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.
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.
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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.