Verizon reported its 2008 first quarter earnings this week (skillfully covered around The Tubes), and in what has been a regular feature at PolicyBlog, I rip off share some internal break-outs around how FiOS is faring. Below is the full fact sheet, but here are the highlights I see:
As of March 31, 2008:
- Verizon passes 10.4 million homes and businesses with its fiber optic network, FiOS.
- FiOS Internet: We added 262,000 new customers in Q108, with a total now of 1.8 million who are getting up to 50 Mbps downstream and up to 20 Mbps upstream.
- During the quarter we added about 4,100 new FiOS internet customers per day.
- FiOS TV, is now available to 6.5 million premises and added 263,000 new FiOS TV customers at a rate in the quarter also of 4,100 per day.
- Total FiOS TV: 1.2 million customers.
We expect to continue passing 3 million new premises a year through 2010, when the company expects to have passed 18 million premises, or more than half the homes it serves.
FiOS FACT SHEET
Verizon is the only major U.S. telecom company building an advanced, all-digital fiber-optic network, on a mass scale, all the way to customers’ homes.
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California |
New York |
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Connecticut |
Oregon |
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Delaware |
Pennsylvania |
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Florida |
Rhode Island |
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Indiana |
South Carolina |
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Maryland |
Texas |
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Massachusetts |
Virginia |
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New Jersey |
Washington |
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Where is Verizon Deploying its Fiber Network?
· At the end of March 2008, Verizon had passed about 10.4 million homes and businesses in parts of 17 states. With the sale of Verizon assets in New Hampshire March 31 to Fair Point Communications, fiber-to-the-home construction continues in 16 states.
· Verizon expects to continue passing some 3 million new premises annually through 2010, when the company expects to have passed about 18 million homes, or over half the homes it serves.
· Verizon has leveraged the versatility and capacity of the fiber network by introducing in 2007 industry-leading synchronous downstream and upstream data rates of up to 20 Megabits per second (Mbps), helping customers engage innovative broadband and video online activities and transfer large files more quickly and efficiently.
· Verizon is investing nearly $23 billion in the FiOS project, between 2004 and 2010. Over the same period, the company expects to save billions of dollars because of the avoided maintenance costs and other savings associated with the new fiber plant.
What Broadband Products is Verizon Delivering on its All-Fiber Network?
· At the end of March 2008, Verizon was marketing its industry-leading, high-speed FiOS Internet service – with downstream speeds of up to 50 Mbps and upstream speeds of up to 20 Mbps – to 7.9 million customers in over 2,000 communities in 17 states. As of March 31, with the sale of New Hampshire assets to Fair Point Communications, FiOS Internet continues to sell well in 16 states.
· As of March 31, 2008, Verizon had more than 1.8 million FiOS Internet customers, an increase of 262,000 during the first quarter of 2008 – or about 4,100 new FiOS Internet customers every business day at an average penetration rate of 23 percent.
· Verizon expects to attract some 6 million FiOS Internet customers by year-end 2010 – a penetration rate of more than 35 percent.
· For more information on products and pricing, go to: http://www.verizon.com/fiberoptics.
What Video Products is Verizon Delivering on its All-Fiber Network?
· At the end of March 2008, Verizon’s all-digital FiOS TV service was available to about 6.5 million premises in 13 of the states where the company is building FTTP: California, Delaware, Florida, Indiana, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Texas and Virginia.
· As of March 31, 2008, Verizon had 1.2 million FiOS TV customers and in January 2008 signed up its one-millionth FiOS TV customer, just 28 months after launching the service. During just the first quarter of 2008, Verizon added a net of 263,000 new FiOS TV customers -- or about 4,100 new customers every business day.
· Verizon's FiOS TV delivers hundreds of digital video and music channels, high-definition programming, the nation’s largest collection of video-on-demand content, a robust interactive media guide and other advanced features. Verizon will deliver some 150 channels in High Definition by year-end.
· Verizon expects to attract at least 4 million FiOS TV customers by 2010, which would be a market penetration of at least 25 percent.
· In April 2008, Verizon filed an application for a New York City franchise, covering 3.1 million homes, many of them multiple dwelling units. Verizon’s all-fiber network already passes about 20 percent of these homes. TV service sales could begin later this year.