How Much are Consumers Willing to Pay for 5G Service?
October 31, 2018
As the wireless industry pushes ahead with 5G efforts, one concern has been the business case for the next-generation technology.
A new survey from PwC on consumer opinions related to 5G technology found that one-third of respondents said they’re willing to pay more for 5G if it delivers on its promise, particularly in terms of increased speed.
Notably, respondents were more likely to pay additional costs for 5G internet service in the home (33 percent) compared to mobile internet (31 percent). Those figures shifted when taking age into consideration, with 37 percent of consumers under 40 years old saying they would pay extra for in-home 5G service and 38 percent saying the same for mobile 5G.
Consumers also said they would pay more for in-home 5G broadband, on average willing to cough up an additional $5.06 per month, compared to $4.40 extra per month for mobile.
PwC noted that as most customers are less satisfied with their current in-home internet service and agree they are overpaying (51 percent agree) compared to mobile (36 percent). “What’s a marginal increase in price for a significant improvement in service?” PwC stated in the report.
Verizon is leading the charge among major wireless carriers for next-generation home internet, launching its fixed wireless 5G in-home broadband offering in four cities at the beginning of October, as the other top carriers have been focused on forthcoming mobile launches.
Read more at ECN Magazine