DISH Network sheds 96,000 subs
August 7, 2020
DISH Network Corporation, the US DTH broadcaster, has reported Q2 revenue totaling $3.19 billion (€2.7bn) for the quarter ending June 30th 2020, compared to $3.21 billion for the corresponding period in 2019.
Net income attributable to DISH Network totaled $452 million for the second quarter 2020, compared to $317 million from the year-ago quarter. Diluted earnings per share were $0.78 for the second quarter, compared to $0.60 per share during the same period of 2019.
DISH TV net subscribers decreased by approximately 40,000 in the second quarter, compared to a net decrease of 79,000 in the year-ago quarter. Sling TV net subscribers decreased by approximately 56,000 in the second quarter compared to a net increase of 48,000 in the year-ago quarter.
The Covid-19 pandemic caused significant disruption in certain commercial segments served by DISH, including the hospitality and airline industries. As a result, DISH paused service or provided temporary rate relief for approximately 250,000 commercial accounts and removed those accounts from its ending pay-TV subscriber count as of March 31st 2020. During the second quarter, 45,000 of these subscribers resumed normal service. Since DISH did not incur significant expenses related to the return of these commercial subscribers, they were added to the June 30, 2020 DISH TV subscriber count (without being recorded as new subscribers during the second quarter). Therefore, DISH TV’s subscriber count at June 30th 2020 increased by 5,000 subscribers when compared to March 31, 2020.
The company closed the quarter with 11.27 million pay-TV subscribers, including 9.02 million DISH TV subscribers and 2.25 million Sling TV subscribers.