Verizon FIOS video subscribers down 67,000 in 3Q 2019

Friday, October 25th, 2019
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NEW YORK – Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported strong third-quarter 2019 results highlighted by increased cash flow and the most third-quarter phone gross additions in five years.

Consumer

In third-quarter 2019, Verizon Consumer Group reported 30,000 Fios Internet net additions and 67,000 Fios Video net losses, reflecting the ongoing shift from traditional linear video to over-the-top offerings. Consumer Fios revenues increased by 1.7 percent, primarily due to the demand for broadband offerings.

Fios Video Connections (‘000):

                                       2017                        2018                 2019
                 --------------------------  --------------------------  -------------------
                    1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q     2Q     3Q
                 -----  -----  -----  -----  -----  -----  -----  -----  -----  -----  -----
Consumer
  Connections                                4,525  4,487  4,423  4,377  4,322  4,270  4,203
  Net Adds                                    (23)   (38)   (64)   (46)   (55)   (52)   (67)
Business
  Connections                                   72     73     74     74     76     76     77
  Net Adds                                       1      1      1      -      2      -      1
Total
  Connections    4,681  4,666  4,648  4,619  4,597  4,560  4,497  4,451  4,398  4,346  4,280
  Net Adds        (13)   (15)   (18)   (29)   (22)   (37)   (63)   (46)   (53)   (52)   (66)