NEW YORK, N.Y. – In the report for the third quarter of 2019, Verizon Fios lost 67,000 TV Subscribers.
Verizon just announced today that they had lost a significant number of TV subscribers in just three months. This streak has been going on from the last quarter when Verizon also lost about 52,000 residential video subscribers by the end of the 2nd quarter of 2019. Considering the number of the customers they lost at the end of the 3rd quarter, Verizon Fios has been losing a little more than 2,000 TV customers every single day. On the other hand, Verizon Fios gained an increased number of customers for their internet service, adding 30,000 new customers at the end of the 3rd quarter.
According to Hans Vestberg, Chairman and CEO, Verizon still continues its force by gaining impressive wireless volumes for both their Business and Consumer segments. He continued by saying that Verizon has also been bringing solid financial reports at the same time, and this can be seen through the revenue growth of their wireless service, EPS growth, and increased cash flow.
Vestberg also stated that Verizon has been focusing on straightening out their 5G rollout plans. He said they are inspired and confident about their strategy when it comes to providing more value for their subscribers as well as growth for their shareholders for the 4th quarter.
So far, another service provider has also presented their reports for the 3rd quarter, and Verizon Fios isn’t the only one who lost a large number of subscribers. According to the report from Comcast, the company lost more than 224,000 subscribers for its pay-TV service.
From the three service providers, Fios, Spectrum, and Comcast, they have already lost about 521,000 customers. It means there are about 5,663 TV subscribers canceling their pay-TV service every single day.
As the Verizon Fios lost 67,000 TV subscribers at the end of this quarter, other service providers, including DISH and AT&T, will soon announce their earnings report for the 3rd quarter of 2019.