Verizon lost 78,000 net pay TV subscribers for its Fios consumer video service in the third quarter, ending it with just more than 3.0 million, the telecom giant said on Tuesday.
It had lost 69,000 users in its consumer division in the second quarter and lost 95,000 in the year-ago period.
Verizon also lost 1,000 business Fios video customers on the third quarter. The company has in the past often cited “the ongoing shift from traditional linear video to over-the-top offerings” as a key driver of video subscriber declines.
Verizon, led by chairman and CEO Hans Vestberg, gained 72,000 Fios broadband internet subscribers in the third quarter after adding 51,000 in the second quarter. Total broadband net additions of 434,000 in the latest period compared with 287,000 in the second quarter, leading Verizon to end September with a total broadband user base of 10.3 million. The company noted that this meant “the fourth consecutive quarter that…