Don't look at the man behind the curtain with his big, old black rotary phone. That, in effect, is what the chiefs of the two largest U.S. telcos are saying these days as they embrace and tout their images as video providers and casually suggest landline loss is no longer a big deal. Nothing wrong with that, we think. Maybe it's actually about time.
Verizon Communications boss Ivan Seidenberg and AT&T chief Randall Stephenson made their comments at the Goldman Sachs Communicopia event last week (I can't believe FierceMarkets didn't think of that event name first). Both CEOs noted that the economy, though in recovery according to some, has not come back as thoroughly in the telecom sector. However, both Seidenberg and Stephenson insisted that they still expect major growth to come from their video units.
Interestingly, a couple of reports I've seen out of Communicopia state that AT&T expects to reach 30 million homes with its IPTV offering within the next "several years." The last I heard earlier this year, AT&T said it expected to pass that number of households by 2011, which is two years away, not exactly several. Did I miss something?
- MediaDailyNews has this story
AT&T said in June it would reach 30 million homes with U-verse in 2011