AT&T U.S. down 1,358k; Vrio down 167k video subs in 3Q 2019

DALLAS — AT&T Inc. (NYSE:T) has reported results for the third quarter of 2019.

Entertainment Group

Subscriber Metrics:

• Premium TV subscribers: (1,163,000) net loss due to customers rolling off promotional discounts, programmer disputes and competition as well as lower gross adds due to the continued focus on adding higher value customers
• AT&T TV NOW subscribers: (195,000) net loss due to higher prices and less promotional activity

Video (in thousands):

                                                                           Three Months Ended
               ------------------------------------------------------------------------------
               12/31/17   3/31/18   6/30/18   9/30/18  12/31/18   3/31/19   6/30/19   9/30/19
               --------  --------  --------  --------  --------  --------  --------  --------
Connections
  Satellite      20,458    20,270    19,984    19,625    19,222
  U-verse         3,631     3,632     3,656     3,669     3,681
               --------  --------  --------  --------  --------  --------  --------  --------
 Premium TV      24,089    23,902    23,640    23,294    22,903    22,359    21,581    20,418 
 Over-the-Top*    1,155     1,467     1,809     1,858     1,591     1,508     1,340     1,145
               --------  --------  --------  --------  --------  --------  --------  --------
Total            25,244    25,369    25,449    25,152    24,494    23,867    22,921    21,563

Net Adds                  
  Satellite        -147      -188      -286      -359      -403
  U-verse           -60         1        24        13        12
               --------  --------  --------  --------  --------  --------  --------  --------
 Premium TV        -207      -187      -262      -346      -391      -544      -778    -1,163
 Over-the-Top*      368       312       342        49      -267       -83      -168      -195
               --------  --------  --------  --------  --------  --------  --------  --------
Total               161       125        80      -297      -658      -627      -946    -1,358

* Over-the-top connections include AT&T TV NOW and exclude WatchTV, which launched near end of June 2018, during its promotional period. AT&T TV NOW connections as of 3Q19 include 12 thousand free or substantially free trial-period subscribers. AT&T has successfully retained many subscribers after the expiration of their trial period.

Latin America – Vrio

Subscriber Metrics:

• 167,000 net losses; total subscribers at the end of the quarter were 13.3 million

Video (in thousands):

                                                                           Three Months Ended
               ------------------------------------------------------------------------------
               12/31/17   3/31/18   6/30/18   9/30/18  12/31/18   3/31/19   6/30/19   9/30/19
               --------  --------  --------  --------  --------  --------  --------  --------
Connections      13,629    13,573    13,713    13,640    13,838    13,584    13,473    13,306
Net Adds            139       -15       140       -73       198       -32      -111      -167