Group 1: Event Overview - Relevant+ is collaborating with Tigre Sounds and Total Wireless to launch Beats Per Mile (BPM), an exclusive DJ-driven electronic music experience during Miami Race Week [1][2] - BPM is a unique DJ circuit that combines motorsports excitement with Latin music, taking place at a local Latin coffee shop in Miami [2][3] Group 2: Cultural Significance - The event aims to celebrate the rich diversity of Latin sounds and connect with the local community of music lovers and cultural tastemakers [3][4] - BPM reflects the intentionality and self-expression of U.S. Hispanic Gen Z, who are increasingly seeking authentic connections and mindful spending [3][4] Group 3: Market Insights - Over 58% of the U.S. Hispanic population is under age 34, with buying power projected to exceed $2.8 trillion by 2026, making engagement with this demographic essential for brands [4] - Relevant+ focuses on embedding brands within culture through a network of in-culture publishers across various sectors, including music and lifestyle [4][6] Group 4: Company Background - Relevant+ is recognized as a leading independent culture media group that connects Hispanic-owned media solutions to brands [6] - Total Wireless is a no-contract wireless provider that offers competitive plans and is part of the Verizon Value portfolio [7][8]

Core Viewpoint - Verizon's recent performance indicates a troubling trend in subscriber growth, with significant losses in the first quarter of 2025 following a brief gain at the end of 2024 [1][8] Subscriber Performance - In the first quarter of 2025, Verizon added 1.7 million consumer wireless retail postpaid phone subscribers on a gross basis, but this represents a 1% decline year over year, resulting in a net loss of 356,000 subscribers [2] - The company lost 194,000 net consumer retail postpaid phone subscribers in the first quarter of 2024, despite gaining 367,000 subscribers in the fourth quarter of 2024, indicating a volatile subscriber base [3] Revenue Trends - Total wireless service revenue for Verizon rose by 2.7% year over year, despite the ongoing subscriber losses [3] Customer Retention Strategies - Verizon introduced a three-year price lock on wireless plans to improve customer retention, although this excludes fees and perks associated with the plans [4] - The company also guarantees that existing customers can access the same promotions on new phones with trade-ins as new customers, which may increase costs but aims to reduce churn [5] Competitive Landscape - Competitors like AT&T are also implementing customer-friendly policies, such as bill credits for service outages, which may limit the effectiveness of Verizon's new strategies [6] - The industry is seeing a trend towards customer-first policies, which could dilute the impact of Verizon's initiatives on subscriber growth [6] Economic Considerations - The potential impact of tariffs on smartphones could increase costs for Verizon's free phone offers, and an economic slowdown may lead consumers to downgrade plans or seek cheaper alternatives [7] - Verizon's position in a potentially slowing economy, combined with its need to catch up with competitors, presents challenges for future subscriber growth [8]

Core Insights - The 2025 Data Breach Investigations Report (DBIR) by Verizon Business indicates a significant rise in cyberattacks, with third-party involvement in breaches doubling to 30% and exploitation of vulnerabilities increasing by 34% [1][2][4] Cybersecurity Threat Landscape - The report analyzed over 22,000 security incidents, including 12,195 confirmed data breaches, identifying credential abuse (22%) and exploitation of vulnerabilities (20%) as the leading initial attack vectors [2][3] - Ransomware attacks have risen by 37% since last year, now present in 44% of breaches, despite a decrease in the median ransom amount paid [7] - The human element remains a significant factor in breaches, with a notable overlap between social engineering and credential abuse [7] Industry-Specific Trends - The report highlights an alarming increase in espionage-motivated attacks within the Manufacturing and Healthcare sectors, alongside persistent threats to the Education, Financial, and Retail industries [3][4] Recommendations for Businesses - Businesses are urged to adopt a multi-layered defense strategy, including strong password policies, timely patching of vulnerabilities, and comprehensive security awareness training for employees [3][4] - The median ransom payment to cybercriminals last year was US$115,000, which poses a significant financial burden for many small and medium-sized businesses (SMBs) [4][5] Overall Implications - The findings of the DBIR serve as a wake-up call for businesses to strengthen their cybersecurity posture and mitigate risks from evolving cyber threats [4][5]

