Verizon reported a loss of 62,000 net pay TV subscribers for its Fios consumer video service in the fourth quarter of 2023, bringing its total to 2.95 million. This follows a loss of 78,000 users in the third quarter and 80,000 in the same period the previous year.
Additionally, the company lost 2,000 business Fios video customers in the fourth quarter, mirroring the loss from the year-ago period, resulting in a total pay TV user loss of 64,000. Verizon has attributed these declines to “the ongoing shift from traditional linear video to over-the-top offerings.”
On the broadband front, Verizon gained 53,000 Fios broadband internet subscribers in its consumer division in the fourth quarter, following additions of 69,000 in the second quarter and 56,000 in the year-ago period. The company’s total broadband net additions in the latest period amounted to 413,000, compared with 434,000 in the third quarter, bringing its total broadband user base to 10.7 million by the end of 2023. This marks the fifth consecutive quarter that Verizon has reported more than 400,000 broadband net additions.
Last year, Verizon introduced its +play platform, designed to provide users with a streamlined way to discover, purchase, and manage various subscriptions across entertainment, audio, gaming, fitness, music, lifestyle, and more. Through partnerships with Netflix, Peloton, Live Nation’s Veeps, and leading services like Disney+, Discovery+, A+E Networks, and AMC+, the platform offers Verizon customers exclusive deals for content services.
