DISH Network pay TV subscribers down 273,000 in 4Q 2021

DISH Network reports fourth quarter, year-end 2021 financial results

ENGLEWOOD, Colo. — DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.45 billion for the quarter ending December 31, 2021, compared to $4.56 billion for the corresponding period in 2020.

Net income attributable to DISH Network totaled $552 million for the fourth quarter 2021, compared to $733 million from the year-ago quarter. Diluted earnings per share were $0.87 for the fourth quarter, compared to $1.24 per share during the same period in 2020.

Pay-TV

Net pay-TV subscribers decreased approximately 273,000 in the fourth quarter, compared to a decrease of approximately 133,000 in the year-ago quarter.

The company closed the quarter with 10.71 million pay-TV subscribers, including 8.22 million DISH TV subscribers and 2.49 million SLING TV subscribers.

Wireless

Retail wireless net subscribers decreased by approximately 245,000 in the fourth quarter, compared to a net decrease of 363,000 in the year-ago quarter.

The company closed the quarter with 8.55 million retail wireless subscribers.

Full-Year 2021 Review

For the year, DISH reported 2021 total revenue of $17.88 billion, compared to $15.49 billion in 2020.

Net income attributable to DISH Network in 2021 was $2.41 billion, compared to $1.76 billion in 2020. Diluted earnings per share were $3.79 in 2021, compared to $3.02 in 2020.

Detailed financial data and other information are available in DISH Network’s Form 10-K for the year ending December 31, 2021, filed today with the Securities and Exchange Commission.

Quarterly Metrics

                                     Q4 2021  Q3 2021  Q2 2021  Q1 2021  Q4 2020  Q3 2020  Q2 2020  Q1 2020
                                     -------  -------  -------  -------  -------  -------  -------  -------
Subscribers, as of period end (in millions)
 Pay-TV                               10.707   10.980   10.993   11.060   11.290   11.423   11.272   11.323
  DISH TV                              8.221    8.424    8.554    8.686    8.816    8.965    9.017    9.012
  Sling TV                             2.486    2.556    2.439    2.374    2.474    2.458    2.255    2.311

Subscriber additions (losses), net (in millions)
 Pay-TV                              (0.273)  (0.013)  (0.067)  (0.230)  (0.133)    0.116  (0.096)  (0.413)
  DISH TV                            (0.203)  (0.130)  (0.132)  (0.130)  (0.149)  (0.087)  (0.040)  (0.132)
  Sling TV                           (0.070)    0.117    0.065  (0.100)    0.016    0.203  (0.056)  (0.281)

Pay-TV ARPU                           $97.53   $96.31   $96.32   $93.63   $94.47   $91.79   $92.17   $88.76

Subscriber additions, gross (in millions)
 DISH TV                               0.200    0.224    0.201    0.210    0.235    0.292    0.268    0.299

DISH TV churn rate                     1.61%    1.39%    1.29%    1.30%    1.44%    1.41%    1.14%    1.54%
DISH TV SAC                             $789     $824     $890     $790     $842     $864     $834     $861

Wireless (in millions)
 Subscribers, as of period end         8.546    8.774    8.895    8.894    9.055    9.418
 Subscriber additions, gross           1.049    1.098    0.964    1.032    0.989    1.104
 Subscriber additions (losses), net  (0.245)  (0.121)  (0.201)  (0.161)  (0.363)  (0.212)
Wireless ARPU                         $38.76   $39.25   $39.10   $38.89   $38.32   $38.17
Wireless Churn rate                    4.98%    4.61%    4.32%    4.44%    4.88%    4.64%