Core Insights - The 2025 Data Breach Investigations Report (DBIR) by Verizon Business indicates a significant rise in cyberattacks, with third-party involvement in breaches doubling to 30% and exploitation of vulnerabilities increasing by 34% [1][2][4] Cybersecurity Threat Landscape - The report analyzed over 22,000 security incidents, including 12,195 confirmed data breaches, identifying credential abuse (22%) and exploitation of vulnerabilities (20%) as the leading initial attack vectors [2][3] - Ransomware attacks have risen by 37% since last year, now present in 44% of breaches, despite a decrease in the median ransom amount paid [7] - The human element remains a significant factor in breaches, with a notable overlap between social engineering and credential abuse [7] Industry-Specific Trends - The report highlights an alarming increase in espionage-motivated attacks within the Manufacturing and Healthcare sectors, alongside persistent threats to the Education, Financial, and Retail industries [3] - Small and medium-sized businesses (SMBs) are disproportionately affected by ransomware, with 88% of breaches involving ransomware targeting these organizations [5] Recommendations for Businesses - The findings emphasize the necessity for businesses to adopt a multi-layered defense strategy, including strong password policies, timely vulnerability patching, and comprehensive security awareness training for employees [3][4] - Companies are urged to take immediate action to strengthen their cybersecurity posture to mitigate risks from evolving cyber threats [4]

Core Insights - The 2025 Data Breach Investigations Report (DBIR) by Verizon Business highlights a significant increase in system intrusions in the Asia-Pacific region, with 80% of data breaches attributed to such attacks, up from 38% the previous year [1][2][3] Key APAC Findings - Malware incidents rose dramatically from 58% to 83% year-over-year in the Asia-Pacific region, with ransomware now accounting for 51% of breaches [2][9] - The report indicates a concerning trend of espionage-motivated attacks particularly affecting the Manufacturing and Healthcare sectors, while the Education, Financial, and Retail industries continue to face persistent threats [6] - The involvement of third parties in breaches has doubled, emphasizing the risks associated with supply chain vulnerabilities [9] Key Global Findings - The report analyzed over 22,000 security incidents, including 12,195 confirmed data breaches across 139 countries, underscoring the global nature of the cyber threat landscape [2] - The median ransom payment to cybercriminals was reported at US$115,000, which poses a significant financial burden for small and medium-sized businesses (SMBs) [7] - A notable increase in breaches due to exploitation of vulnerabilities was observed, with a 34% rise, particularly targeting zero-day exploits on perimeter devices and VPNs [9] Industry-Specific Trends - The report reveals a rise in espionage-motivated attacks in specific sectors, particularly Manufacturing and Healthcare, while SMBs are disproportionately affected by ransomware, which is present in 88% of breaches [6][8] - The number of organizations that did not pay ransoms increased to 64%, up from 50% two years ago, indicating a shift in response strategies among businesses [8]

Core Insights - Verizon Business's 2025 Data Breach Investigations Report (DBIR) indicates a significant rise in global data breaches, particularly in the EMEA region, where system intrusion breaches have nearly doubled to 53% [1][7] EMEA Findings - In EMEA, 29% of breaches originated from within organizations, contrasting sharply with APAC (1%) and North America (5%) [2] - Despite EMEA having the highest percentage of internal breaches, the number of insider incidents decreased by 41% in 2025 [2] - System intrusion breaches surged to 53%, up from 27% last year [7] - Social engineering, particularly phishing, was involved in 19% of breaches in EMEA [7] - Ransomware attacks increased by 37%, now present in 44% of breaches [7] Global Findings - The report analyzed over 22,000 security incidents, including 12,195 confirmed data breaches [2] - Third-party involvement in breaches doubled to 30% [2] - There was a 34% increase in vulnerability exploitation globally, with a focus on zero-day exploits targeting perimeter devices and VPNs [7] - Human involvement in breaches remains high, with significant overlap between social engineering and credential abuse [7] Sector-Specific Insights - Manufacturing saw a nearly sixfold increase in espionage-motivated breaches, rising to 20% from 3% last year [6] - Retail organizations experienced a 15% increase in cyber incidents, with attackers shifting focus from payment card data to customer credentials and business plans [7] - Healthcare and education sectors are also facing rising espionage threats [6]

Core Insights - The 2025 Data Breach Investigations Report (DBIR) reveals a significant increase in global data breaches, particularly in the EMEA region, where system intrusion breaches have nearly doubled to 53% [1][7] - The report analyzed over 22,000 security incidents, including 12,195 confirmed data breaches, highlighting a 34% increase in vulnerability exploitation globally and a doubling of third-party involvement to 30% [2][6] - EMEA shows a high percentage of breaches originating from internal actors at 29%, contrasting sharply with APAC and North America, where internal threats account for only 1% and 5% respectively [2][3] Key EMEA Findings - System intrusion breaches surged to 53%, nearly double last year's rate of 27% [7] - Insider leaks account for 29% of breaches in EMEA, with 19% due to unintentional mistakes and 8% from misuse [7] - Social engineering incidents, particularly phishing, were involved in 19% of breaches in EMEA [7] Key Global Findings - Ransomware attacks increased by 37% since last year, now present in 44% of breaches, despite a decrease in the median ransom amount paid [7] - The manufacturing sector experienced a nearly sixfold increase in espionage-motivated breaches, rising to 20% from just 3% last year [6][7] - Human involvement in breaches remains high, with significant overlap between social engineering and credential abuse [7]

