Podcasting is so last year. These days, anyone who’s anyone has their own phone company.
What happened: Klarna — best known for letting you pay for food delivery orders in four instalments — is getting into the cellphone game with its own wireless service, joining a growing list of celebrities, sports teams, and companies rolling out cheap mobile plans.
- Just this month, we saw the launch of Trump Mobile (which obviously includes an all-gold Trump-branded cellphone) and SmartLess Mobile, a spinoff of the popular podcast hosted by Jason Bateman, Will Arnett, and Sean Hayes.
- Others like Ryan Reynolds, Ted Danson, and the AC Milan soccer team in Italy have all used their cachet to launch or promote budget cellphone carriers. The Reynolds-backed Mint Mobile sold for US$1.35 billion in 2023.
Catch-up: These companies are known as mobile virtual network operators, or MVNOs. Rather than build their own cell towers, they lease space from big carriers like Verizon or AT&T and essentially resell it to their customers for a profit.
Why it matters: MVNOs are often a cheaper alternative to big carriers, but they don’t really exist in Canada because regulators require them to build their own local infrastructure. Not only has that deprived us of having Jason Bateman sell us a phone plan, some argue it contributes to our infamously expensive cellphone bills.—LA