Verizon Fios TV Lost 67K More Customers in Q3 as Platform Continues to Slip into Irrelevancy

Sustained erosion in Q3 comes as wireless company bundles streaming services YouTube TV and Disney+ with Fios internet
Author:
Publish date:

The hottest TV distribution platform in the video business just a decade ago, Verizon Fios TV lost another 67,000 customers in the third quarter, the wireless company announced.

The losses aren’t necessarily spiking but they’re steady—Fios TV lost 63,000 users in the third quarter of 2018. The platform’s last quarterly growth came in the fourth quarter of 2016, when it peaked at around 4.7 million users. It’s scale has fallen to less than 4.3 million as of the end of September.

Under the leadership of CEO Hans Vestberg, Verizon has for several years insisted that its main wireline goal is the continued proliferation of Fios Internet. To that end, Verizon has offered its customers promotional deals for virtual pay TV service YouTube TV, and more recently, the upcoming SVOD service Disney+.

Fios Internet added 30,000 customers in the third quarter.

“Our customers see value in our high-quality broadband offering paired with multiple choices for video through linear TV bundles or over-the-top options, such as YouTube TV and the recently announced Disney+,” Verizon CFO Matthew Ellis said during the company’s earning call on Tuesday. 

Related