Verizon loses 52,000 video subscribers in Q2

Verizon
While Verizon’s wireline business mostly held steady, the company’s media business (previously called Oath) has begun to show signs of turnaround. (FierceWireless)

Verizon’s net video subscriber losses during the second quarter kept pace with the previous quarter as the company continues to contend with the shift from traditional linear TV to OTT video services.

The company lost 52,000 Fios video subscribers in the second quarter, compared with a net loss of 53,000 in the first quarter and a net loss of 38,000 in the year-ago quarter. Verizon now has 4.27 million video subscribers, down 4.8% from what it had one year ago.

Verizon did post 28,000 Fios Internet net additions and a 1.2% increase in Fios revenues driven by increased demand for its broadband product. The company has approximately 5.84 million Fios internet subscribers, up 3.1% from the year-ago quarter.

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Total Verizon Consumer business segment revenues were $22 billion, flat year over year. Verizon did not add any Fios video business customers during the quarter, essentially stable with the 1,000 net additions it posted in the year-ago quarter. The company ended the quarter with 76,000 Fios video business customers, up 4.1% from where it was one year ago.

RELATED: Verizon expands YouTube TV deal as Fios video losses continue in Q1

While Verizon’s wireline business mostly held steady, the company’s media business (previously called Oath) has begun to show signs of turnaround. Total Verizon Media revenues in second quarter of 2019 were $1.8 billion, down 2.9% year over year. This is an improvement from the first quarter of 2019, when total Verizon Media revenues were down 7.2% year over year. The company said gains in native and mobile advertising continue to be offset by declines in desktop advertising.

Total consolidated operating revenues in the second quarter were $32.1 billion, down 0.4% from one year ago.

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