta (Facebook) are as follows:
Instagram
Oculus VR
Onavo
Beluga
WhatsApp
Media has taken on a whole new aspect with the introduction of the metaverse. This features virtual and augmented reality and the technologies associated with it that could boom in the coming years.
American Telephone and Telegraph (AT&T)
Founders
Alexander Graham Bell and Gardiner Greene Hubbard
Founded in
1983
Headquarters
Dallas, Texas, U.S.
Revenue
$120.74 Bn (2022)
CEO
John T. Stankey
Biggest Media Company | AT&T
It ranks as the number one and largest communication company in the world by revenue and has over 100+ million U.S. mobile subscribers, according to the report for 2020. It has over 200 million subscribers worldwide. AT&T provides branded telephones, cabling systems, and consumer electronics.
Representing quality in global communications, connecting people with 5G, internet & fiber, technology & innovation, and entertainment with Warner Media and its streaming platform HBO Max. This platform stands out as a strong brand. It is also the first company to offer a 5G network in the USA.
Selling out premium content, which is a plus point to establish deeper relationships with its consumers, with storytelling, in turn, converting them into loyal customers.
Their channel, CNN, reaches over 200 billion people. A deal between Warner Media and Discovery has also been struck to combine content and compete with Netflix and Disney.
AT&T has 98 companies under its umbrella and some of them include:
Providing entertainment to its audience, having a powerful vision and acquisition has got the Walt Disney Company where it is today. Disney also defines the world of animation. Back in 2019, it officially acquired 21st Century Fox. Now the media giant holds under these three categories various companies:
Disney media and entertainment distribution
Disney+, ESPN+, Hulu, Hotstar, Disney Music group
Disney Studios
Studios include Walt Disney Studios; Walt Disney and Pixar Animation Studios, and Pixar Animation Studios. Marvel Studios. Lucasfilm, Disney theatrical group, 20th-century studios. Searchlight Pictures.
General entertainment
20th television studios, ABC entertainment; the ABC-owned television stations group, ABC News, ABC signature, Disney-branded television, freeform, FX, Hulu originals; National Geographic. The Walt Disney Company’s cable channels, ESPN+, and ABC.
The amount of control over these companies by Disney depends upon the percentage of ownership it has over them.
Most of Disney’s revenue is generated from:
Media networks
Park and resorts
Studio entertainment
Consumer products and interactive media
Netflix
Founders
Reed Hastings, and Marc Randolph
Founded in
1997
Headquarters
Los Gatos, California, U.S.
Revenue
$31.6 Bn (2022)
CEO
Ted Sarandos
Biggest Media Company | Netflix
You can’t think of media without adding Netflix next to it, such as the established position it has acquired in the minds of everyone. Netflix changed the game when they introduced a subscription model in the year and no doubt is the competition of all the new platforms coming in wanting to not miss out on the streaming revolution that is making rounds.
Starting as a DVD-by-mail business in the year 1997, it changed its business model over time. The revenue comes in from the subscription fees from the members; it had 192.95 million paid subscribers, according to reports from the second quarter of the year 2020. Another study revealed that most of its users are from the U.S. and Canada in 2021. As of now, it has over 231 million paid subscribers.
Lastly, keep in mind that Netflix is exploring new areas and aiming to expand its empire in gaming. Releasing five games back in November, which are available on iOS and Google Play Store, Netflix is slowly taking the company to another level as it plans to release three new mobile games globally.
Alphabet Inc.
Founders
Larry Page, and Sergey Brin
Founded in
2015
Headquarters
Mount View, California
Revenue
$76 Bn (2022)
CEO
Sundar Pichai
Biggest Media Company | Alphabet
Alphabet Inc. the parent company of Google, was established in the year 2015, and co-founded along with Sergey Brin, who also serves as the Director, to make the core business of Google cleaner and more accurate. Alphabet Inc. identifies as a company that falls under the computer service industry. The holding company includes segments of Google: Google services, Google Cloud and Google Workspace.
