April 21, 2021
Verizon Communications April 21 disclosed it lost 82,000 Fios TV pay-TV subscribers in the first quarter (ended March 31). The loss was a slight improvement from 84,000 subs lost in the previous-year period. The telecom ended the period with 3.7 million Fios TV subs — down 296,000 subs from more than 4 million last year.
Meanwhile, Verizon, like most ISPs, added high-speed Internet subs, including 98,000 in the quarter. That compared with a gain of 59,000 subs in the previous-year period. Total Fios Internet net additions in first-quarter 2021 were 102,000, the most Q1 total Fios Internet net additions since 2015. The company ended the fiscal period with 6.3 million — up 339,000 subs from last year.
Verizon is a promotional partner for Disney+, affording wireless subs free 12-month access to the streaming service.
“The strength in our core business is driving higher revenues and strong demand for our products and services,” CFO Matt Ellis said in a statement. “We delivered strong operational and financial performance, giving us positive momentum as we end the first quarter. High-quality, sustainable wireless service revenue growth, a recovery in wireless equipment revenues, strong Fios momentum and excellent Verizon Media trends led the way.”