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A large advertisement on the LED screen outside the apple store is to warm up the iPhone 12 series, which is officially on sale on the 23rd. Shanghai, China, October 21, 2020.
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U.S. wireless giants AT&T and Verizon had big plans last year to advertise why customers should upgrade their phones and start using 5G wireless.

Then the pandemic hit, and with everyone stuck at home, showing off blazing speeds and consumer use cases in stadiums, airports and public places wasn’t just irrelevant — it was gauche. Cloud gaming, checking instant odds on gambling apps from stadiums and downloading Netflix movies at the airport became far less important than the ability to work from home — a better message for cable companies who already deliver high-speed home broadband.

“We almost lost the year,” said David Christopher, EVP of partnerships & 5G ecosystem development for AT&T. “But now, people are excited to get out of their homes and experience 5G in the wild. We will dramatize use cases that matter to customers.”

AT&T and Verizon want to transfer customers as fast as possible to 5G networks — not just to recoup the heavy capital expenditure costs of building out updated nationwide networks but also to lock in customers and keep them from defecting to T-Mobile.

Both AT&T and Verizon have offered promotional pricing this year on 5G phones to retain customers and entice new ones. But T-Mobile tends to offer the cheapest prices among the big three, while also topping both Verizon and AT&T in download speed and 5G availability, according to Open Network’s July 2021 5G User Experience Report.

“A focus on 5G isn’t going to be flattering to either Verizon or AT&T,” said Craig Moffett, a wireless analyst at MoffettNathanson. “They are falling far behind T-Mobile in what will soon matter most: 5G speed and coverage. And they charge consumers much higher prices than T-Mobile.”

That puts pressure on both companies to sell consumers on why they should choose AT&T and Verizon — making 5G a marketing challenge as Americans emerge from pandemic quarantines.

Convincing consumers

Getting Americans excited about 5G may not be easy.

A J.D. Power survey last year found that only about a quarter of wireless subscribers said they believed 5G would be significantly faster than current 4G LTE technology, and only 5% of respondents said they’d be willing to pay more for 5G service. 

Even the CEO of AT&T Communications, Jeff McElfresh, told CNBC last year he has “always tried to soften folks’ expectations around 5G.”

Much of the messaging about 5G so far has been about enterprise solutions. A Deloitte Insights consumer survey this year found that consumer use cases that demand the faster network simply don’t exist yet.

Verizon last year helped produce a documentary on 5G called “Speed of Thought,” which showed enterprise-focused examples, such as a robotic arm that a physician can use from anywhere and an augmented reality helmet for firefighters to help see through smoke. It also explored cities testing out 5G-enabled technology to avoid car collisions.

AT&T leaders have also said 5G’s real opportunity is in the business cases, particularly in the case of machines and equipment that are communicating via internet-of-things technology.

But both companies plan to illustrate specific consumer use cases in advertisements in the coming months to convince customers to upgrade.

In an outline of its 5G strategy for this year, AT&T detailed use cases including AR-aided shopping experiences for consumers in stores and downloading content at airports. Earlier this year, AT&T announced it would give its customers access to Bookful, which creates augmented reality experiences around books to try to improve reading comprehension. Christopher said viewing a street map through a phone is reliable and seamless in 5G, more easily allowing for activity like an augmented reality guide to a city, whereas it would have consistently lagged with 4G. 

Verizon is currently running a number of 5G-related TV ad spots, including those with “Saturday Night Live” star Kate McKinnon about a promotion to receive $800 for a 5G phone when consumers trade in their old device.

Verizon has also done some marketing around what its 5G will do for gaming, both in its Super Bowl spot earlier this year and a digital video released in May that tried to illustrate what video game-like lag would look like in everyday life

But the Verizon campaigns don’t yet show why 5G is necessary or important for average consumers.

In one recent Verizon ad, viewers see a series of images — a man climbing a cell tower, a thunderstorm, cars driving on the street, landscape shots of cities — with voiced-over statements about “next generation service,” “broader spectrum,” and “the more going the extra mile matters.” But the only clear consumer use case shown in the one-minute commercial is video chatting — an activity that doesn’t require 5G.

