Verizon released its quarterly report yesterday, which shows that the company lost 18,000 FiOS video subscribers in the past three months alone while its FiOS broadband subscribers increased by over 66,000.
This indicates the huge impact cord-cutters are making on the bottom line of most cable providers. As more people turn to streaming services instead of traditional cable, more users subscribe to high-end, fiber-optic internet plans like FiOS to support their increased streaming.
This news is just the latest in a series of cable provider announcements showing the effect of cord-cutters. Last month, Comcast warned that it would report losses of 100,000–150,000 TV subscribers between July and October, while last Friday AT&T filed a report showing losses of nearly 400,000 traditional TV subscribers. Interestingly, though, AT&T also reported that it had added roughly 300,000 new DIRECTV NOW subscribers.
If this trend continues, it will likely force cable companies to either drastically change their service offerings or to invest more heavily in their streaming options. That will likely mean enhanced functionality and offerings for DIRECTV NOW and Sling TV subscribers, as those services are owned by AT&T and DISH respectively.
It remains to be seen how other cable TV providers and streaming services will keep up. If we see any changes, we will be the first to let you know, so make sure to follow us on Facebook and Twitter for updates.