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Prepaid Brands Report Growth in Q2 2020

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The major carriers in the country have reported a growth in their prepaid sector. The list includes the likes of AT&T, T-Mobile, and Verizon; which is the first time in years that this was reported. The report comes from Wave7 Research, who collected information regarding Q2 2020 earnings.

According to the report, AT&T had a total of 165,000 net prepaid subscription adds, T-Mobile had 133,000, and Verizon had 12,000. In addition to the three wireless networks, América Móvil also earned big during the quarter with 214,000 total subscriber additions for all its brands.

The only one that didn't do well during the period was Ting Mobile, who lost 15,000 subscribers.

One of the major reasons why the prepaid sector grew during the quarter was largely because of the pandemic. As a result of several individuals losing their jobs, they looked for options on how they could cut down on costs. They saw prepaid as a feasible option for this.

As reported by Wave7 Research's Jeff Moore, "Credit is one of the reasons for a shift of customers from postpaid to prepaid." The principal also shared that "being jobless tends to damage credit scores."

Another possible reason for the net adds during the quarter was because there were a number of special offers that prepaid brands offered towards the end of Q1 2020. Many of these offers were still available during Q2.

Notably, this includes the $15 per month phone plan that prepaid brands offered towards the end of Q1. The list includes T-Mobile, Metro by T-Mobile, Cricket Wireless, and AT&T Prepaid. The plan came with unlimited talk, text, and 2GB of high-speed data. Except for T-Mobile, the offer was temporarily available until the end of May. This helped attract new subscribers.

You can read the full report here.

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