Verizon reported results for 2Q 2021 and things are looking up for Fios. The company is hoping to seize on that momentum with some new enhancements to Fios TV and internet, including a new Fios Apple TV app and enhanced Wi-Fi.
Verizon reported net new Fios internet adds of 92K in 2Q 2021, as well as a loss of 62K Fios video subscribers. Both are significant improvements from a year ago. The company lost 82K video subs in 2Q 2020 and only added 10K Fios internet subs in that same period.
Fios momentum is apparently real. “Our trailing 12-month total Fios internet net [subscriber] add performance is the highest since 2015,” commented Verizon CFO Matt Ellis on today’s earnings report conference call. The carrier now has 6.4 million Fios internet subscriber.
Verizon has some new promotions to build on that momentum. Starting today, Verizon will offer an enhanced whole home Wi-Fi platform at no additional charge for Fios Gigabit subscribers.
The offer includes the standard Wi-Fi 6 compatible Fios router and an extender to be placed in any Wi-Fi dead zone to improve coverage. Non-gigabit subscribers are charged $20/month for this enhanced Wi-Fi. Verizon is also highlighting security for its Wi-Fi service, including parental controls.
New Fios gigabit subscribers are also being offered a free Samsung Chromebook 4 laptop for good measure.
Additionally, Fios TV customers can now download a Fios Apple TV app, which in effect allows an Apple TV to act as a Fios set-top-box. Customers are still required to have at least one Fios STB (no additional charge), but can now use apps on both the Apple TV and Amazon Fire TV platforms on additional TVs, saving the monthly STB rental cost.
With the Fios Apple TV app, Verizon joins other pay-TV providers, including Charter and Comcast who make their programming available via third party streaming devices.
The past year has created significant demand for broadband, and like many national providers, Verizon has seen its fair share of growth. As we enter the post-pandemic world, Verizon is looking to continue that momentum for its Fios base, which faces stiff competition from the cable industry.