Verizon loses another 69,000 video subscribers in Q4

Verizon’s slow and steady Fios TV video subscriber losses continued through the end of 2021 as the provider lost another 69,000 customers in the fourth quarter.

The company lost 281,000 residential video subscribers in 2021, slightly better than the 298,000 it lost in 2020. The total video subscriber base declined 7.3% year over year to close out last year at 3.573 million.

Verizon’s shrinking video subscriber base—which reached its lowest point in a decade last year—has increasingly not factored into the company’s earnings release and accompanying call with investors and analysts. Instead, the company has focused on the third-party content partnerships it uses to sweeten deal for its wireless and broadband customers.

Verizon’s Mix & Match offering features YouTube TV as a prominent linear video option for its customers and the provider also has deals in place to give out extended free trials of Disney+, ESPN+, Hulu, Discovery+, Apple Music and other streaming services.

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Still, Verizon’s Fios Consumer revenues hit $2.9 billion in the fourth quarter, up 5.6% year over year thanks to continued Fios Internet growth. The company added 51,000 internet customers during the quarter and 339,000 for the full year.

Verizon’s consolidated operating revenues fell slightly, down 1.8% to $34.1 billion. However, when adjusted to include the sale of Verizon Media on September 1, operating revenues rose 4.8%.

Verizon sold its Media division to Apollo Global Management for $5 billion and retained a minority stake in the business, which is now named Yahoo.

"2021 was a transformational year for Verizon that will serve as a catalyst for us," said Verizon Chairman and CEO Hans Vestberg in a statement. "We delivered on all of our goals in 2021 and made great progress on our five paths of growth, finishing the year with strong operating and financial momentum. As we move into 2022, we have the necessary assets to realize our strategy that we laid out in 2019. We are laser focused on executing our 5G strategy and providing value to our customers, shareholders, employees, and society, as 2022 will be the most exciting year yet for Verizon."