AT&T is sharpening its focus on next-generation connectivity, with plans to expand its fibre and 5G networks dramatically. During its 2024 Analyst Day, the company revealed a bold roadmap to cement its position as the leading connectivity provider in the United States.
With a total investment of $140 billion since 2020, including spectrum acquisitions and capital expenditures, AT&T aims to double its fibre footprint to 50 million locations by 2029 and maintain its leadership in 5G coverage. The telecom giant is betting big on convergence, blending wireless and broadband services to lock in customers with seamless, high-speed solutions.
Fiber Expansion: A Core Priority
AT&T’s aggressive fibre rollout underscores its commitment to delivering faster, more reliable broadband services. By the end of 2024, the company plans to have passed 29 million locations with fibre. By 2029, this number will grow to 50 million.
Consumer demand for fibre is growing exponentially, with fibre customers reporting better satisfaction and lower churn compared to copper-based services. According to AT&T’s data, 40% of its fibre households also use AT&T Mobility services, a number the company intends to double over the long term.
In the wireless space, AT&T is leveraging its investment in 5G to gain a competitive edge. The company’s mid-band 5G coverage already reaches over 300 million people, and its network modernisation efforts, including open hardware and public cloud integration, promise to lower costs and enable faster innovation.
Jeremy Legg, AT&T’s CTO, emphasised the importance of open architecture in enabling product development and scaling new technologies: “We are creating a single intelligent network that will reduce costs and unlock innovation.”
A key element of AT&T’s strategy is phasing out legacy copper services by 2029, a move that the company says will result in faster, more reliable connections and lower operating costs. This transformation aligns with AT&T’s broader goal of modernising its network to meet the growing demands of both consumers and businesses.
Financial Gains in Sight
AT&T expects these initiatives to drive sustainable growth in revenues and earnings. The company is projecting a 7% annual growth in broadband revenue for 2024, with free cash flow in the $17–$18 billion range. CEO John Stankey stressed the importance of balancing innovation with financial discipline, pointing out that AT&T has reduced net debt by $25 billion since 2020.
AT&T’s strategy reflects a broader industry trend toward convergence—offering bundled wireless and broadband services to retain customers. It’s not just about faster internet speeds; it’s about creating an ecosystem that keeps users engaged.
“AT&T is building the largest, highest capacity, and lowest marginal cost converged broadband network in the U.S.,” Stankey said, pointing to the company’s goal of doubling its fibre subscriber base over the next few years.