Advanced Television

Echostar $2bn+ loss on pay-TV decline

March 1, 2024

Net pay-TV subscribers fell by 314,000 to 8.53 million as Echostar posted a $2.03 billion (€1.87bn) loss for Q4.

The company said the loss was primarily attributable to a non-cash goodwill impairment charge of $758 million, and an adjustment to the carrying value of the 800 MHz purchase option totalling approximately $1.6 billion. Revenue fell 8 per cent to $4.16 billion.

Dish TV satellite subscribers fell to 6.47 million from 6.82 million in the third quarter. Sling TV subscribers dropped to 2.06 million from 2.12 million last quarter. Pay-TV revenue fell 12 per cent to $2.8 million from $3.2 million a year ago.

“We closed the year with the completion of the merger with Dish Network. The transaction combined Dish Network’s satellite technology, streaming services, engineering expertise, retail wireless business, and nationwide 5G network with EchoStar’s premier satellite communications solutions, enterprise go-to-market capabilities, and US-based manufacturing,” said Dish CEO Hamid Akhavan.

“Collectively, it creates a global leader in terrestrial and non-terrestrial wireless connectivity, and entertainment services. With the close of the merger, we will continue to integrate our business and realise savings and operational efficiencies. We also will increase our focus on identifying and targeting the best, most profitable customers in each of our addressable market segments – Pay-TV, Retail Wireless, and Broadband and Satellite Services,” Akhavan added.

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