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Verizon Fios Video Subscribers Drop Below 3 Million

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Verizon Fios Video Subscribers Drop Below 3 Million

Verizon Fios Video Subscribers Drop Below 3 Million

Fios TV

Erik Grünwedel

July 22, 2024

Fios Video, Verizon’s pay TV division, continues to feel the effects of the declining linear TV ecosystem, underscored by the continued shift to streaming video.

The telecom company on July 22 reported 2.8 million Fios Video subscribers for the second quarter, which ended June 30. That’s a decline of 273,000 subscribers from the 3.09 million subscribers at the end of the same period last year.

At the same time, Fios Internet saw its subscriber count grow by 195,000 to a total of over 7 million subscribers, compared to a total of 6.85 million subscribers last year.

Verizon continues to push third-party streaming entertainment, including free access to Disney+ for wireless subscribers and the recent bundling of the first-ever Netflix/Peacock annual plan. Earlier this year, the telecom began offering a $10 monthly Netflix/Max bundle with the platforms’ ad-supported tiers.

Verizon’s +Play platform is intended to mimic Prime Channels, which gives Amazon’s consumer subscribers discounted access to third-party streaming services.

“We continue to build on our strengths and successes and expand them with new products and services. We are confident that this upward momentum will position us for future growth,” CEO Hans Vestberg said in a statement.

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