Verizon will need a lot of help if it wants to be the internet and cable companies are on the brink of a major restructuring.
A new report suggests that the carrier is now planning to re-price its entire video and wireless services as well as its phone and tablet services, in order to avoid cannibalizing the other big players in the market.
The move comes as the company faces criticism from some quarters over how it handles data usage and the pricing of its prepaid services, which have historically seen little to no competition.
Verizon CEO Lowell McAdam told investors in March that the company was “moving aggressively” in that space, but it appears to be more of a slow-burn change.
“The plan is to be a big, bolder, bold competitor in the video and mobile space,” McAdam said.
While Verizon’s move to reprice video and phone services may sound simple, it could potentially have significant implications for the wireless industry.
Wireless carriers have been facing pressure in recent years to increase their video and voice rates in an attempt to compete with wireless and cable providers, which are increasingly demanding a bigger share of the market as the internet matures.
According to a report from MoffettNathanson, Verizon is now aiming to price its mobile service, Voice, for the same price as its video service, calling it “the most aggressive” pricing scheme yet.
In a note to investors, the investment bank said Verizon’s plan is “likely to impact the pricing landscape significantly” in the future.
To understand Verizon’s reasoning for reordering the mobile and video services, Mashable looked into how the carrier had previously priced its phone plans, the video-only service and the wireless broadband service.
For its mobile plans, Verizon has been increasing the price of each service on a per-minute basis since 2014, when it launched its smartphone plans, which it began charging at $20 per month.
This year, Verizon will continue charging for its basic service for another year, and will increase its video plan price from $15 per month to $20 a month.
It also will increase the price for its mobile broadband plan from $40 per month for the basic plan to $50 per month, and it will increase rates for its phone plan from 8GB to 12GB for the next three years.
Mashable reached out to Verizon for comment and will update this story when we hear back.