EchoStar drops 100k+ pay-TV subs
August 9, 2024
In reporting its Q2 results, EchoStar revealed its net pay-TV subscribers decreased by approximately 104,000 in the second quarter, compared to 294,000 in the year ago quarter. This included 6.07 million Dish TV subscribers (down from 6.26 million) and 2 million Sling TV subscribers (up from 1.92 million).
The company posted a Q3 net loss of $205.6 million, compared to net income of $212.7 million a year ago. Revenue fell 9 per cent to $3.95 billion from $4.35 billion a year ago. Operating income before depreciation and amortisation for Echostar’s pay-TV business was $735 million, down from $818 million a year ago. Pay-TV revenue was $2.676 million, down from $2.97 million.
Broadband net subscribers decreased by approximately 23,000 in Q2, compared to 55,000 in the year ago quarter. The company closed the quarter with 955,000 broadband subscribers.
“The EchoStar team continued to perform as planned in the second quarter of 2024. We directed efforts on aligning key business synergies and objectives, focusing on profitable customer acquisition and retention efforts, and making improvements in our go-to-market approach for Retail Wireless,” commented CEO Hamid Akhavan. “In addition, we are in constructive discussions to address necessary financing, working to strengthen our consumer offerings and value propositions, enhancing our state-of-the-art Open RAN network, and driving profitability across the enterprise.”