DISH has been struggling financially for some time now. Recently, it merged with EchoStar in an effort to address these issues, but according to an SEC filing DISH will use a “substantial amount of cash” in the next 12 months. It “raises substantial doubt about [the company’s] ability to continue as a going [sic] concern,” EchoStar said in its filing today.
DISH also raised serious “substantial doubt” about the company’s ability to continue. Now according to MoffettNathanson analyst Craig Moffett, DISH’s pay TV service and mobile business is “spiraling towards bankruptcy.”
Cord Cutters News reached out to DISH for comment on these warnings about its future. DISH’s parent company Echostar did not reply before the time of publication.
DISH Network, the satellite television provider, reported its fourth quarter 2023 earnings with a net loss of $2.029 million, alongside subscriber declines in both its core satellite TV service and Sling TV streaming platform.
The company lost a total of 314,000 TV subscribers in Q4 and an additional 123,000 losses in its wireless segment, leaving it with 7.38 million TV subscribers. Sling TV, DISH’s streaming service, lost roughly 60,000 subscribers, bringing its total down to 2.06 million. This signifies a continued trend of subscriber losses for DISH, up from the 268,000 subscribers lost in the same quarter of 2022.
These losses come as DISH invests heavily in building out its 5G network infrastructure, aiming to become a major competitor in the wireless market currently dominated by companies like AT&T, T-Mobile, and Verizon.
DISH reportedly needs an additional $3 billion to finish its 5G network buildout. The question now is can DISH finish its 5G network buildout before it faces bankruptcy.
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