Google is involved in businesses like:
Engagement in advertisement
Sales of digital content
Applications
Cloud offerings
Not to forget its hardware products, which are:
The pixel phones
Chromecast with Google TV
Google Nest Hub smart display
Apart from this, Alphabet Inc. is also engaged in other segments. The most recent buzzing news is about the deal Verizon Communications signed with Alphabet Inc’s Google Cloud to use its 5G network, its computing powers, and more.
Comcast Corporation
Founder
Ralph J. Roberts
Founded in
1963
Headquarters
Philadelphia, Pennsylvania
Revenue
$121.43 Bn (2022)
CEO
Brian L. Roberts
Biggest Media Company | Comcast
Comcast Corporation, the biggest cable TV and broadband provider company, has been a part of many firsts in history. David Sarnoff founded the first permanent radio network, NBC, in the year 1926, which brought the Olympics to the world with NBC covering it.
In 2010, they opened the doors to the Wizarding World of Harry Potter. In 2018, Xfinity became the largest Gigabit Internet Provider in the United States in more than 58 million homes, which was faster than any other internet service provider at that time. 2020 had been the best year for Comcast for its broadband. And apart from this, some recent acquisitions in the past few years by Comcast include:
Sky
DreamWorks Animation
NBCUniversal
They have also launched Peacock, Xfinity Flex, xFi, and more. The media and technology company also has won broadcasting rights for the Olympic games 2032 back in 2014.
Charter Communications
Founders
Barry Babcock, Jerald Kent, and Howard Wood
Founded in
1993
Headquarters
Stamford, Connecticut
Revenue
$54 Bn (2022)
CEO
Tom Rutledge
Biggest Media Company | Charter Communications
Charter, which is a broadband and cable operating company, has served over 32 million customers with the help of its brand Spectrum. The services provided by Charter Communications Inc. are further divided into:
Spectrum networks
Spectrum Original
Spectrum Reach
Spectrum Business
Spectrum Enterprise
With more than 30 Spectrum Networks Delivering Local News and Sports. It aims to be the broadband provider of the future that is fast and secure.
The United States media industry is dominated by a handful of large conglomerates, including The Walt Disney Company, Comcast, AT&T, ViacomCBS, and Discovery, among others. These companies control various media outlets such as television networks, movie studios, streaming services, and publishing houses, enabling them to reach millions of people every day.
While this concentration of power has led to concerns about media diversity and competition, these companies have also played a significant role in shaping American culture and influencing global media trends. As the media landscape continues to evolve and new technologies emerge, these companies will likely remain major players in the industry for years to come.
FAQs
What are the 5 biggest media companies?
Some of the biggest media companies are:
Comcast
AT&T
Walt Disney
Netflix
Alphabet
Which is the biggest media company in the US?
Comcast is the biggest media company in the U.S.
Who Owns the Media in the U.S.?
U.S. media outlets are owned by 15 billionaires and six corporations.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by AT&T
Telecommunication has made a positive impact on society by helping businesses grow their network. It makes long-distance communications easier via electronic modes. Though we are living in a global village where even America is just a phone call away, the beginning stages of telecommunication were not that easy. AT&T company is the descendant of the American Telephone and Telegraph Company which holds the pride of connecting most parts of America via telephone networks.
AT and T company’s origin dates back to 1876 when Alexander Graham Bell first invented the telephone. He secured a patent for the device when he first made the wire transmission of intelligible speech. In 1877, a year after the invention, he and two other investors Gardiner C. Hubbard and Thomas Sanders, formed the Bell Telephone Company. Later, in the next year, they sold it to a group of financiers. The Bell company was already in a race with the leading telegraph company, Western Union Company, regarding the development of telephone services. In 1881, Bell bought Western Electric, the leading maker of telegraphic equipment, and became the most dominant manufacturer of telephone equipment.
