Verizon Communications Inc. (NYSE:VZ) has announced to roll out a new pay-TV bundle that would allow FiOS customers to select their preferred channels every month. With this new move, Verizon hopes to attract an increasing number of customers away from rivals in the cable industry as well as nascent web TV companies.
The new pay-TV bundle is actually a base package comprising of 35 channels with a connection to the Internet. Customers are required to pay $ 65 to subscribe to the new bundle, along with a couple of additional channel packages. The additional packages are bundled according to genre, similar to the way Sling TV organizes its own bundles. For instance, Entertainment, Lifestyle, Pop Culture, News and Info, Sports, and Kids.
The basic plan will cost $ 55 for the mandatory channels (about 35 total) and two channel packs. Additional packs will cost $ 10 each and can be switched monthly. Verizon will also continue to offer various TV bundles that include Internet access or phone service.
The move comes as competitors like Dish Network are already offering cheaper, slimmed-down cable bundles. Sling TV and HBO are offering content without the need for a cable subscription at all. Apple is also rumored to be working on a smaller cable bundle that would stream channels over the Internet and cost $ 30 to $ 40 per month.
Consumers will be able to change the packages every month. The current prices offered by Verizon come with a two-year contract. TV and broadband internet plan will cost $ 75 per month for 50 megabits per second speed.
Major TV networks have always resisted the plans of networks to offer ‘a la carte’ plans to consumers. Many popular TV channels will gain with the move while some of the less popular TV channels might see massive decline in subscriber numbers.
Verizon said, “The ease and flexibility is unique and different. We listened to what our customers want—millennials, cord shavers, cord cutters—and delivered Custom TV—an industry first.”
FiOS TV- Verizon offers more options to consumers with new FiOS TV bundles - Observer Chronicle
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