Satellite TV Subscriber Attrition Continued In DISH Q4 Results
The traditional satellite TV business continued to suffer subscriber attrition in the fourth quarter of 2021, following the release of financial results from DISH Network Thursday.
The direct-to-home satellite TV and over-the-top streaming services resource ended 2021 with 10.71 million total subscribers, including 8.22 million for DISH and 2.49 million subscribers for live OTT streaming service Sling TV.
The company said that for the year, the DISH satellite service lost 583,000 subscribers, following a 526,000 subscriber loss in 2020.
Net pay-TV subscribers decreased approximately 273,000 in the fourth quarter, compared to a decrease of approximately 133,000 in the year-ago quarter.
For the fourth quarter ending Dec. 31, 2021, the company reported revenue totaling $4.45 billion, compared to $4.56 billion for the corresponding period in 2020.
Net income attributable to DISH Network totaled $552 million for the fourth quarter 2021, compared to $733 million from the year-ago quarter.
In other businesses, retail wireless net subscribers decreased by approximately 245,000 in the fourth quarter, compared to a net decrease of 363,000 in the year-ago quarter.
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The company closed the quarter with 8.55 million retail wireless subscribers.
For the year, DISH reported 2021 total revenue of $17.88 billion, compared to $15.49 billion in 2020.
For the full year, net income attributable to DISH Network was $2.41 billion, compared to $1.76 billion in 2020.
DISH’s satellite TV rival DirecTV was spun off by parent AT&T last summer.
Concerning the fall-off from its OTT streaming service Sling TV, Dish attributed the results to increased competition.
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By Greg Tarr
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