During most parts of the 20th century, AT and T ruled the phone service of the United States as a monopoly. The Bell Telephone company formed American Telephone and Telegraph Company as a subsidiary company in 1885. In 1899, American Bell Company transferred its assets to its subsidiary, resulting in the formation of AT&T as the parent company. The company was rebranded as AT and T Corp. in 1994.
AT&T – Industry
The telecom industry in the United States is valued at $412.4B in 2021 and is expected to grow at higher rates in the upcoming years. Telecom companies are competing to become the fast-paced, greater network in the global market. To succeed companies are taking equal efforts in understanding customer needs worldwide. Global needs are constantly changing and industry knowledge and updation are necessary to survive the position. Currently, omnichannel strategy and extensive technology investments are mandatory as the growth is rapid like 5G.
AT and T is the world’s largest telecommunication company in terms of revenue. It is also the third largest company in providing mobile telephone services. The revenue from the sector is likely to increase by 17% per annum as per the reports.
AT&T – Founders and Team
AT&T was founded by Alexander Graham Bell, Thomas A. Watson, and Gardiner Greene Hubbard in 1875. AT&T underwent a lot of transformations and reformations between 1982 and 2004.
AT&T Founders – Alexander Graham Bell, Thomas A. Watson, Gardiner Greene Hubbard
Alexander Graham Bell
Graham Bell is an inventor, scientist, and engineer who invented the practical telephone. He is the co-founder of the American Telephone and Telegraph Company (AT&T) in 1885. He started the idea of establishing the company immediately after getting the patent rights for the telephone. He grew the idea and the company along with two other investors.
Thomas A. Watson
Born in Massachusetts, United States, Thomas A. Watson was a bookkeeper and a carpenter before Alexander Graham Bell hired him. He is known for the invention of the telephone. Being the recipient of the first phone call, his name was the first ever word said on the telephone. Watson took great pride in his role as an inventor, having developed numerous telephone accessories that helped to enhance the user experience.
Gardiner Greene
Gardiner Greene Hubbard was an American lawyer, financier, and community leader. He was the co-founder and the first president of the Bell Telephone Company which was later known as AT and T. He was also the founder and president of the National Geographic Society.
AT&T – Startup Story
AT and T company started as Bell telecommunication company when the telephone was first introduced. In 1885, Bell became an American Bell Telecommunication company, and AT&T company was formed as one of its subsidiaries. In 1899, AT&T acquired the assets of its parent company. It established a network of local telephones along with all its subsidiaries in the United States and became a monopoly in the sector. The monopoly continued mostly through the twentieth century. The Bell system was also known by the nickname Ma Bell.
Later, in 1982, the US regulators broke up the AT&T monopoly by grouping them into seven individual companies. These new companies were called Regional Bell Operating Companies, informally Baby Bells. AT&T continued to operate successfully in providing long-distance services despite the increasing overseas competition.
SBC (Southwestern Bell Corporation) was one of the breakups of AT&T. SBC made a series of acquisitions in the late 80s and early 90s. The acquisitions include Metromedia mobile business and several cable companies. When SBC acquired 2 baby bells and several other telecommunication companies in the latter part of the 1990s, the company changed its name to SBC Communications Inc., Later, in 1998, the company was in the top 15 of the Fortune 500. In 1999, AT&T was part of the Dow Jones Industrial Average.
AT&T purchased its former parent and other companies between 2005 – 2013. Though it follows the corporate structure and stock price histories of SBC from 2005, it claims its original history dates to 1877. Following several acquisitions and rebranding including DirecTV and several other satellite channels, AT&T reorganized itself into four main units. The units are,
Communications
AT&T Mobility
Film and Television Production
Advertising and Analytics
AT&T – Mission and Vision
AT&T had various plans in the sector from 2013 when they settled clearly as a top service provider in the US. They planned various launches including the satellite-operated HBO television which got launched in 2020. They invested and divested various capital to diversify the company. Now, they are an unbeatable top company in the industry.
