Verizon CFO calls pay TV profit margin trends 'really not sustainable'
At an investor conference in Barcelona Matt Ellis didn't share early user figures, but predicted"a pretty significant number" of eligible Verizon customers would take advantage of the promotional partnership.
their Disney+ subscriber forecasts on the deal as they highlighted it could potentially add millions in new customers for Disney+., Ellis said it was "too early" for that. Approximately 17 million Verizon wireless accounts are unlimited, and "a pretty significant number" of that are expected to take advantage of the offer, he said without sharing a more specific subscriber forecast.
The first 12 months of a subscriber's Disney+ will show up in Verizon's cost of service given it is a promotion. If a subscriber continues past the 12 months and then pays $6.99 a month for Disney+, "they can do that through their Verizon bill and then we obviously pay Disney some portion of that," the CFO said, without disclosing how big that portion is. "You will see that $6.99 show up in revenue and the part that we pass on to Disney show up in the cost line.
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