uploads///Telecom Verizon Q FIOS Internet

What’s Driving Verizon’s Fios Customer Growth


Nov. 20 2020, Updated 3:10 p.m. ET

Verizon’s Fios Internet net additions

In the previous part of this series, we discussed a few pay-TV market trends affecting Verizon (VZ). The telecom company is managing the challenges of the pay-TV market by concentrating on its Fios Internet offering. In 1Q18, Verizon added 66,000 Fios Internet customers, compared with 35,000 in 1Q17. However, its net broadband connections increased by only 7,000 in 1Q18.

The net gains in Fios Internet connections were partially offset by 59,000 DSL (digital subscriber line) Internet connection losses. These losses were mainly due to competitive pressure from cable companies such as Comcast (CMCSA) and Charter Communications (CHTR).

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Verizon’s Fios Gigabit Connection

Verizon believes that its Fios Gigabit Connection, launched last year in certain markets, has continued to gain traction, offering speeds of up to 1.0 Gbps (gigabits per second). Verizon’s Fios Internet customer base grew ~4.0% year-over-year to 5.9 million at the end of 1Q18.

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