Verizon (NYSE:VZ) is changing how it sells cable and internet by getting rid of annual contracts and letting customers pay by the month for the cable and internet plans they want, the company announced Thursday. Previously, customers could buy internet or cable separately but were often kept inside a contract to get the best prices. After the contract expired, prices often increased.
Under the new pricing plans, customers mix and match internet and TV plans.
In the states, there are three internet plans that range from $39.99 per month to $79.99 per month, depending on the speeds available where you live. Three cable TV plans range from $50 per month to $90 per month and vary on how many channels customers want.
Under the most expensive cable-TV plan, Fios customers get access to more than 425 channels. Verizon is also offering YouTube TV as an option, which costs $49.99 per month after a one-month free trial and offers more than 70 channels.
The changes are an attempt to prevent customers from moving away from traditional cable-TV and turning to cheaper streaming services that don’t lock consumers into contracts.
Verizon shares gained 14 cents to $59.23.