It’s possible 5G advertising could backfire on both companies if consumers view networks as interchangeable and simply choose the lowest-price offering — which will be T-Mobile, Moffett said.

Christopher points out that educating consumers about 5G will benefit the entire industry. “We’re not going to spend our resources talking about the other guy,” he said. “Everything educates the customer about the broad benefits of 5G as a category, and that’s a good thing, too. We’re happy with that.”

Verizon’s 5G Home strategy

Verizon’s 5G marketing strategy hasn’t kicked into full gear yet because the company still hasn’t lit up its nationwide footprint of C-Band spectrum, said Manon Brouillette, recently named Verizon Consumer Group’s chief operating officer and deputy chief executive officer. Verizon CEO Hans Vestberg has promised 100 million Americans will have access to speeds up to 1 Gigabit per second by March 2022.

Brouillette she believes 5G’s biggest selling point is as a replacement for cable broadband once Verizon’s so-called “ultra wideband” network in fully functional. Verizon spent nearly $53 billion on the airwaves earlier this year.

“When it comes to messaging, we need to make sure that any consumer understands you don’t need fiber to home anymore,” Brouillette said. “When C-band is here, we can make a sales pitch where we’ll offer one product, in-home and out-of-home, at low latencies, that has never been offered before. That’s the true game changer.”

Verizon already offers 5G Home that runs on millimeter wave technology — faster than C-band — to parts of 47 U.S. cities.

But even when Verizon’s 5G network is up and running across the country, the company still plans on selling separate products — mobile and home — even though they’ll operate on the same network. Verizon currently sells its 5G Home product at a $20 monthly discount for customers that also buy Verizon wireless.

Verizon is planning more “creative” ways to price home and mobile internet together in 2022, said Brouillette. But that packaging may not be enough to convince consumers to switch to Verizon — especially as cable companies such as Comcast and Charter offer their own mobile services (which use Verizon’s own network) with bundled discounts.

“It’s a myth believing one major ad campaign will solve everything,” said Brouillette. “It will come down to performance and execution.”

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.

WATCH: Verizon CEO Hans Vestberg on subscriber growth surprise, outlook

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UFC’s Dana White joins Meta’s board weeks before Trump takes office

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UFC's Dana White joins Meta's board weeks before Trump takes office

Mark Zuckerberg posing with UFC president Dana White during a UFC Fight Night event.

Jeff Bottari | Ufc | Getty Images

Dana White, CEO of the Ultimate Fighting Championship and a longtime friend of President-elect Donald Trump, is joining the board of Facebook parent Meta two weeks before the new Trump administration begins.

Meta CEO Mark Zuckerberg, who had a particularly tense relationship with Trump during the president-elect’s first term in office, said in a Facebook post Monday that White has built the UFC “into one of the most valuable, fastest growing, and most popular sports enterprises in the world.”

“I’ve admired him as an entrepreneur and his ability to build such a beloved brand,” Zuckerberg said in the post.

Zuckerberg has been practicing mixed martial arts in recent years and has attended several UFC events, underscoring his enthusiasm for the combat sport.

In 2023, Zuckerberg tore his ACL during a sparring session as part of training for a competitive MMA fight. That year, Zuckerberg and Tesla CEO Elon Musk traded verbal barbs and indicated that they were willing to fight each other in a match that White would help produce. But Zuckerberg later said the fight was off because Musk wasn’t “serious.”

White appeared with Trump onstage on election night in November after the victory was in hand.

“This is what happens when the machine comes after you,” White said, after being introduced by Trump. “What you’ve seen over the last several years, this is what it looks like. Couldn’t stop him, he keeps going forward, he doesn’t quit, he’s the most resilient hardworking man I’ve ever met in my life.”

Last month, Meta confirmed that the company had donated $1 million to Trump’s inaugural fund. Zuckerberg was also one of several tech executives who visited Trump at his Mar-a-Lago resort in Palm Beach, Florida, following the election.

Musk has had his own connections to UFC in the recent past. In 2021, Musk joined the board of Ari Emanuel’s Endeavor Group, which owns the UFC through TKO Group Holdings. He exited a year later.

