January 30, 2020
Verizon Communications Jan. 30 disclosed it lost 222,000 Fios TV subscribers in the fiscal year ended Dec. 31, 2019. The telecom lost 51,000 subs in the fourth quarter to end the year with more than 4.2 million pay-TV subs, compared with more than 4.4 million subs at the end of 2018.
Following a trend among linear TV operators also providing high-speed Internet, Verizon reported 35,000 Fios Internet net additions in the quarter, reflecting the ongoing shift from traditional linear video to over-the-top offerings.
Verizon ended 2019 with more than 6.2 million broadband subscribers, an increase of 161,000 subs from the end of 2018.
Fios revenue remained relatively flat, primarily due to the demand for broadband offerings, offset by the impact of video subscriber losses.
Meanwhile, the telecom continues to push its legacy mobile phone business and next-generation 5G network functionality, including the launch and build-out of Verizon’s 5G Ultra Wideband network.
The company reported 852,000 wireless retail postpaid net additions in the quarter, which included 588,000 phone net additions, up 12.6% year over year, and 305,000 related connected device net additions, primarily wearables, partially offset by tablet net losses of 41,000. Postpaid smartphone net additions were 723,000.
“Our 5G footprint continues to grow as we lead this era of transformational change by building these next-generation networks the right way,” CEO Hans Vestberg said in a statement.