Verizon FIOS video subscribers down 51,000 in 4Q 2019

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) closed 2019 with strong fourth-quarter results highlighted by earnings growth and the most fourth-quarter phone net additions in six years.

Consumer

Consumer reported 35,000 Fios Internet net additions and 51,000 Fios Video net losses in fourth-quarter 2019, reflecting the ongoing shift from traditional linear video to over-the-top offerings. Consumer Fios revenues remained relatively flat, primarily due to the demand for broadband offerings, offset by the impact of video subscriber losses.

Fios Video Connections (‘000):

                                       2018                        2019
                 --------------------------  --------------------------
                    1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q
                 -----  -----  -----  -----  -----  -----  -----  -----
Consumer
  Connections    4,525  4,487  4,423  4,377  4,322  4,270  4,203  4,152
  Net Adds        (23)   (38)   (64)   (46)   (55)   (52)   (67)   (51)
Business
  Connections       72     73     74     74     76     76     77     77
  Net Adds           1      1      1      -      2      -      1      -
Total
  Connections    4,597  4,560  4,497  4,451  4,398  4,346  4,280  4,229
  Net Adds        (22)   (37)   (63)   (46)   (53)   (52)   (66)   (51)