January 13, 2023
DirecTV is cutting around 10 per cent of management staff as more pay-TV subscribers cut the cord.
“We’re adjusting our operations costs to align with these changes and will continue to invest in new entertainment products and service enhancements,” said the US pay-TV provider.
DirecTV was spun off from AT&T to private-equity in 2021 in a deal worth $49 billion. Since then it has been cutting costs, including programming. It now has around 13 million subs after several quarters of losses in the hundreds of thousands.
DirecTV was recently relieved to see the back of its NFL out-of-market games package, Sunday Ticket. Sunday Ticket will be moving to Google’s YouTube TV and YouTube Premium Channels for about $2 billion a year. DirecTV had about 1.5 million Sunday Ticket subscribers and was losing about $500 million a year on the $1.5 billion it was paying the NFL.