Verizon says FiOS bet already paying off

Verizon says its planned $23 billion FiOS project is already more successful than it anticipated when it announced the project four years ago. The company says FiOS will be run past 19 million homes at a cost of about $4,000 per customer, but costs are dropping as the network expands.

Verizon told the New York Times that 20 percent of the homes where FiOS is available buy its video service and 24 percent buy its Internet service.

"I have yet to see a market where penetration has stopped growing," Robert J. Barish, Verizon's senior vice president and the chief financial officer of its wired communications division told the Times. "The network we are putting in is pretty future-proof, if we weren't doing FiOS, we would have invested a lot more money in our core network. We haven't needed to do that."

For more:
-See the New York Times story

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