DISH Network pay TV subscribers down 133,000 in 4Q 2020

DISH Network reports fourth quarter, year-end 2020 financial results

ENGLEWOOD, Colo. — DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.56 billion for the quarter ending December 31, 2020, compared to $3.24 billion for the corresponding period in 2019.

Net income attributable to DISH Network totaled $733 million for the fourth quarter 2020, compared to $389 million from the year-ago quarter. Diluted earnings per share were $1.24 for the fourth quarter, compared to $0.69 per share during the same period in 2019.

Pay-TV

Net pay-TV subscribers decreased approximately 133,000 in the fourth quarter, compared to a decrease of approximately 194,000 in the year-ago quarter.

The company closed the quarter with 11.29 million pay-TV subscribers, including 8.82 million DISH TV subscribers and 2.47 million SLING TV subscribers.

Wireless

Retail wireless net subscribers decreased by approximately 363,000 in the fourth quarter, compared to a net decrease of 212,000 in the third quarter.

The company closed the quarter with 9.06 million retail wireless subscribers.

Full-Year 2020 Review

For the year, DISH reported 2020 total revenue of $15.49 billion, compared to $12.81 billion in 2019.

Net income attributable to DISH Network in 2020 was $1.76 billion, compared to $1.40 billion in 2019. Diluted earnings per share were $3.02 in 2020, compared to $2.60 in 2019.

Detailed financial data and other information are available in DISH Network’s Form 10-K for the year ending December 31, 2020, filed today with the Securities and Exchange Commission.

Quarterly Metrics                         Q4 2020  Q3 2020  Q2 2020  Q1 2020  Q4 2019  Q3 2019  Q2 2019  Q1 2019
                                          -------  -------  -------  -------  -------  -------  -------  -------
Pay-TV subscribers, as of period end (in millions)
 Total                                     11.290   11.423   11.272   11.323   11.986   12.180   12.032   12.063
  DISH TV                                   8.816    8.965    9.017    9.012    9.394    9.494    9.560    9.369
  Sling TV                                  2.474    2.458    2.255    2.311    2.592    2.686    2.472    2.424

Pay-TV subscriber additions (losses), net (in millions)
 Total                                    (0.133)    0.116  (0.096)  (0.413)  (0.194)    0.148  (0.031)  (0.259)
  DISH TV                                 (0.149)  (0.087)  (0.040)  (0.132)  (0.100)  (0.066)  (0.079)  (0.266)
  Sling TV                                  0.016    0.203  (0.056)  (0.281)  (0.094)    0.214    0.048    0.007

Pay-TV ARPU                                $94.47   $91.79   $92.17   $88.76   $87.02   $85.29   $86.34   $85.03

DISH TV
 Subscriber additions, gross (in millions)  0.235    0.292    0.268    0.299    0.341    0.416    0.348    0.243
 Churn rate                                 1.44%    1.41%    1.14%    1.54%    1.56%    1.69%    1.48%    1.74%
 SAC                                         $842     $864     $834     $861     $850     $827     $786     $828

Wireless subscribers (in millions)
 Total, as of period end                    9.055    9.418
 Additions, gross                           0.989    1.104
 Additions (losses), net                  (0.363)  (0.212)
Wireless ARPU                              $38.32   $38.17
Wireless churn rate                         4.88%    4.64%