Verizon Remains Pleased With Heavy C-Band Bet

Verizon remains enthusiastic about its choice to invest heavily in C-band spectrum during the 2021 auction, Joe Russo, president-global networks and technology, said at the Scotiabank financial conference Tuesday. Verizon went big in the C-band auction, bidding $45.4 billion, plus $8 billion in incentive costs to satellite operators (see 2102250046). C-band has “great propagation characteristics,” Russo said. “And the usage of that C-band spectrum has just been exploding as more and more customers get access to it and more and more customers buy our premium plans with premium devices.” C-band also gives Verizon the capacity to offer fixed wireless access, he said. Russo said FWA requires “really good modeling around RF propagation” and “really great capacity management capabilities.” Verizon has focused on both. Moreover, its mobile network remains Verizon's top priority, with FWA possible where it has excess capacity, he said. The average 160 MHz of C-band Verizon has in each market gives the carrier lots of capacity, he said. Russo noted its FWA product offers 300 Mbps service. “When we look at even peak volumes that come out of a consumer's home, even the biggest homes with streaming and gaming and all these kinds of things, customers are using far less than that,” he said. Peak demands for top tier fiber and FWA customers average 100 Mbps or less, he said. Verizon now has more than 3 million FWA customers, with a goal of 5 million-6 million by the end of next year, which means about 350,000 adds per quarter, Russo said. “We're well ahead of that pace.”