January 25, 2022
Verizon Jan. 25 reported its lost 69,000 Fios Video pay-TV subscribers in the fourth quarter, ended Dec. 31, 2021. That was an improvement over the loss of 72,000 Fios Video subs in the previous-year period. For the fiscal year, Verizon jettisoned 281,000 pay-TV subs to end the year with more than 3.5 million — down from more than 3.8 million at the end of 2020.
Pay-TV’s loss continues to be broadband’s gain as the telecom said it added 55,000 Fios Internet net sub additions in the quarter. In full-year 2021, Verizon reported 360,000 Fios Internet net additions, the best annual performance since 2014. It ended the year with more than 6.5 million broadband subs — up 5.5% from 6.2 million at the end of 2020.
Total quarterly Fios revenue reached $3.2 billion, an increase of 5.7% year over year. Full-year 2021 Fios revenue was approximately $12.7 billion, up 4.6% year over year.
“Verizon delivered another strong earnings performance this quarter,” CFO Matt Ellis said in a statement. He was alluding to the telecom’s strong wireless businesses and rollout of the 5G network. Verizon added 667,000 wireless retail subscribers, which included 336,000 phone net additions and 369,000 other connected device net additions, offset by 38,000 tablet net losses.
The company ended the year with more than 115.3 million wireless subs, up more than 22% from 94.3 million at the end of 2020.
“2021 was a transformational year for Verizon that will serve as a catalyst for us,” said CEO Hans Vestberg.