Verizon lost 84,000 net pay TV subscribers of its FiOS consumer pay TV service in the first quarter and said revenue at its media unit, which includes Yahoo and HuffPost, fell 4 percent, 'driven almost entirely by COVID-19 impacts.' Details:
Revenue at the media unit, which includes the likes of Yahoo and HuffPost, fell 4 percent in the first quarter,"driven almost entirely by COVID-19 impacts."
The company cited "the ongoing shift from traditional linear video to over-the-top offerings," saying it ended March with 4.07 million consumer video connections. Management said it started seeing big shifts in consumer behavior starting around mid-March, including fewer new mobile sign-ups, but also less user churn in some areas, as well as increased broadband and Wifi usage in homes.
Verizon, led by CEO Hans Vestberg, did not say on Friday how many of its users have taken advantage of the telecom giant's deal with Walt Disney's Disney+ streaming service. Management had previously said that the deal has exceeded the firm's expectations. Disney recently said that the streaming service has had hit more than 50 million subscribers.
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