Verizon Communications continued the ongoing trend among multichannel video distributors supplanting declining pay-TV subscribers with high-speed internet customers.
The mobile carrier April 22 said it lost 78,000 Fios Video subscribers in the first quarter, ended March 31. That compared with a loss of 85,000 subs in the previous-year period. Verizon ended the period with almost 3.5 million video subs — down 277,000 subs from last year.
Meanwhile, Fios Internet added 55,000 subscribers in the quarter, which was down from a net add of 98,000 broadband subs in the previous-year period. Verizon ended the period with almost 6.6 million high-speed internet subs — up from 6.3 million subs last year.
“Our operational performance in the first quarter further positions Verizon for long-term growth and increases our competitive standing in mobility, nationwide broadband, the value market, and above the network business solutions and applications,” CEO Hans Vestberg said in a statement.