Verizon Adds 120K FiOS Video Subs in Q222 Jul, 2012 By: Erik Gruenwedel
Telco offers no update about pending digital video rental venture with Redbox
Verizon Communications added 120,000 net new video subscribers in the second quarter (ended June 30), ending the period with almost 4.5 million fiber-optic FiOS households — up more than 16% from nearly 3.8 million FiOS video subscribers during the same period last year.
The video sub net additions were nearly 35% less than the 184,000 net subs during the second quarter in 2011. Through the first six months of the year, Verizon has added 300,000 net new video subs — down more than 20% from 376,000 net sub additions during the same period last year.
Operating income for the FiOS business segment dropped nearly 41% to $188 million from $318 million last year. Operating revenue increased 2.5% to more than $3.4 billion from more than $3.3 billion last year.
In a July 19 call with analysts, Verizon CFO Francis Shammo made no mention of the telco’s planned second-half launch of a digital video rental service with Redbox. The kiosk disc-rental service reports second-quarter fiscal results July 26.