Verizon FIOS video subscribers down 52,000 in 2Q 2019

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported strong second-quarter 2019 results highlighted by an increase in net wireless customer additions, continued customer loyalty and industry-leading wireless products and services.

In second-quarter 2019, Verizon Consumer Group reported 28,000 Fios Internet net additions and 52,000 Fios Video net losses, reflecting the ongoing shift from traditional linear video to over-the-top offerings. Fios revenues increased by 1.2 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
                 -----  -----  -----  -----  -----  -----  -----  -----  -----  -----
Consumer
  Connections                                4,525  4,487  4,423  4,377  4,322  4,270
  Net Adds                                    (23)   (38)   (64)   (46)   (55)   (52)
Business
  Connections                                   72     73     74     74     76     76
  Net Adds                                       1      1      1      -      2      -
Total
  Connections    4,681  4,666  4,648  4,619  4,597  4,560  4,497  4,451  4,398  4,346
  Net Adds        (13)   (15)   (18)   (29)   (22)   (37)   (63)   (46)   (53)   (52)