Verizon’s fiber-based TV platform, Fios, recently announced fourth-quarter numbers for 2019. Fios reports that they lost 51,000 TV subscribers between October and December 2019 Verizon Fios also lost 52,000 subscribers in the second quarter and 67,000 subscribers in the third. According to Verizon, this loss reflects “the ongoing shift from traditional linear video to over-the-top offerings.”
Verizon Fios also reports 35,000 Fios Internet net additions for the fourth quarter of 2019.
Based on fourth-quarter reporting, revenues remained relatively flat. Fios only saw a meager 0.3% increase in revenues year over year. This growth is due to the increased demand for Fios Internet despite the decline in subscribers. The increased demand in Fio Internet was triggered by the company’s new Mix & Match pricing and Verizon’s Disney+ promotion.
Verizon’s new Mix & Match pricing allows subscribers to choose their own broadband packages in an effort to slow the loss of subscribers. On the other hand, Verizon’s Disney+ promotion offered a free Disney+ subscription when the service launched. This promotion was available for both existing and new customers. Both of these offers contributed to the limited growth seen in Fios Internet.
Verizon Fios lost a total of 225,000 TV subscribers in 2019, taking their total TV subscribers to 4.15 million, down 5% compared to the year before. Verizon lost 171,000 subscribers in 2018.
Most of the growth realized by Verizon Consumer over the fourth quarter is the result of wireless service revenue.
AT&T, Verizon Fios’ competitor, has also released fourth-quarter numbers. AT&T reports a loss of 219,000 AT&T TV NOW subscribers and 945,000 premium TV subscribers or a total of 1.16 million subscribers lost during this period. Like Verizon, AT&T also saw an increase in broadband interest, reporting 191,000 AT&T Fiber net adds.
Other competitors, including Comcast and DISH, will be releasing their fourth-quarter numbers soon.