Bloomberg News
Verizon Communications Inc. expects to sign up 100,000 customers to receive video over its new fiber optic network by the end of September as the company expands the service to compete with cable television companies.
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Verizon also expects to serve 500,000 Internet users over the fiber network by the end of the third quarter and 725,000 by Dec. 31, the New York-based company said in a statement today. Verizon aims to have 175,000 video users by year-end as well.
Verizon, the second largest U.S. telephone company, is spending $22.9 billion to build the network, which will pass 6 million homes by Dec. 31, in a bid to compete with cable-TV providers for Internet, television and phone services. Comcast Corp., the largest U.S. cable company, has said it expects to have 1.4 million phone-service customers by year-end.
“Right now we have passed 100,000 (video customers), so we feel we are well on our way to meeting our end-of-year objective,” said Virginia Ruesterholz, president of Verizon Telecom, in a conference call last week.
Verizon said the average cost to connect a home to the network was $933 last month.
