Verizon Oct. 20 revealed it lost 68,000 video subscribers in the third quarter (ended Sept. 30), to finish the period with 3.6 million Fios TV subs. That compared with a loss of 61,000 video subs in the previous-year period. Over the past nine months, Verizon has lost 212,000 pay-TV subs, down from 226,000 subs during the previous-year period. Year-over-year, Fios TV lost 284,000 subs.
Offsetting the pay-TV losses was broadband, the high-speed Internet required to deliver streaming video the “last mile” into consumer homes.
Verizon, along with Comcast, AT&T and others, is one of the largest ISPs in the country. The telecom said it added 98,000 broadband subs in the quarter, down from 139,000 additions in the previous-year period. The company ended the period with almost 6.5 million broadband subs, up from 6.1 million last year. Over the past nine months, Verizon has added 288,000 high-speed Internet subs, compared with a gain of 208,000 subs during the previous-year period.
“We are seeing strong demand for connectivity across our consumer and business segments as our … network quality and unique partnerships are resonating with both new and existing customers,” chief financial officer Matt Ellis said in a statement.