{"id":20202,"date":"2014-10-05T19:02:57","date_gmt":"2014-10-05T23:02:57","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=20202"},"modified":"2014-12-01T17:34:48","modified_gmt":"2014-12-01T22:34:48","slug":"verizon","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2014\/10\/05\/verizon\/","title":{"rendered":"Verizon"},"content":{"rendered":"
by Lauren Shaw<\/pre>\n
Verizon Communications<\/strong><\/span><\/p>\n
\"Verizon<\/a>
Company Logo, click to go to website.<\/p><\/div>\n
140 West Street<\/p>\n
New York, NY 10007<\/p>\n
www.verizon.com<\/p>\n
Executives\u00a0<\/strong>[1]<\/a><\/span><\/p>\n
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Courtesy of verizon.com<\/p><\/div>\n
Lowell C. McAdam, Chairman & CEO<\/p>\n
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Courtesy of verizon.com<\/p><\/div>\n
Roy H. Chestnutt, Executive Vice President & Chief Strategy Officer<\/p>\n
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Courtesy of verizon.com<\/p><\/div>\n
James J. Gerace, Chief Communications Officer<\/p>\n
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Courtesy of verizon.com<\/p><\/div>\n
Roger Gurnani, Executive Vice President & Chief Information Officer<\/p>\n
About\u00a0<\/strong>[2]<\/a><\/p>\n
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 <\/p>\n
Verizon Communications is a major media conglomerate that provides broadband and other communication services to consumer, business, government, and wholesale customers. The company is known for its wireless services<\/a>, providing a reliable wireless network for its 98 million customers nationwide.<\/p>\n
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Verizon FIOS is one of the company\u2019s major departments that provides a telephone service, digital TV, and high speed Internet over a single fiber optic cable. Fios customers gain access to over 575 digital TV channels, with over 160 channels being High Definition<\/a>. FiOS also offers over 18,000 movies on demand<\/a>.<\/p>\n
History\u00a0<\/strong>[3]<\/a><\/span><\/p>\n
Launching in 2005, Verizon FiOS was originally just available to 9,000 customers in Keller, Texas<\/a>. With the addition of DVR in 2006 and High Definition in 2008, Verizon grew to eventually becoming a leading television distribution company, with around five million customers and availability in 18 million homes in 16 states, as of May 2013. Their top markets are New York<\/a>, Washington<\/a>, Philadelphia<\/a>, Los Angeles<\/a>, and Boston<\/a>, with New York having 1,305,440 subscribers and Boston having 343,535 subscribers. (As of 2013)<\/p>\n
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Financials<\/span><\/strong><\/p>\n
On October 21, the company released their third quarter earnings report. Although more customers were added, Verizon Communications saw a decline in profit. Third quarter net income was $3,794 million, which is a drop from the $5,578 million in 2013\u2019s third quarter. [4]\u00a0<\/a>More specifically, the companies Wireline segment had a total revenue of $9.576 million, which is a 0.8% decrease from last year. [6]<\/a>\u00a0However, FiOS video subscriber base<\/a> went up 7% from last year to 5.533 million (adding a net 114,000 subscribers). In addition, broadband connections increased 1.7% from last year to 9.146 million.[5]<\/a> Although the company is falling short of profit expectations, it seems as though they can detest their revenue drive to FiOS, as FiOS represented 74% of the company\u2019s total revenue during the first quarter of 2014, and is continuing to do so.\u00a0[7]<\/a><\/p>\n
FiOS TV Interactive Media Guide\u00a0<\/span><\/strong><\/p>\n
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There are many changes being brought to FiOS that may explain its success for the company. Verizon has revamped its FiOS TV Interactive Media Guide<\/a> for TV and mobile, improving the personalization, management abilities, and user interface for customers.[8]<\/a> Customers will now receive search results and recommendations for shows and movies based on their viewing behavior. Rotten Tomatoes<\/a>\u00a0Movie Reviews and FiOS TV star ratings will also appear when customers are viewing specific content via their guide, with cast and crew biographies as well. [8]<\/a>\u00a0The new changes also come with a \u201cMy FiOS TV\u201d feature that connects users to social media.\u00a0[9]\u00a0<\/a><\/p>\n
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Customers can see what\u2019s being discussed about their favorite shows via Twitter<\/a>.[9]\u00a0<\/a> These new changes are one of many incentives from the company to try and meet the demands of consumers and their reliance on media.\u00a0 These changes offer a comparison to one of Verizon\u2019s competitors Comcast<\/a>, and its recently upgraded mobile user interface with similar user-friendly personalization updates.[9]\u00a0<\/a><\/p>\n
TV Everywhere<\/strong><\/span><\/p>\n
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The company is not only updating its guide to keep up with consumer\u2019s growing reliance on media and need for entertainment on multiple platforms. In October, the company renewed its carriage agreement with Viacom<\/a>. [10]\u00a0<\/a>\u00a0These new agreements seem to meet the demands of people\u2019s need for \u2018TV Everywhere<\/a>.\u201d Soon, Verizon customers will be able to stream Viacom programming in and out of their homes. [10]\u00a0<\/a>Viacom content such as music and entertainment programming will be available 24\/7 on multiple platforms and will include 25 Viacom networks such as MTV<\/a>, Nickelodeon<\/a> and Comedy Central<\/a>.\u00a0[11]<\/a> This agreement not only allows customers to gain access to live and on-demand content through the FiOS mobile App, but gain access to Video On-Demand content through various Viacom TV Everywhere websites and Apps as well. [11]<\/a>As the industry is moving toward more content on mobile, the company is trying to keep up and avoid loosing subscribers by providing opportunities such as these to provide more TV Everywhere options.<\/p>\n
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\u201cPeople want to watch TV anywhere, not just in their living rooms. Disruption in the TV marketplace is happening and Verizon wants to reach agreements with content providers like Viacom that reflect that reality and give people what they want. We are thrilled to extend our long-term distribution partnership with Viacom Media Networks, delivering some of the most recognizable and popular kids, music and entertainment programming available to our customers anytime, anywhere on a variety of platforms from TV to wireless. \u201c-Ben Grad, Verizon’s executive director of content strategy & acquisition \u00a0[12]\u00a0<\/a><\/p>\n
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FiOS Quantum Gateway<\/strong><\/span><\/p>\n
In addition to consumer\u2019s need for entertainment in a variety of platforms, consumers also want their content as fast as possible. After complaints of slow download speeds over the summer, specifically when streaming Netflix<\/a>, it seems as though the company is approaching these problems with the launch of FiOS Quantum Gateway<\/a>.[13]<\/a> (released in November 2014)<\/p>\n