Dish Network, a US satellite television provider, has reported a loss of approximately 64,000 net pay TV subscribers in the third quarter. This is a significant decline compared to the gain of 30,000 subscribers in the same period last year and the loss of 294,000 subscribers in the second quarter of this year. The company disclosed this information in a regulatory filing early on Monday.
While Dish Network saw a decrease in its traditional satellite TV business, it added around 117,000 subscribers to its streaming service, Sling TV, in the latest quarter. This brings the total number of Sling TV subscribers to 2.12 million as of September. However, the decline in its satellite TV business resulted in a net decline of approximately 181,000 customers, leaving Dish Network with 6.72 million traditional pay TV subscribers.
Overall, Dish Network’s total pay TV users as of September 2023 amounted to 8.84 million. This is a decrease from nearly 10.02 million in September 2022 and 10.98 million in 2021. The company’s quarterly revenue also declined to $3.70 billion from $4.10 billion in the corresponding period last year. Additionally, Dish Network swung to a loss of $139 million in the third quarter, compared to a profit of $412 million in the same period a year ago.
The decrease in net Dish TV subscriber losses in the third quarter of 2023, compared to the same period in 2022, was primarily due to lower disconnects. Dish TV subscriber activations also decreased, partially offsetting the decline. On the other hand, Sling TV saw a decrease in net subscriber additions in the third quarter of 2023 compared to the same period in 2022, primarily due to lower activations and higher disconnects. Dish Network attributed these trends to increased competition in the industry, including competition from other subscription video-on-demand and live-linear OTT service providers.
Dish Network’s president and CEO, W. Erik Carlson, and chairman, Charlie Ergen, acknowledged the challenges the company is facing in the regulatory filing. Not only are they dealing with subscriber losses, but they also have to contend with the growing popularity of streaming services and the flexibility they offer to consumers. Many of these services are providers of Dish Network’s content and offer popular sports programming. They are able to deliver this content on an a la carte basis, making them a strong alternative to traditional pay TV providers.
Looking ahead, Dish Network will need to find ways to adapt to the changing landscape of the TV industry. Emphasizing their streaming service, Sling TV, could be one strategy to attract more subscribers. The company will also need to focus on providing unique and compelling content to differentiate themselves from competitors. Additionally, exploring partnerships and collaborations with other streaming platforms or content providers could help Dish Network expand its reach and offerings.
In conclusion, Dish Network experienced a decline in pay TV subscribers in the third quarter of 2023. While its traditional satellite TV business recorded a net decline, the company added subscribers to its streaming service, Sling TV. The overall decrease in subscribers and revenue highlights the challenges Dish Network is facing in a highly competitive market. To stay relevant, the company will need to adapt and innovate in order to meet the changing demands of consumers.