As of 2023, Verizon owned 10.7 million internet connections in the United States. However, based on Verizon’s fourth quarter results of 2024, the big internet provider added 408,000 new internet subscribers (Fios and 5G), bringing the total of connections to over 12.3 million. And it’s going all in with huge investments to expand its home internet services.
Verizon’s CEO Hans Vestberg, told investors in 2024 about “ambitious targets.” His plan to acquire Frontier came to fruition just recently as did his statement that, “This is a game changing moment for Verizon.” Verizon’s current goal for its 5G internet network is to double its 5G network base to eight or nine million fixed wireless connections over the next four years.
Following its $20 billion deal in May 2025 to acquire Frontier (another huge fiber internet provider with five million customers), Verizon has massive plans to level up and grow Frontier’s existing fiber infrastructure. Plans include boosting its fiber network to 35 to 40 million homes in that time—with a target of 650,000 new homes annually over the next four years.
This merger also marks Verizon’s moment to reclaim some of the Fios fiber internet connections it sold to Frontier in 2015. Brendan Carr, FCC Chairman, also shared that the merger will bring fiber to more rural communities as well.
According to the map from Frontier's second quarter 2024 results press release and investor presentation, Verizon Fios (red color) and Frontier (blue color) combined will reach 25 million and 31 states plus Washington D.C.
Verizon was the first internet provider to debut its 5G home internet service in October 2018. Sacramento, Los Angeles, Houston, and Indianapolis were the first states to test it out. Verizon 5G currently operates on millimeter wavelength (mmWave) 5G technology that performs at radio frequencies of around 28 GHz and 39 GHz.
To support the expansion of Verizon’s 5G internet network, it plans to lean in to the power of its C-band and mmWave spectrum technology. In a nutshell, these two technologies complement each other as C-band offers wide coverage and seamless performance, while mmWave provides high speeds. Verizon plans to continue its 5G expansion using this new C-band equipment on macro cell towers as well as deploying the new 5G Ultra Wideband service using small cells. It plans to grow its 5G base to a total of 90 million households by 2028. In the company’s Q3 earnings call, CEO Hans Vestberg stated, “... we build the network once. And then … we decide what type of connections we have.”
Verizon remains committed to providing more internet to rural areas.
In 5G expansion news, T-Mobile recently asked the FCC to hold off on a planned $9 billion program to expand rural 5G coverage. Verizon opposed the request in hopes that more locations could be eligible for funding.
In fiber expansion news, the $42.5 billion Broadband Equity, Access, and Deployment (BEAD) program is ready to provide funds for some new fiber networks. In Verizon’s BEAD letter of intent from November 2024, Verizon shares that it has already deployed Fios to parts of 45 counties and cities in Virginia including fiber projects in Bedford, Caroline, Greensville, and Price William counties. This letter goes on to list 133 Virginia counties and cities that Verizon might serve with more internet access under the BEAD program (from Accomack County to York County).
In Delaware, Verizon received all the BEAD funding available to that state. In December of 2024, the Delaware Broadband Office awarded Verizon and Comcast $17.4 million (with a total of $107 million in BEAD funding) with the goal to serve more than 5,600 homes and businesses. Kent, New Castle, and Sussex counties are slated to get service. In addition to this BEAD funding, Comcast, Verizon, and Mediacom also received the American Rescue Plan Act (ARPA) funding to connect 6,200 additional locations with $33 million.