The mission of AT&T is “Innovate and get there first”. The company’s mission statement includes the purpose, value, and goals of the business.
Their vision says “We aspire to be the most admired and valuable company in the world”. By enriching and making the lives of people easier, they bring the most exciting modes of communication to the market.
AT&T – Name and Logo
AT&T Name and Logo
AT&T was formerly known as Bell company. AT and T stand for American Telephone and Telegraph Company. As a credit to the founders, AT&T had a logo of a bell in its early stages which was later reshaped into an emblem.
AT&T – Business Model
Though AT&T has various operations and businesses, the mainstream income is from communication operations. They provide various kinds of telecommunication services which include wireless services, TV Broadband, and much more. The acquisition and provision of assets and businesses usually go into the rebranding expenses.
AT&T – Revenue Model
AT&T is a top service provider in the telecommunication sector. It derives its income from various sources, including the wireless phone business, broadband, and TV operations. The revenue generally flows from subscription mobile, fixed-line, and wireless broadband services.
Setting up AT&T Internet
AT&T – Employees
As of January 2022, AT&T had 2,03,000 employees. This count has declined by 11.74% since then. The higher officials have taken steps to keep the door glass by providing a friendly atmosphere and embracing actions to improve the value of employment. AT&T is a job grind with a 90% turnover rate in the first year of employment. AT&T employees get the benefit of accessing the services of their company at a discounted price and also access to television options like HBO Max, and STARZ at no extra cost.
AT&T – Challenges Faced
Like every other sector, telecommunication also has its pros and cons. AT&T has also faced many challenges and struggles to reach the position of the largest company. The three major challenges faced by the company are,
Defending the Time Warner merger, and convincing the regulators
Defending its zero-rating strategies. By offering data-free consumption of DirecTV on mobile and home devices, it became an unfair strategy to other streaming companies like Netflix
The struggle to keep the debt level under control even after the acquisitions
AT&T – Funding and Investors
The company goes through funding rounds frequently to get some funds to run the company network smoothly. The recent funding round in Jan 2023 has a fundraising of $2,200,000 from the Kansas Office of Broadband Development.
AT&T – Mergers and Acquisitions
The company has a greater history of acquisitions. The total acquisitions of AT&T are 32 till now. The latest and key acquisitions are listed below.
Acquisition
Acquired Date
AlienVault
July 2018
AppNexus
June 2018
Fiber Tower
Jan 2017
Iusacell
Nov 2014
Nextel Mexico
Jan 2015
AppNexus
June 2018
NextWave Wireless
2005
Centennial Wireless
1988
AT&T – Awards and Achievements
AT&T has won the J.D. Power 2021 Business Wireline Satisfaction Award for large enterprises and medium businesses for the second straight year.
Since 2017-2021, the company has been recognized as the No. 1 telecommunications company, based on factors such as innovation, social responsibility, and human capital management.
AT&T Business also won the 2020 Company of the Year Award for the Global Cellular Internet of Things (IoT) Industry, Excellence in Best Practices. Frost & Sullivan, a business consulting firm, granted the award to recognize AT&T Business for visionary innovation, market-leading performance, and unmatched customer care.
AT&T – Competitors
The company is a multinational holding business and has the biggest mobile telephone services. This calls for competitors all over the world. Here, is a list of leading competitors for AT&T to know about.
The company has strong growth potential due to its competitive performance in the current macroeconomic environment. In 2022, AT&T shares have climbed an increasing stream of 3.9%. By 2025, 75% of its network footprint will be served via fiber and 5G. It will also have reduced its copper services footprint by 50%.
FAQs
Who is currently the CEO of AT&T?
John T. Stankey is the CEO of AT&T since July 1, 2020.
What is AT&T used for?
What is AT&T used for?AT&T Inc (AT&T) is a provider of telecommunications, media, and technology services. The company offers wireless communications, data/broadband and internet services, local and long-distance telephone services, telecommunications equipment, and managed networking.
