Both AT&T and Verizon have been convinced that wireless will save them however they don't even know what that means or what it will take for this magic bullet to become a reality. They have both been buying up content providers etc in an attempt to be prepared for whatever this unknown future is and to most it seems like they have a plan. They don't, its just each other reacting to the others purchases. Ask them what their plans are and really its just sales pitches with no real plan.
In reality these telecoms no matter how much they spend of name brand content have already lost because consumers of digital media don't care who it comes from weather its from ABC or HBO the modern media consumer doesn't have loyalty to brands it only cares of ease of access. The less hassle it is to access something the more likely that product will succeed. Have a pay wall or need a bundle and an app? Its not going to take of, millennials especially will just leave it and move on.
Verizon and AT&T have a long way to go to catch up, if they ever do. In the meantime they have been mortally wounding themselves. In trying to reshape as wireless cool future guys they have ignored their wire line sides, leaving plants to rot and in Verizon's case selling off huge portions off with AT&T (again reacting to the other) also following suit in Connecticut and in effect releasing a lot of customers who grew up with a physical attachment to a brand free to fend for themselves and in effect free from brand recognition and loyalty. Who's to say these customer who these telecoms could always count on to retain and up sale year after year with every and all product evolutions will comeback to something they don't recognize in name anymore? Especially when being free means you will be able to go to the cheapest provider and in this wireless future world there are going to be more players than these two telecoms. Tomorrow belongs to no one.