Financial Data and Key Metrics Changes - Wireless service revenue increased by 2.7%, reaching the high end of the guided range [9] - Adjusted EBITDA was reported at $12.6 billion, marking a 4% growth and the highest result ever [9][20] - Free cash flow improved by over $900 million compared to the previous year, totaling $3.6 billion [9][27] - Adjusted EPS for the quarter was $1.19, reflecting a year-over-year increase of 3.5% [26] Business Line Data and Key Metrics Changes - Consumer postpaid phone net losses were 356,000, primarily due to recent pricing actions [21] - Prepaid net adds reached 137,000, the best performance since the TracFone acquisition [13][24] - Broadband services saw 339,000 net adds, with continued market share growth in both Fios and fixed wireless access [24][14] Market Data and Key Metrics Changes - The company is on track to deploy C-Band to 80% to 90% of planned sites by year-end, enhancing mobility services [11] - Fios expansion is ahead of schedule, with a target of 650,000 incremental passings this year [12] - The fixed wireless access product is expected to reach 8 million to 9 million subscribers by 2028 [14] Company Strategy and Development Direction - The company aims to grow wireless service revenue, expand adjusted EBITDA, and generate strong free cash flow [17] - Focus on customer-first offerings, including myPlan, myHome, and My Biz Plan, to enhance customer experience and retention [10][34] - The pending acquisition of Frontier is expected to significantly enhance broadband offerings and market reach [10][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current macroeconomic environment, citing the essential nature of connectivity services [7][8] - The company anticipates improved consumer postpaid phone net adds for the full year, despite recent challenges [22] - Management highlighted the importance of maintaining financial discipline and operational excellence to achieve long-term growth [18][27] Other Important Information - The company was recognized as having the best, fastest, and most reliable 5G network in the US by RootMetrics [11] - The Verizon Value Guarantee, a new three-year price lock and free phone guarantee, is expected to drive customer loyalty and growth [46][55] Q&A Session Summary Question: Impact of tariffs on handsets and telecom equipment - Management indicated that tariffs on handsets could affect consumer pricing but emphasized that they are prepared to manage these challenges without compromising capital expenditures [61][67] Question: Churn expectations with new plans and promotions - Management expects churn to improve in the second half of the year due to the introduction of the Verizon Value Guarantee and ongoing C-Band expansion [72][73] Question: March and April gross adds improvement - Management noted that the new Verizon Value Guarantee has led to double-digit growth in gross adds, indicating strong market resonance [87] Question: Sustainability of business EBITDA growth - Management confirmed that the recent EBITDA growth is supported by ongoing cost transformation efforts and a shift towards higher-margin wireless services [90][93] Question: Consumer behavior changes due to tariffs - Management reported no significant changes in consumer behavior but noted some uptick in handset upgrades attributed to new offers [100][102] Question: Postpaid phone industry growth expectations - Management maintains that the postpaid market is expected to grow between 8 million and 8.5 million, with a focus on migrating customers from prepaid to postpaid [119] Question: Marketing and pricing strategy adjustments - Management is focused on maintaining a competitive pricing strategy while ensuring that service revenue growth remains sustainable [125][135]

Core Insights - Verizon experienced a loss of 289,000 postpaid phone subscribers in the first quarter, exceeding analysts' expectations of 185,000 losses [1] - The decline in subscribers is partially attributed to cuts in federal government accounts, as stated by Verizon's CEO Hans Vestberg [1] - Despite the subscriber loss, Verizon's operating revenue increased to $33.5 billion, surpassing the expected $33.3 billion [3] Subscriber Loss - The company lost 289,000 postpaid phone subscribers, which was higher than the anticipated loss of 185,000 by analysts [1] - CEO Hans Vestberg indicated that the subscriber drop was influenced by "pressure from federal government accounts" [1] - Specific details regarding which government cuts impacted subscriber numbers were not disclosed [1] Financial Performance - Verizon's operating revenue rose to $33.5 billion, exceeding analyst expectations of $33.3 billion [3] - Most of the company's capital expenditures are reportedly not "exposed to tariffs," according to Vestberg [3] Government Contracts - Verizon holds contracts with various federal agencies, including the Department of Defense and the Federal Aviation Administration [4] - Elon Musk criticized Verizon's work with the FAA earlier this year, but later softened his stance [4] - SpaceX, Musk's company, may benefit if the government terminates its FAA contract with Verizon [4]

Group 1 - The earnings season has commenced, with banks being the first to report, followed by major companies [1] - The current market environment is characterized by a selloff, but there are opportunities for investment and hedging strategies [1] - The company offers a blended trading and income approach to help investors achieve rapid returns and advance their savings and retirement timelines [1] Group 2 - The service includes a money-back guarantee for customer satisfaction, emphasizing a proven track record of success [3]