DISH Network, the satellite television provider, reported today its fourth quater 2023 earnings with a net loss of $2.029 million in its fourth quarter 2023 earnings, 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.
“We closed the year with the completion of the merger with DISH Network. The transaction combined DISH Network’s satellite technology, streaming services, engineering expertise, retail wireless business, and nationwide 5G network with EchoStar’s premier satellite communications solutions, enterprise go-to-market capabilities, and U.S.-based manufacturing. Collectively, it creates a global leader in terrestrial and non-terrestrial wireless connectivity, and entertainment services,” said Hamid Akhavan, president and CEO, EchoStar Corporation. “With the close of the merger, we will continue to integrate our business and realize savings and operational efficiencies. We also will increase our focus on identifying and targeting the best, most profitable customers in each of our addressable market segments – Pay-TV, Retail Wireless, and Broadband and Satellite Services.”
DISH reportedly needs an additional $3 billion to finish its buildout of its 5G network. The company is scheduled to hold a press conference at 12 pm Eastern on Friday to discuss its 4th quarter 2023 earnings.
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