Verizon FiOS TV growth slows

Michelle Clancy ©RapidTVNews | 22-10-2011

Verizon Communications saw a slow-down in its FiOS TV growth in the third quarter, adding just 131,000 new subscribers, down from 184,000 new TV subs for Q2.
The IPTV provider said that Hurricane Irene and subsequent flooding was a main culprit for the slowdown, having prevented field techs from doing installs for days at a time within Verizon’s large, mostly Northeastern territory.
AT&T meanwhile added 176,000 U-verse TV subs in Q3.
Still, the growth was there, and Verizon continues to outpace cable MSOs in terms of subscriber additions. Verizon claims 3.979 million FiOS TV subscribers, up 21 percent year-over-year. Verizon saw triple play subscribers leap 20 percent year-over-year. Overall, the penetration rate for FiOS TV is 30.6 percent in-market, up from 27.2 percent in the third quarter of 2010.
Verizon saw $2.1 billion in revenue from FiOS services (including Internet) for the quarter, up 20.8 percent from Q2 2010.