How much debt does AT&T have?
The long-term debt for the quarter of September 2022 was $123.854B.
Which is the largest acquisition for AT&T?
The largest acquisition of AT&T to date is WarnerMedia for $108.7B in 2016.
Company Profile is an initiative by Startup Talky to publish verified information on different startups and organizations. The content in this post has been approved by Verizon Communications.
It was just a decade or two back when everything was done manually. Even communicating with somebody was a tedious process. However, technology boomed, and very soon, email, mobile phones, and the internet transformed the scene.
Talking to someone far off is now a matter of seconds. The communication industry started thriving, and that meant new and better players were entering the arena. Verizon Communications is one of the older communication giants that exploited this change in the scenario.
The company tasted success as it innovated with the changing times. Here we will tell you more about Verizon communications journey and the efforts it made.
Verizon Communications is a telecommunications company having its headquarters in Manhattan, New York. It was founded as Bell Atlantic when the Bell group of companies was divided into seven separate units. At that time, the company was headquartered in Philadelphia.
At present, Verizon’s mobile network coverage is the largest in the USA. It has around 120.9 million subscribers. The company also sponsors many sports events like National Hockey League, National Football League, Motorsports, USA team handball, etc.
Verizon Communications – Industry
Verizon Communications is one of the top players in the telecommunications industry. With the entry of 5G networks, the industry is literally booming. The global telecommunication market was valued at $1.74 billion in 2021. It is also expected to grow at a CAGR of 5.4% through 2020-2027, reaching nearly $2.66 billion.
In the future, the industry will be governed by increased mergers and acquisitions. Even during the recession, the telecommunications industry did not lose revenue. That implies the sectors’ growth will remain stable no matter what happens.
With other markets like China and India entering the fray, the industry is upping its standards. Hardware producers are creating better products and keeping up with the demand in the market.
Verizon was formed after the merging of Bell Atlantic and GTE on 27th July 1998. The Verizon brand was launched in April 2000, and the company Verizon communications started its operations in mid-2000. At that time, Charles R Chuck Lee and Ivan Seidenberg assumed co-CEO positions for the company.
Charles R Chuck Lee
Charles R Chuck Lee
Charles Lee grew up on a farm in Wexford and obtained his Bachelor’s degree in Metallurgical training from Cornell University. After doing his MBA from Harvard University, he went back to Pittsburgh. After working at Columbia Pictures Industries Inc and Coca-Cola Co, he joined GTE in 1983.
He was elected the president and director of the company in 1988 and became the CEO in 1992. When Verizon Communications was formed in 2000, Charles Lee assumed the Co- CEO position.
Ivan Seidenberg
Ivan Seidenberg
Ivan Seidenberg’s telecommunications career started with New York Telephone as a mere splicer. Moving on, he was considered for the co-CEO post for Verizon communications limited in 2000. He was then appointed the CEO and then the chairman of the company.
Seidenberg retired in 2011 though he still continued to serve as chairman and part of the board of directors for the company.
Verizon Communications – Startup Story
GTE, in 1984, was one of the leading telecommunications companies in the market. In 1984 AT & T created seven regional holding companies. Bell corporation was created out of one of these companies.
In 1996 it was announced that Bell Atlantic and NYNEX would merge. This would make the company the second-largest telecommunications brand. The merger was completed in 1997, and Bell Atlantic expanded itself globally.
On the other hand, GTE corporation merged with Contel corporation keeping its name intact. After NYNEX, Bell Atlantic merged with GTE, and this led to the formation of Verizon Communications.
Verizon Communications – Mission and Vision
Verizon Communications’ vision statement is as mentioned below:
“To inspire tomorrow’s creators to use technology to build brighter futures for themselves, their families, and the world.”
Their mission statement is known as Verizon Promise and is as follows:
“We deliver the promise of the digital world to our customers. We make their innovative lifestyles possible. We do it all through the most reliable network and the latest technology.”
