Verizon serves up 100 Mbps symmetrical FiOS tier, cuts 150 Mbps pricing

Verizon (NYSE: VZ) may be in the process of selling off its wireline assets in Florida to Frontier, but its move to offer new and existing FiOS customers that reside in the Tampa Bay region a 100 Mbps symmetrical speed tier shows the telco still sees value in its FTTH product line.

In addition to the 100 Mbps tier, the service provider has also reduced the price of its symmetrical 150 Mbps tier.

According to Verizon's FiOS site, the price for the standalone 150 Mbps Internet speed starts at a competitive price of $64.99 a month.

These new speed tiers are part of what Verizon said are new bundled offers being introduced where Verizon offers its FTTH services to nearly 1.3 million premises in Hillsborough, Pinellas, Pasco, Polk, Manatee and Sarasota counties.

Eligible Tampa Bay consumers have the option to purchase a triple-play bundle across its symmetrical 50, 100 and 150 Mbps speed tiers: a 50/50 Mbps symmetrical Internet, Custom TV and FiOS Digital Voice package is $79.99 a year; the 100/100 Mbps, Custom TV and Fios Voice is $89.99 per year; and the 150 Mbps, Custom TV and Fios Voice for $99.99 per year. These are available with a two-year contract or month-to-month.

Verizon said that customers who agree to sign a two-year contract will not see service pricing change. Also, customers have the option of receiving either a $300 Visa Reward card or $15 per month off of the price for Verizon's recording and storage service for a two-year period. Finally, customers will receive a fully-loaded entertainment pack for one year, featuring HBO, Showtime, STARZ, Cinemax and Epix for no additional cost.

Besides these bundle options, customers can choose plans that include Internet speeds or other TV plans, depending on their specific service needs.

Symmetrical FiOS Internet speeds have become a big seller for Verizon. During the second quarter, Verizon said that the highest growth rate is in the 75 Mbps speed tier, to which 23 percent of FiOS customers subscribe.

Lowell McAdam said during a recent Goldman Sachs conference that while it is still seeing growth in its linear TV business, more of Verizon's customer base is leveraging broadband connections to access over the top services.

By continuing to increase its broadband speeds, Verizon hopes to address the so-called millennial generation. According to company estimates, 40 percent of millennials don't have a traditional TV or subscribe to a pay-TV service in their home, while another 20 percent have a TV service but are thinking of cutting it.

McAdam said that "we'll continue to support the linear TV for those customers that want it, but it's very clear that the market is moving towards broadband, skinnier bundles, and over the top."

For more:
- see the release

Related articles:
Verizon makes all of its FiOS broadband tiers symmetrical, upgrades new, existing users for free
Verizon's FiOS Internet growth slows in second-quarter 2015 despite uptick in 75 Mbps speed adoption
Verizon to introduce 500 Mbps FiOS for $310 per month
Verizon unveils FiOS 300 Mbps data speed tier, doubles existing tiers

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