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HBO Max is the center of everything Stankey and his team have been building toward. Not everyone is on board with that bet. Stankey is fighting an uphill battle. The market is filled with streaming services, and every corporation under the sun seems to want to launch one.
When Hans Vestberg was chosen as CEO in , taking over for Lowell McAdam, it sent a clear message: Verizon was more focused on its wireless business than trying to break through in the film and television industry. Vestberg was a network guy through and through; he led Ericsson for a handful of years as CEO, though he was eventually ousted for subpar results.
Undeterred, he joined Verizon as chief technology officer in April and managed to land the CEO job 16 months later. And in exchange for that superior service, Verizon has traditionally charged more money than its rivals. Verizon spent years acquiring various media giants in an effort to build its own empire. A big part of the reason that Verizon acquired AOL was because of its ad tech platform, and under Vestberg, Verizon has continued to build out ad tools that take advantage of its control over both AOL and Yahoo.
Under McAdam, Verizon invested hundreds of millions of dollars into its own streaming service — Go90 — designed to attract teenagers and somethings spending more time on their phones. But Go90 failed spectacularly. Telco companies are betting on different strategies with the goal of creating their version of a sustainable future. Vodafone is entering adjacent markets. And Verizon has their sights set on delivering the best network experience. Its aim is to directly distribute content to the million customers across their wireless, wireline, and satellite systems.
Concurrently, the carrier plans to deploy and launch a new 5G network nationwide. While Verizon leverages their acquisition of Yahoo, their differentiator focus remains building the absolute best network. It is impossible to predict which of the two differing strategies will prevail. Some things, however are clear. The mobile industry is saturated and wireline and cable customer growth is flat or declining.
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