Verizon (VZ) has an unpleasant surprise for customers after it recently suffered a significant loss.
In February, Verizon officially increased the monthly prices of its myPlan and New Verizon Plan wireless accounts in response to “rising operational costs,” which angered customers.
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It also later hiked the price of its Verizon Mobile Protect Multi-Device plan and Verizon Mobile Secure Multi-Device plan by $8, which applied to wireless customers with four to 20 lines.
Related: Verizon announces wild new offer to win back angry customers
In April, Verizon revealed that during the first quarter of the year, it faced a net loss of 289,000 total postpaid phone customers. According to analysts at New Street Research, this loss matches Verizon’s “worst result on record.”
During an earnings call in April, Verizon CEO Hans Vestberg admitted that recent price increases contributed to the recent decrease in customers during the quarter.
“We did have a slow start on postpaid phone net adds, largely driven by elevated churn due to recent price ups and pressure from federal government accounts,” said Vestberg.
Verizon customers may lament the loss of this perk launched in 2022.
Image source: Mordant/Bloomberg via Getty Images
Verizon makes a harsh decision
After seeing waning consumer demand for its phone services, Verizon is cutting a huge perk to help repair this loss.
The phone carrier has decided to cut the cord on its free +Play service after launching it in 2022.
This service allows Verizon customers to purchase and manage their streaming subscriptions in one place, providing convenience by removing the need to navigate multiple websites to start, pause, or cancel subscriptions.
Verizon customers with select phone plans could even add on the service for $10 a month to obtain a $15 monthly credit toward their bundled streaming services.
Related: Verizon makes bold move to make it harder for customers to leave
A new notice on Verizon’s website warns customers that +Play will officially discontinue next month.
“On or after 7/9/2025, +Play will no longer allow new subscription enrollments,” said Verizon in its website. “You can still keep and manage any active +Play subscriptions. To shop for new content subscriptions, check out myPlan and myHome perks available at Service & Perks.”
Verizon’s myPlan and myHome perks offer bundled streaming services to its customers at discounted monthly prices. Cutting +Play and redirecting customers to these perks is a good way for Verizon to shore up more mobile and internet customers.
Verizon’s latest move could help reverse a startling consumer trend
The move is also a good tactic to attract more frugal consumers to paid streaming platforms. Recently, many consumers have begun cutting the cord on paid streaming services amid consistent price increases.
According to a recent survey from digital security firm All About Cookies, 84% of people have canceled a streaming subscription in the past. While 44% of the survey’s respondents said that price increases led them to this decision, 30% said they canceled because they barely use the streaming service, and 29% said the streaming service was too expensive.
More Retail:
Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersAT&T makes generous offer to older customers
Amid this alarming trend, free streaming platforms are beginning to pose a major threat as they have recently grown in popularity.
For example, Paramount, which owns PlutoTV, revealed during an earnings call in May that PlutoTV “delivered its highest consumption ever” during the first quarter of 2025.
Fox also revealed during an earnings call that same month that its free ad-supported streaming platform Tubi faced “accelerating growth” during the quarter.
