That sound Verizon executives hear coming up fast behind them? That’s T-Mobile. The nation’s second-largest wireless provider reported 538,000 net new postpaid phone subscribers for the first quarter. That was more than AT&T and Verizon combined. But don’t blame the former as AT&T had 424,000 net new subscribers in this all-important category during Q1 while Verizon lost 127,000 subscribers.
And recently T-Mobile shook things up with its new Go5G plans which allow new and existing customers to upgrade to a new phone every two years instead of every three years as is the industry standard these days. But there is some rumbling per The Mobile Report that Verizon, still the leading wireless carrier in the U.S., will introduce new options for subscribers under the name “myPlan.” Options will reportedly include Unlimited Welcome and Unlimited Plus. These will replace all current Verizon Unlimited plans according to the rumor.
Verizon already has a plan called Unlimited Welcome which is the bottom-tier plan available to subscribers. It includes unlimited 5G data, 480p streaming, and a price of $65 per month for a single line. Unlimited Plus would include unlimited Ultra Wideband 5G data, 720p streaming, 30GB hotspot, a 3-year price guarantee, offers on premium devices, and a price of $80 per month for a single line. That price would match the current cost for the current Play More and Do More plans. There will be discounts for multiple lines on a single plan.
Now according to the rumors, the “myPlan” branding means that subscribers would get to choose which perks they would receive. For example, depending on the Verizon unlimited plan you currently have, you can get for free the popular Disney+ bundle, Apple Arcade, or Apple Music, But, and this is a big but, under “myPlan,” subscribers would have to pay $10 per month for each perk they choose. If Verizon hopes to stay ahead of T-Mobile, this would be a huge mistake. This is the most un Un-carrier move ever made.
Now that’s not to say that there isn’t value in some of these rumored freebies. Verizon says in leaked images that the 100GB of mobile hotspot connectivity it is offering for $10 per month would save subscribers $35. But the point of T-Mobile’s perks is to keep the subscriber from having to pay extra for them. This move may not go down with subscribers as Verizon figured it might. For example, paying $10 per month for a Walmart membership would save a Verizon subscriber less than $3 per month after paying $10 a month extra.
Verizon could announce the new plans as soon as this Monday, May 15th and current Unlimited plan subscribers will surely be allowed to keep their current plans and perks for now. But Verizon, once you start forcing current subscribers from their current plans, you might see an exodus that will have you pining for the Q1 postpaid phone debacle.