Other new members of Meta’s board include John Elkann, the CEO of Italian holding company Exor, and former Microsoft head of corporate strategy Charlie Songhurst, Zuckerberg said.

Elkann is chairman of Exor’s automobile companies Stellantis and Ferrari, while Songhurst has spent the previous year on Meta’s advisory group helping the company with its artificial intelligence and technology strategies, Zuckerberg added.

“We have massive opportunities ahead in AI, wearables, and the future of social media, and our board will help us achieve our vision,” Zuckerberg said.

WATCH: AI needs to deliver results

Meta: Here's why Rosenblatt Securities has set a price target of $811 for the stock

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Cryptocurrencies rise to start the week, bitcoin jumps above $102,000

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Cryptocurrencies rise to start the week, bitcoin jumps above 2,000

The photo illustration shows the Bitcoin cryptocurrency on November 12, 2024 in Shanghai, China.

Vcg | Visual China Group | Getty Images

The price of bitcoin leapt back above $100,000 to start the first full trading week of the new year.

The flagship cryptocurrency was last higher by about 4% at $102,234, according to Coin Metrics. The broader crypto market, as measured by the CoinDesk 20 index, gained more than 3%. Bitcoin and ether are coming off their best weeks since Dec. 6, while Solana had its best week since Nov. 22.

“Overall, we are in a bullish environment and traders appear to be risk-on as we head into the new year,” Mario Jurina, CEO at crypto swaps platform Jumper.Exchange. “With Trump’s election set to be certified today, and January often being a bullish month — six of the past 10 years saw positive price action — it’s no wonder markets are moving upward.”

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Bitcoin rises above $100,000 to start the week

The moves in crypto coincided with a rebound in tech stocks as Nvidia and shares of other chip names jumped. The tech-heavy Nasdaq was last higher by about 1.7%.

Crypto stocks Coinbase and MicroStrategy advanced nearly 6% and 5%, respectively. MicroStrategy Monday morning reported it has purchased another 1,070 bitcoins for about $101 million, bringing its total bitcoin holdings to 447,470.

Activity is coming back into the crypto market after a post-election rally that was driven by promises of a more supportive regulatory environment. The optimism sent prices rocketing for weeks before cooling at the end of the year. The price of bitcoin is expected to roughly double under the new administration this year, with some price predictions, like Fundstrat’s Tom Lee’s, being as high as $250,000.

Don’t miss these cryptocurrency insights from CNBC Pro:

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Amazon’s Ring announces smart smoke alarm as CES tech palooza kicks off

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Amazon's Ring announces smart smoke alarm as CES tech palooza kicks off

Ring security cameras are displayed on a shelf at a Target store on June 01, 2023 in Novato, California. 

Justin Sullivan | Getty Images

Amazon‘s Ring is partnering with fire safety product maker Kidde to launch a connected smoke alarm, the company announced Monday at the Consumer Electronics Show in Las Vegas.

The companies plan to launch Kidde smoke and carbon monoxide alarms that integrate Ring’s home security technology and can deliver alerts to the Ring mobile app. The Kidde Smart Smoke Alarm with Ring will cost $54.97, while the Kidde Smart Smoke and CO Alarm with Ring will cost $74.97. Both products will ship in April.

As part of the launch, Ring will also roll out a $5-per-month subscription service that gives users access to round-the-clock professional monitoring and emergency dispatchers.

Amazon acquired Ring in 2015 for a reported $1 billion. The home security company is primarily known for its video doorbell devices, which allow users to record activity in front of their homes, though it has expanded to include a portfolio of products ranging from camera-equipped floodlights to flying security camera drones.

Amazon doesn’t disclose unit sales for its Ring division, but Ring and rival home security company SimpliSafe comprise one-fifth of the U.S. market for professional monitoring systems, according to data from market research firm Parks Associates. Ring CEO Liz Hamren, who took the helm from founder Jamie Siminoff in March 2023, told Bloomberg last May that the company “recently” became profitable.

Users aren’t required to subscribe to Ring Home, the company’s program that enables video recording storage and other security features, in order to access the new smoke alarm service.

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