WHEN: Today, Friday, April 17th
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Verizon FiOS President Tami Erwin on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today. Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000372042.
All references must be sourced to CNBC.
ERWIN ON CUSTOMER CHOICE
We're doing this in direct response to what our customers have told us. Customers want choice and increasingly customers have choice on video and we've said very clearly we expect to be the preeminent broadband provider in the market, but we want to give customers choice on how they acquire and how they buy video.
ERWIN ON EXPECTATIONS
My expectation is that there will be some percentage of our customers that migrate to these new plans, but I think increasingly we will have new customers that are attracted to these plans. I think about millennials and how millennials are viewing video today for example. The plans that we're launching custom TV gives the customer a simple customizable package of content that they can then have the base and have local which local is very popular, but then choose from genres that are specific to their tastes and what they want from a video.
ERWIN ON BROADBAND
Broadband has great margins for us so to the extent we can be the preeminent best broadband provider in the marketplace and enable and give customers good choice on video, we think that's a good position for us financially.
ERWIN ON SCALING THE BUSINESS
I think we have the mass that we need to be very successful in this space and we're selling off our west properties and we've talked about selling off California, Texas, Florida, and even then we believe we have the mass up and down the eastern shore board to be very successful in this space.
ERWIN ON CONTENT
You look at the economics of going purely a la carte today, those aren't good economics for the business based on how content is sold today. But I think as you begin to look into the future, and how we expect customers will buy, I think this is absolutely a step in the right direction.
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