Charlie Elgen
Courtesy of Dish
dish network reported that it lost about 552,000 net pay-TV subscribers in the first quarter, compared with a decline of 462,000 in the same period last year and a decline of 268,000 in the fourth quarter of 2022.
Led by CEO Erik Carlson and Chairman Charlie Ergen, the company ended the fiscal quarter with 9.2 million total subscribers. That includes 7.09 million Dish TV customers and his 2.1 million Sling TV subscribers, which face stiff competition from YouTube TV, Hulu + Live TV and fuboTV.
Dish has consistently lost pay-TV subscribers amid cord cuts and a consumer shift to streaming platforms. 9.75 million people.
Dish aims to transform itself from a declining satellite TV provider into a company offering 5G wireless networks as part of its broadband wireless business. The company lost 81,000 mobile subscribers in the first quarter and 343,000 customers in the same period last year, ending the latest quarter with 7.91 million subscribers.
The latest subscriber loss — Dish’s retail satellite TV business is losing subscribers at a faster pace than losses in its retail wireless business — was up in the first quarter compared with $4.33 billion in the same period last year. decreased overall revenue to $3.96 billion.
Additionally, net income attributable to shareholders decreased to $233 million from $433 million in the first quarter of 2022.
Dish Network executives will host a conference call of analysts to discuss the latest financial results on Monday morning.