News

Verizon: Fios Video Lost 259,000 Subs Through Sept. 30

Verizon Oct. 21 disclosed that its Fios Video television subscription service lost 259,000 subscribers through Sept. 30, widening 22% from a loss of 212,000 subs during the previous year period. In the past three months, Fios Video lost 95,000 subs, widening almost 40% from 68,000 subs lost during the same period a year ago. The platform ended the fiscal period with more than 3.3 million subs, compared with 3.6 million a year earlier.

Offsetting pay-TV subscriber losses continues to be high-speed internet service, or broadband. Verizon said it added 602,000 broadband subs (Fios internet) in the nine-month period, including 272,000 over the past 90 days, to end the fiscal period with 7.6 million subs. That’s up almost 10% from 6.9 million subs a year ago.

Fios ended the period with another 913,000 high-speed internet business subscribers, up 64.5% from 555,000 subs a year ago.

Meanwhile, Verizon’s stock took a hit Oct. 21 after reporting stalled wireless phone sub growth. The carrier added just 8,000 postpaid phone subs in the quarter compared with a gain of 429,000 subs in the previous-year period. Rival AT&T gained 708,000 postpaid phone subs in the same quarter.

“We took a number of actions in the third quarter that helped drive improved operational and financial performance, but we know there’s still more work to be done,” CEO Hans Vestberg said in a statement.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Leave a Reply

Your email address will not be published.

five × 4 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.