Verizon lost 51,000 video subscribers in Q4

Verizon sign MWCLA19
Verizon Media revenues for the fourth quarter totaled $2.1 billion, mostly flat year over year. (FierceWireless)

Verizon Fios revenues stayed relatively flat during the fourth quarter as broadband demand was offset by video subscriber losses.

The company reported 35,000 Fios Internet net additions and 51,000 Fios Video net losses, which it again attributed to the ongoing shift from traditional linear video to OTT offerings. The video losses were an improvement over the 67,000 net losses during the third quarter but were ahead of the 46,000 the company gave back in the year-ago quarter.

Verizon ended the fourth quarter with approximately 4.15 million Fios consumer video subscribers, down 5.1% year over year.

Sponsored by Dell Technologies

Whitepaper: How to Elevate Your Content Delivery Workflows With Dell EMC PowerScale

Learn how Dell EMC PowerScale helps meet surging viewer demand while reducing costs with a single centralized platform for the ingest, processing, and delivery of the content your viewers love.

Verizon’s wireline business generated $7.1 billion in total revenue, down 4.1% year over year.

Earlier this month the company introduced new “Mix & Match” pricing for its broadband and video products as a means of slowing video subscriber losses. However, Verizon CEO Hans Vestberg mostly dodged a question about how Google’s YouTube TV appears to be the most affordable option for video within the new offer.

RELATED: Verizon lost 46,000 Fios video subscribers in Q4

Vestberg didn’t provide an update on what the take rate has been so far for the new plans, but he reiterated that “Mix & Match” is primarily about providing Verizon’s broadband subscribers with more choices for video service.

“It’s a little bit early, but I think that our customers are very happy that we’re giving them the optionality,” Vestberg said.

Verizon Media revenues for the fourth quarter totaled $2.1 billion, mostly flat year over year. The company called it a “meaningful improvement” from the decline reported at the beginning of the year, and attributed the positivity to gains in native advertising and the demand-side platform.

Verizon’s consolidated revenue was approximately $34.78 billion, up 1.4% year over year.

Suggested Articles

Warner Bros. Pictures will release its entire 2021 film slate on HBO Max the same day they premier in theaters.

DirecTV and Dish Network are both experiencing massive channel blackouts as distribution talks with broadcasters break down.

After earlier this year testing a Watch Party feature for Hulu (No Ads) subscribers, the service is opening the option up to all its customers.