Verizon Communications – Name, Tagline, and Logo
Verizon Communications’ tagline is catchy and created with a desire to be unique:
Can You Hear Me Now? Good.
Verizon Previous Logo
The Verizon logo was created in 2000. Prior to that, the versions featured the original company’s name. For the logo, the agency created a wordmark showing the new company’s name. On top of that was a big red mark like a check.
The Z of Verizon was zoomed and larger than others. Only z and the checkmark were created with red color. The rest of the alphabet was in black color.
Verizon Recent Logo
Post-2015, a new logo was created where the checkmark was reduced in size. Only the check mark was red, while the other alphabets were black. The gradient was also removed in the new logo.
Verizon Communications – Business Model
Initially, the company faced some problems. A majority of its profitability comes from the US market. However, it also operates in almost 40 other countries with around 200 call centers. The company operates in three segments.
Wireless
This includes wireless voice, data services, and equipment sales. The revenue in this segment comes from both postpaid and prepaid connections. Some services that the company provides in this segment are Mobile wi-fi, 5G, USB modems, etc.
Wireline
This segment comprises voice, data, video communication and services, and broadband data services.
Corporate and other segments
Under this segment come Verizon’s telematic business, Verizon Connect, and other small businesses.
Verizon Communications – Revenue Model
Verizon’s revenue for the third quarter of 2022 was $34.241 Billion. This was a 4.03% increase since last year. Its overall revenue for the year 2022 was $135.651 billion. Again, this figure showed a hike of 1.05%.
Verizon Communications – Employees
Verizon Communications considers its employees in very high regard. That is why taking care of their health and well-being remains an essential factor. Here are some benefits that the company provides:
Free flu shots and health screenings for health issues
Mammography screenings at the office
One -on one coaching sessions with health experts
Charity and community events
Corporate events
My health vault app for employees to know their health parameters regularly
Verizon Communications – Challenges Faced
Inflation and consumer pressures create a challenging situation for Verizon Communications. Consumers easily switch from one carrier to another if they get a chance. Verizon has had to work to retain its existing base, so the number of switchers is less.
The company faces threats from its competitors like AT&T and T-Mobile. These companies are in a constant tussle, and Verizon must offer a unique idea to gain a strong foothold.
Lastly, the company faced issues of data leakage in 2017 due to a misconfigured cloud server and did not want another similar situation to arise. During the outage, the company lost the trust of its customers, and another setback could be damaging.
Details of Verizon Communications’ Funding and investments are as mentioned below in different tables.
Fundings
Announced Date
Transaction Name
Number of Investors
Money Raised
Sep 16, 2022
Grant – Verizon
1
$11.5M
Jul 11, 2022
Grant – Verizon
1
$78K
Mar 18, 2022
Grant – Verizon
1
$11.8M
Feb 28, 2014
Post-IPO Equity – Verizon
—
$21.3B
Mar 1, 2013
Post-IPO Equity – Verizon
—
$3.8B
Mar 5, 2012
Post-IPO Equity – Verizon
—
$3.8B
Mar 4, 2010
Post-IPO Equity – Verizon
—
$1B
Jan 26, 2010
Post-IPO Debt – Verizon
1
$150M
Jan 20, 2004
Grant – Verizon
1
$170.4K
Jan 29, 2002
Grant – Verizon
1
$141.1K
Investments
Announced Date
Organization Name
Funding Round
Money Raised
Apr 18, 2022
Casa Systems
Post-IPO Equity – Casa Systems
$40M
Feb 3, 2022
Imanyco
Grant – Imanyco
$50K
Mar 1, 2021
Parrots
Funding Round – Parrots
—
Jan 29, 2020
Lexset
Grant – Lexset
$250K
Jan 24, 2020
Byte Back
Grant – Byte Back
$100K
Sep 20, 2019
Juncture Media
Seed Round – Juncture Media
$400K
Sep 20, 2019
Colorfiction
Grant – Colorfiction
$400K
May 1, 2017
Renovo Auto
Venture Round – Renovo Auto
$10M
Dec 8, 2015
Bounce Imaging
Grant – Bounce Imaging
$1M
Mar 10, 2015
Pursuit
Grant – Pursuit
$1.8M
The lead investors for Verizon Communications are Connect Maryland, the American Rescue Plan, and the US Department of Defence.
