Every Day, Verizon Fios Loses 3,600 TV Customers, But 5G Is Booming

(CTN News) – In today’s press release, Verizon Wireless released its preliminary earnings for the first quarter of 2023.

It was also announced that the company’s total revenue for the 1st quarter of 2023 was $32.9 billion. This was a decline of about 1.9% from the 1st quarter of 2022.

During the past year, Verizon has lost 335,000 Fios TV customers, which is a decrease of about 9.6% from the previous year.

Taking this into account, Verizon loses about 3,600 subscribers a day as a result of subscribers canceling their TV subscriptions.

There were 437,000 new broadband customers added by Verizon, including 393,000 new wireless home internet customers using 5G technology.

There is no doubt that Verizon expects to grow its home internet service by offering 5G home internet as part of its strategy for growth.

As a result of the steps that we have taken to improve our performance, we have seen a rise in our operational and financial results.”

As a result of the actions we have taken to improve our performance, we have been able to add more postpaid phone gross additions to Verizon’s network.

We have also increased our free cash flow and cash flow from operations compared to last year,” said Verizon Chairman and CEO Hans Vestberg.

In an announcement made last month, we announced that our 5G Ultra Wideband now reaches more than 200 million people as we continue to undertake the most aggressive network deployment in the history of our company.

Our mobile and broadband capabilities, as well as our focus on network strength, enable us to give more customers in more places a superior network experience thanks to our mobile and broadband capabilities.”

As a result of this strong growth in 5G Home Internet, the losses in TV have been offset. As of the end of the first quarter, Verizon Wireless had a total of 114,523 prepaid and postpaid wireless customers.

Verizon has 115,186 subscribers at this time, which is a slight decrease compared to 115,186 subscribers at the same time in 2022.

In the first quarter of 2023, consumer Fios revenue was $2.9 billion, which is a slight increase from the prior year
In spite of the positive effects caused by the growth of Fios internet customers, this year’s numbers are down year over year
Those gains were offset primarily by a decline in video and voice connections, which is consistent with
According to Verizon’s financial remarks on its 2023 1st quarter financial results, these trends are in line with industry trends.

In 2023, Verizon, along with all other traditional television providers, will continue to experience a decline in TV subscribers. It remains to be seen how fast these numbers will continue to decline.

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