Verizon Doubles FiOS TV Subscribers in 2008

February 6, 2009

By Jennifer Hull

Verizon has announced that the number of Verizon FiOS TV subscribers doubled in 2008. The company also reported record growth last year for new FiOS Internet customers.

"Verizon has shown that it is able to compete effectively in this economic environment," said chairman and CEO Ivan Seidenberg. "We grew profits and maintained strong cash flows throughout 2008. In the fourth quarter, we continued to produce top-line growth, fueled by strong sales volumes for broadband, wireless, and strategic business services.”

"The Verizon story in 2008 was one of customer growth and product innovation, based on the strategic technology and broadband infrastructure investments we have made year after year," Seidenberg said. "We have built a solid foundation to continue to create value for our customers and shareholders in 2009 and beyond."

Verizon FiOS TV Adds more than 300,000 New Customers

Verizon added 303,000 net new FiOS TV customers, compared with 226,000 in the same quarter in 2007. The company had 1.9 million FiOS TV customers at year-end 2008, adding nearly 1 million FiOS TV customers since year-end 2007.

FiOS TV sales penetration (sales as a percentage of potential customers) increased to 20.8 percent, compared with 16 percent in 2007. FiOS TV service was available for sale to 9.2 million premises by year-end 2008. This represented a 57 percent increase in the availability of FiOS TV – and, by extension, of "triple play" bundles of FiOS TV, Internet, and voice services – since year-end 2007.

Number of New Verizon FiOS Internet Customers Up in 2008

Verizon added 282,000 net new FiOS Internet customers, compared with 244,000 in the fourth quarter 2007. The company had nearly 2.5 million FiOS Internet customers at year-end 2008, adding nearly 1 million FiOS Internet customers since year-end 2007.