Verizon Communications – Mergers and Acquisitions
The mergers and acquisitions that Verizon Communications has gone through are roughly 33 in the count. Some of the most recent acquisitions are dated below:
Acquiree Name
Announced Date
Price
Senion
Jun 21, 2021
—
Incubed IT
Feb 16, 2021
—
Bluegrass Cellular
Oct 19, 2020
—
TracFone Wireless
Sep 12, 2020
$6.9B
BlueJeans Network
Apr 16, 2020
—
Jaunt
Sep 30, 2019
—
ProtectWise
Mar 1, 2019
—
Vidder
Nov 16, 2018
—
Moment
Apr 19, 2018
—
Niddel
Jan 5, 2018
—
Verizon Communications – Growth
Though the telecommunications industry had slow growth, Verizon Communications maintained the pace. In the third quarter of 2022, it grew by 1.4%. This was when the communications industry was down by -8.74%.
The sales for the company in the third quarter were high by 1.34%. This is in comparison to their second quarterly sales. Annual sales growth for Verizon Communications remained at 0.74%, and the average yearly sales growth for the past five years is 11.93%.
Verizon Communications – Advertisements and Social Media Campaigns
Verizon Communications devotes a considerable spend of its marketing budget to advertising. Their latest commercial features Paul Giamatti and Cecily Strong and focuses on holiday cheer.
It showcases the Uncle Scrooge story, where Giamatti plays the lead character. He is unable to find the network, but Cecily appears and asks him to switch to Verizon. The ad emphasizes their free 5G smartphone offer. Watch the commercial here:
Verizon Communications – Awards and Achievements
A few awards that Verizon Communications has received over the years are:
For the 16th time, Verizon won the best network award decided by RootMetrics
Last year Verizon was in the top 100 companies considered best for employees
The HACR Corporate Inclusion Index rated them a five star
Verizon Communications was at rank 12 in the JUST Capital 2022 Workforce Equity and Mobility Ranking
RootMetrics also judged Verizon’s 5G network as the best for the third time.
Verizon Communications – Competitors
Verizon is a strong player in the communications industry. Its competitors are:
AT & T
T Mobile
Aeris
Kore Wireless
Vodafone
Sierra Wireless
Cisco
Telit
Rogers
ORBCOMM
Itron
Verizon Communications – Future Plans
The future of the communications industry is 5G, and that is what Verizon is focussing on. Verizon expects to achieve 1 Gbit speeds by 2024. For this purpose, they would be spending $10 billion per year.
Apart from that, the company hopes to cover 50 million households with their fixed wireless internet by the end of this time period. This would, in turn, generate more than $1 billion in revenue.
Conclusion
Verizon Communications is a big telecommunication company in the US also known to provide its services worldwide. The firm was started by the merger of Bell Atlantic and GTE company in 1989.
However, the name Verizon was introduced in 2000. The company is headquartered in New York City and has good competition from AT&T, Aeris, Vodafone, etc.
FAQs
Who is the current CEO of Verizon Communications?
The current CEO of Verizon Communications is Hans Vestberg. He took over this position on 1st Aug 2018.
Who currently owns Verizon?
Verizon is currently owned by Verizon Communications Inc.
Did Verizon and AT&T merge together?
Not exactly, AT&T acquired a license from Verizon Wireless and some of its part. Apart from that, both firms are independent of each other.
Is Verizon changing its name?
The name Verizon was appointed after the merger of Bell Atlantic and GTE firm. The merged company was renamed Verizon in 2000.
