And that’s, from my point of view, why we’re seeing a little bit of that step-up in that voice transition and what’s occurring. I think we’re going to try to do some work with you broadly, not just specific to business, but we’ll give you some transparency and visibility of what’s left in the legacy businesses and what’s going on around those things. As we move through this year, I think we’re working on maybe some ways to schedule some of that for you, so you kind of get a sense of what’s occurring there. I understand your desire to want to understand it. I think what I would balance that with is, as we stressed multiple times this morning, those things that we’re investing in right now, we’ve got a really good, strong, solid growth business, and those growth business are built on 5G and fiber and businesses endgame is really no different.
We’re shifting to build a company that is good at selling 5G and fiber into business, and selling 5G and fiber into business, not just at the top end of the market for the Fortune 1000, but across the continuum of the market. And that’s a bit of a transition for AT&T because I would say, where we made our bread and butter over the last decade, rightly or wrongly, has been at the top end of the market. And so as we shift and generate more revenues and more share out of the mid-portion of the market, we’re having to rebuild some muscle and some distribution and the right product mix to attack that and we can do that. And the endgame is we will catch this decline and we’ll ultimately catch the decline with connectivity-based services both in fiber and 5G.
We’re just going through that transition to make that happen. And unfortunately, as you know, some of the historic voice services are really high-margin services. They’re being replaced with good margin services, but not quite as high. And it’s going to be a little bit painful for a couple of quarters, as we move through this transition. But I have ultimate confidence that the AT&T brand plays incredibly well in business. All of our research suggests that. I have very high confidence that we walk in and we talk to businesses of any size about using AT&T for either their wireless or fixed connectivity, we’re high in the consideration set and can win that business. And I have confidence that there was another generation of incremental services that go on top of that connectivity, as I alluded to in my opening remarks and what we’re doing with Dynamic Defense is a good example, which is overlay incremental service that comes on top of the basic transport that allows us to scrub traffic on behalf of the customer to improve their security posture.
I think there’s a lot more of those things that can come on in the middle market, given the lack of sophistication, the lack of ability to have a full-time staff dedicated to those things. And I think that’s just natural for us to extend our capabilities into that space. And I’m long-term bullish that it’s the right thing for us to be in both the fixed and the wireless market, given our brand presence, our distribution channel capabilities and how we build products.
Brett Feldman: All right. Operator, we have time for one last question.
Operator: Our last question in queue will come from the line of Walter Piecyk of LightShed. Please go ahead.
Walter Piecyk: Thanks. John, I just want to get your kind of refreshed views on the fixed wireless market. If you look at Verizon, they’ve added a percentage point of overall wireless growth using fixed wireless. T-Mobile has added, I think, 160 basis points. We’re seeing advertisements for, I guess, I think what you call free air or something like that. What do you think in terms of the growth opportunity here? And if you were able to get some additional spectrum or maybe even with your existing spectrum, as you’ve seen the usage from some of your early learnings, can this be as broad of an opportunity for you as it’s been for Verizon and T-Mobile?
John Stankey: Good morning, Wal. I think the short answer to the last part of your question is I don’t intend to promote it in the market in the manner that Verizon and T-Mobile are promoting at the market. And I just I said on the sideline and I observed, I also see them doing some things right now to try to manage the dynamics around those product sets that are reflective of what I believe the ultimate outcome was going to be and what I’ve been saying for a period of time, which is wireless networks aren’t particularly the best place to take a single-family home that streams hours and hours of video a day and try to serve them with a kind of $50 a month product or service. And I just don’t see that as long-term sustainable or healthy growth of returns for the business.
And I’ve been pretty consistent in saying that and I’m still consistent in saying that. And that’s why we’re making a choice in our capital allocation to invest more heavily in fiber, as the basis of which to make an investment that we think has a long runway and a long annuity stream and as a technology that has flexibility to deal with what we know is going to be continuing calls and demands on growth for high-performance networking in homes and businesses. Now having said that, I’ve also been very, very clear that there is a place for fixed wireless in our portfolio. And I don’t believe my point of view on this has changed in any way, shape or form nor our execution’s any different than that. I’ve said from the start that there are many businesses that do not have the characteristics of single-family homes.
