July 29, 2019
Dish Network may be getting into the wireless business, but in the meantime, it remains a pay-TV operator.
The company July 28 announced it added 48,000 net Sling TV subscribers in the second quarter ended June 30. That compared to a gain of 41,000 subs in the previous-year period.
Sling TV, which ushered in the standalone online TV market in 2015, ended the quarter with 2.47 million subs – up 128,000 subs from 2.34 million subs last year.
“The increase in net Sling TV subs was primarily related to higher Sling TV sub activations, partially offset by increased competition, including competition from other OTT service providers,” Dish wrote in the fiscal filing.
Separately, Dish’s legacy satellite pay-TV service continues to lose customers. It lost 79,000 net subs, which was an improvement over 192,000 subs lost during the same period last year.
Dish ended the quarter with 12.03 million subs — down 965,000 subs from 12.99 million subs in the previous-year period.
The company has lost 290,000 satellite TV subs in the first six months of the 2019 fiscal year. That compared to a loss of 245,000 subs during the same period in 2018.
“The decrease in pay-TV subs resulted in fewer Dish TV subscriber losses and higher net Sling TV subscriber additions,” Dish wrote.
Regardless, the steady downward spiral in pay-TV subscribers contributed to a near 28% decline in Q2 net income at $317 million from $438 million last year.
Revenue declined 7.5% to $3.16 billion compared to revenue of 3.42 billion last year.