2023 has been a tough year DISH, with losses in its TV and wireless business. Now as it struggles with money DISH says it has a path but a narrow path. This all comes as DISH struggles with cord cutting and its plans to build out its own 5G wireless network.
“We have a narrow path, but there is a path, to achieve financial stability and make sure we meet our commitments,” Chairman Charlie Ergen said in DISH’s 3rd quarter earnings. “Having been through this for a long time, we’ve had narrow paths before.”
DISH announced its 3rd quarter 2023 earnings and reported that DISH and Sling TV lost 64,000 subscribers. This is great news as Sling TV has turned around recent losses and added customers in the 3rd quarter of 2023.
Sling TV added 117,000, and DISH lost 181,000 subscribers. In total, DISH now has 8,840,000 pay TV customers between the two brands, down from 8,904,000 during the same period in 2022. Sling TV now has 2.12 million subscribers, and DISH has 6.72 million subscribers.
One part of its plan to become financially stable appears to be layoffs. Shortly after that, DISH announced its 3rd quarter 2023 earnings it started to lay off 500 staff members in Colorado.
“Like most businesses, we continually evaluate and make adjustments to ensure we’re set up for long-term success. We made the difficult decision to part ways with some team members due to changing business demands on some teams. Impacted employees will be notified by the end of the week. A WARN notice has been filed with the Colorado Department of Labor and both the Englewood and Littleton mayor offices.” DISH went on to say.
The other part of its plan for financial stability seems to be a merger with Echostar. Merging DISH and Echostar could give dish the resources it needs to finish building out its 5G network.
DISH seems to be banking heavily on the idea that the future of the company is not just TV but in wireless. Currently, DISH is the 4th largest wireless company in the United States. Now though it relies on using networks from T-Mobile, for example. In the future, it hopes to have its own network to power Boost Mobile.
The question now is whether DISH will be able to finish its 5G network and keep the company running as it makes the transition.