Tuesday, June 18, 2019

VERIZON EXEC PREDICTS CONSUMERS WILL CUT CORDS TO CABLE

December 8, 2010 by · Leave a Comment 

Verizon Communications Inc. Chief Executive Ivan Seidenberg has taken issue with cable company executives who insist that their subscribers are not “cutting the cord” — i.e., dumping their cable subscriptions and accessing video sites on the Internet for their TV shows instead. Speaking at a Goldman Sachs investor’s conference in New York on Tuesday, Seidenberg maintained that 4G wireless technology, which his company began rolling out this week, will over time have a major impact on television distribution. “We never thought anybody would cut the cord on [telephone land lines}, right? We have got 30 percent of our customers cutting the cord [switching to wireless].” Seidenberg said that his company expects its 4G network will initially serve as a limited substitute for cable, serving alongside its wired FiOS system that provides even faster Internet connections and which has capabilities that 4G wireless does not — to deliver streaming high-definition 3D images, for example.