Verizon Posts FiOS, Wireless Gains in Q3
Verizon Communications more than doubled FiOS TV business but lost some 3 million legacy voice customers in past year
By Todd Spangler -- Multichannel News -- Broadcasting & Cable, 10/27/2008 5:28:00 AM MT
Verizon Communications tacked on a net 233,000 FiOS TV subscribers and posted solid wireless gains in the third quarter, but also posted a loss of about 3 million legacy voice customers in the last 12 months.
The telco has more than doubled the FiOS TV business over the past year, standing at 1.6 million customers as of Sept. 30 compared with 717,000 at the end of the third quarter of 2007.
Verizon now is the ninth-largest video programming distributor in the U.S. after the top six MSOs, DirecTV and Dish Network.
The company expanded the FiOS TV footprint by 1.2 million homes in the quarter, which included the launch in New York City, with the service available to a total of 8.2 million premises. Sales penetration for FiOS TV increased to 19.7%, compared with 15.2% in the year-ago quarter.
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