July 24, 2020
Verizon’s status as a pay-TV operator continues to slip with the telecom operator July 24 disclosing it lost 81,000 Fios TV subscribers in the second quarter, ended June 30. The telecom has lost 283,000 Fios TV subs in the past 12 months, ending the period with 3.98 million.
Verizon added 10,000 broadband subs, bringing it high-speed Internet sub base to nearly 6 million.
With more than 115 million wireless subs, Verizon was a a go-to launch partner for Disney+, helping the SVOD newbie quickly gain market traction in the U.S. offering free 12-month service to all new and existing wireless subscribers, as well as new Fios and 5G customers.
This month Verizon inked a deal with ViacomCBS’s Pluto TV deal affording wireless subs access to Pluto’s myriad channels featuring on-demand content from Paramount Pictures, MTV, CBS, Comedy Central and Nickelodeon, among other sources. Starting today some Verizon devices will update to add Pluto’s 250+ original and branded channels.
In 2018, Verizon shut down its go90 ad-supported streaming video service after a three-year run, resulting in a near $1 billion write-down — and the subsequent exit of CEO Lowell McAdam.”
New CEO Hans Vestberg said the telecom remains focused on its strategic direction, quickly adapting to the new retail environment during the COVID-19 crisis.
“We have embraced, engaged in and responded to important social movements happening throughout the world, and will continue to be at the forefront of initiatives that move the world forward for everyone,” Vestberg said in a statement.