Verizon Communications Inc. (NYSE:VZ) is separating TV and Internet plans to retain the customers of traditional cable TV. According to a communiqué from the company on Thursday, it is removing the annual contracts.
Offers three internet plans for customers
Verizon has introduced three monthly internet plans starting from $39.99 to $79.99. The customers can choose an appropriate plan considering the desired Internet speed. It has also introduced three monthly cable TV plans starting from $50 to $90 depending on several channels. Customers opting for expensive cable TV plans can enjoy over 425 channels. Verizon also offers a one month free trial of YouTube TV for customers and charges a monthly fee of $49.99 after the free trial.
After becoming a favorite in 2016, the Fiber Optic cable TV is steadily losing subscribers, and even in the last reported quarter. Fios TV commands a customer base of 4.2 million by the end of September 2019. The Internet subscribers of Fios TV are estimated at 5.9 million.
Verizon is losing TV viewers
Verizon is losing TV viewers to rivals like Amazon Prime and Netflix streaming services. The viewers are flocking to Dish Network’s Sling, YouTube TV, and AT&T TV now for live event coverage, news, and sports. Those customers are searching for economical and flexible streaming services. Verizon is now offering an option to remove or add TV bundles every month to retain the customers.
Appoints Rathi Murthy as CTO
Verizon Media has appointed Rathi Murthy as the Chief Technology Officer. She is responsible for overseeing the global technology strategy and leads continued innovations in content, subscriptions, commerce, and 5G. Chief Executive Officer of Verizon Media, Guru Gowarappan, said Rathi brings over 20 years of experience in promoting growth at prominent companies such as eBay, American Express, and Gap. She will provide invaluable support because the company is evolving new ways to connect people with their fashions.
During her stint at Gap, Rathi is leading a team of 2,500 employees across operations and technology. Rathi said she will help the company to amplify growth in 5G and other innovative technologies. She will strive to provide more value to the business partners by working with customers and world-class teams.