Verizon in Q2 Adds 9,000 'Skinny Bundle' Subs
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Despite having its promotional messages blacked out in a number of key markets, Verizon in the second quarter managed to sign up 9,000 new customers for its new “skinny bundle” of cable network packages.
Speaking during the telco’s quarterly earnings call, Verizon Executive VP and CFO Fran Shammo told investors that Verizon’s FiOS TV service had added 26,000 new subs in the period spanning April 1 through June 30, of which “more than one-third” opted for one of its slimmed-down Custom TV packages.
Mr. Shammo said that while the initial demand for the Custom TV offering exceeded Verizon’s expectations, many are choosing the cheapest package available, opting for the basic skinny bundle and not adding any extra channels. “I will tell you, as far as the number of genres they take, it’s less than what we had anticipated,” he said, before adding that while that will “put pressure on the top line,” down the road it will “improve profitability from a programming perspective.”
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