CEO Lowell McAdams looking to up penetration with FiOS video service
Redbox Instant by Verizon, a venture with Redbox parent Coinstar, is in internal employee beta testing now and will be opened up to consumers “in a beta sort of format” in late January or early February, McAdam said. “We feel sort of good about it. We are cautiously optimistic.” But he noted that it’s hard to be more definitive “until you are out there commercially for about six months or so.” He said FiOS has stopped offering steep discounts and has seen its margin plateau on its way to rising. “We have done some price-ups. When I compare (FiOS) with a year ago, I feel we were undervaluing FiOS. It was a superior product in the market, but we were positioning it as an insurgent product.”
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