US telco Verizon continued to see strong gains for its pay-TV service ‘FiOS TV’ in the fourth quarter of 2012, adding 134,000 net new customers to reach a total of 4.7mn.
Penetration of its FiOS services continued to increase, with video penetration at 33.3% by the end of December 2012, compared with 31.5% one year earlier. The FiOS network passed 17.6mn premises at year-end 2012.
Verizon has been making strong progress with its ongoing project to replace high-maintenance portions of its residential copper network with fibre optics to provide enhanced services and to reduce ongoing repair costs.
In 2012, Verizon migrated 223,000 homes to fibre, which contributed to an 11 percent improvement in trouble reports across Verizon’s entire copper network for the year. The company has a target of 300,000 additional migrations within FiOS markets in 2013.
Total revenues across all operations for the fourth quarter of 2012 exceeded US$ 30bn – the first time its quarterly revenues have ever reached this level.