Verizon FIOS consumer video subscribers down 72,000 in 4Q 2020

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) closed 2020 with fourth-quarter results highlighted by increased cash flow, wireless service revenue growth, and the launch of 5G nationwide.

Consumer results

Consumer reported 92,000 Fios Internet net additions in fourth-quarter 2020, an increase from 35,000 Fios Internet net additions in fourth-quarter 2019. Consumer and Business reported 95,000 total Fios Internet net additions in fourth-quarter 2020, the most fourth-quarter total Fios Internet net additions since 2014. Consumer reported 72,000 Fios Video net losses in fourth-quarter 2020, reflecting the ongoing shift from traditional linear video to over-the-top offerings.

Fios Video Connections (‘000):

                                2018                        2019                        2020
                 -------------------  --------------------------  --------------------------
                    2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q
                 -----  -----  -----  -----  -----  -----  -----  -----  -----  -----  -----
Consumer
  Connections    4,487  4,423  4,377  4,322  4,270  4,203  4,152  4,068  3,987  3,926  3,854
  Net Adds        (38)   (64)   (46)   (55)   (52)   (67)   (51)   (84)   (81)   (61)   (72)
Business
  Connections       73     74     74     76     76     77     77     77     75     74     73
  Net Adds           1      1      -      2      -      1      -      -    (2)    (1)    (1)
Total
  Connections    4,560  4,497  4,451  4,398  4,346  4,280  4,229  4,145  4,062  4,000  3,927
  Net Adds        (37)   (63)   (46)   (53)   (52)   (66)   (51)   (84)   (83)   (62)   (73)