Verizon Eliminates Annual Contracts for TV and Internet

Verizon recently announced that the company is dropping traditional cable bundles that are often bound by annual contracts and hidden fees in an attempt to prevent customers from cutting the cord.

With Verizon’s new offering, customers can choose internet and TV plans separately and pay by the month. Previously, customers could buy internet or cable separately but were often kept in a contract to get the best prices. After the contract expired, prices would often increase.

Under the company’s new pricing tiers, customers mix and match internet and TV plans. Verizon has three internet plans that range from $39.99 per month to $79.99 per month and three cable TV plans range from $50 per month to $90 per month.

The company also announced this week that it has appointed Rathi Murthy as the company’s Chief Technology Officer.

Murthy will oversee Verizon Media’s global technology strategy, leading the company’s continued innovations in 5G, advertising and content, commerce and subscriptions.

“Rathi is a stellar technology leader who, for over 20 years, has driven growth for some of the world’s biggest companies, including Gap, American Express and eBay,” said Guru Gowrappan, CEO, Verizon Media.

“As our business continues to evolve in new ways, we are excited to add her wealth of experience and believe it will be invaluable for us in support of our mission of connecting people to their passions.”

Previously Murthy was CTO at Gap Inc., leading all technology and operations — including 2,500 employees — across the company’s portfolio of brands.

“Verizon Media is in an exciting new phase of growth and is leading in 5G technology. I look forward to amplifying that success with an innovative technology roadmap,” said Murthy. “I will work together with our world-class product teams and customers to advance our technology and deliver maximum value to our growing business partners.”

Disclaimer: We have no position in Verizon Communications Inc. (VZ) and have not been compensated for this article.