DISH Network, a leading satellite TV provider, announced a net loss of approximately 104,000 Pay-TV subscribers in the second quarter of 2024, a significant improvement compared to the 294,000 subscriber loss in the same period last year. The company attributed the slower decline to subscriber additions to its SLING TV streaming service and a reduced churn rate for its traditional DISH TV satellite service.
This comes as Sling TV returned to adding new subscribers in the 2nd quarter after recently losing subscribers.
“The EchoStar team continued to perform as planned in the second quarter of 2024. We directed efforts on aligning key business synergies and objectives, focusing on profitable customer acquisition and retention efforts, and making improvements in our go-to-market approach for Retail Wireless,” said Hamid Akhavan, president and CEO, EchoStar Corporation. “In addition, we are in constructive discussions to address necessary financing, working to strengthen our consumer offerings and value propositions, enhancing our state-of-the-art Open RAN network, and driving profitability across the enterprise.”
As of the end of the second quarter, DISH Network reported a total of 8.07 million Pay-TV subscribers, consisting of 6.07 million DISH TV subscribers and 2 million SLING TV subscribers. While the company continues to face challenges in attracting new DISH TV customers, the growth in SLING TV subscribers and improved retention rates offer a glimmer of hope in the increasingly competitive pay-TV market.
The company’s focus on enhancing its streaming offerings and improving customer experience appears to be paying off, with SLING TV emerging as a key driver of subscriber growth. DISH Network’s efforts to stabilize its traditional satellite TV business, coupled with the expansion of its streaming platform, could help the company navigate the ongoing cord-cutting trend and position itself for future growth in the evolving media landscape.