Sprint’s ‘Cut Your Bill in Half’ promotion cuts both ways
U.S. mobile phone bills fell for the second straight quarter in Q1 thanks to heightened wireless competition highlighted by Sprint’s (S) bold “Cut Your Bill in Half” promotion. The average monthly postpaid wireless bill was $136 in Q1, compared with $141 in Q4 and $146 in Q3, Cowen and Co. reported Friday. Cowen surveys about 1,000 consumers for its quarterly wireless surveys. The carrier with the largest decline in average revenue per account (ARPA) was Sprint. It saw average bill size fall 14% to $132 a month in Q1 from $153 a month in Q4. Cowen analyst Colby Synesael said the drop at Sprint was “likely driven by its aggressive ‘cut your bill in half’ promotion.” Verizon (VZ) saw its ARPA dip 5% to $143 a month, compared with $151 in Q4. It was the first time Verizon’s average revenue per account had fallen below $150 a month since Cowen…