Verizon removed access to Bloomberg TV
Verizon (VZ) withdrew access to Bloomberg TV from its pay-TV customers after Bloomberg News asked it to pay for the news content. According to Reuters, Verizon pulled the news network in December 2017 after it declined to pay for the content, which is available to viewers at no charge online.
Verizon is asking its 4.6 million pay-TV customers to subscribe to Bloomberg’s website and app to access Bloomberg TV.
Carrier companies are losing subscribers
US cable providers and satellite companies have been losing subscribers, as customers don’t want to pay for content that is also available online for free. The rising availability of free television programming in the Internet space has ruptured subscriber additions.
In addition to seeing a decline its US pay-TV customer base, AT&T (T) also has fewer postpaid phone subscriber additions in the last few quarters. Notably, postpaid customers are considered more profitable to mobile operators.
In 3Q17, AT&T lost 241,000 postpaid phone customers. On the other hand, T-Mobile (TMUS) added a net 595,000 postpaid phone customers. Verizon posted an increase of 274,000 postpaid customers, while Sprint (S) added a net 279,000 postpaid subscribers.
Bloomberg focusing on online viewership
New York–based Bloomberg TV is an international cable television channel that aims to expand its online viewership. In December 2017, Bloomberg TV partnered with Twitter (TWTR) to offer a 24/7 news service called TicToc by Bloomberg to its 330 million active users.