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Verizon "Leaning Into" Cord-Cutting "Unequivocally," Exec Says
Telecom giant Verizon has focused on leveraging its wireless and internet user reach in major partnerships with content giants, such as Disney and its Disney+ streaming service, because of the lack of profit margins of the traditional pay TV business, Verizon Consumer CEO Ronan Dunne told the virtual Morgan Stanley European Technology, Media and Telecom Conference on Wednesday. The company used to be "a sub-scale purchaser of linear content" via its Verizon FiOS pay TV service, which ended September with more than 3.9 million total video subscribers, compared with 94 million wireless and 6 million broadband internet connections, he argued.
