DISH Network pay TV subscribers down 462,000 in 1Q 2022

DISH Network reports first quarter 2022 financial results

ENGLEWOOD, Colo. — DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.33 billion for the quarter ending March 31, 2022, compared to $4.50 billion for the corresponding period in 2021.

Net income attributable to DISH Network totaled $433 million for the first quarter 2022, compared to $630 million for the year-ago quarter.

Diluted earnings per share were $0.68 for the first quarter, compared to $0.99 per share during the same period in 2021.

Pay-TV

Net pay-TV subscribers decreased approximately 462,000 in the first quarter, compared to a decrease of approximately 230,000 in the year-ago quarter.

The company closed the quarter with 10.24 million pay-TV subscribers, including 7.99 million DISH TV subscribers and 2.25 million SLING TV subscribers.

Wireless

Retail wireless net subscribers decreased by approximately 343,000 in the first quarter, compared to a net decrease of 161,000 in the year-ago quarter.

The company closed the quarter with 8.20 million retail wireless subscribers.

Additional Details

Detailed financial data and other information are available in DISH Network’s Form 10-Q for the quarter ending March 31, 2022, filed today with the Securities and Exchange Commission.

DISH also will host an Analyst Day on May 10, 2022, at 4 p.m. ET. A live webcast of the Analyst Day event will be available on DISH’s Investor Relations website.

Quarterly Metrics

                                     Q1 2022  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                               10.245   10.707   10.980   10.993   11.060   11.290   11.423   11.272   11.323
  DISH TV                              7.993    8.221    8.424    8.554    8.686    8.816    8.965    9.017    9.012
  Sling TV                             2.252    2.486    2.556    2.439    2.374    2.474    2.458    2.255    2.311

Subscriber additions (losses), net (in millions)
 Pay-TV                              (0.462)  (0.273)  (0.013)  (0.067)  (0.230)  (0.133)    0.116  (0.096)  (0.413)
  DISH TV                            (0.228)  (0.203)  (0.130)  (0.132)  (0.130)  (0.149)  (0.087)  (0.040)  (0.132)
  Sling TV                           (0.234)  (0.070)    0.117    0.065  (0.100)    0.016    0.203  (0.056)  (0.281)

Pay-TV ARPU                           $99.44   $97.53   $96.31   $96.32   $93.63   $94.47   $91.79   $92.17   $88.76

Subscriber additions, gross (in millions)
 DISH TV                               0.159    0.200    0.224    0.201    0.210    0.235    0.292    0.268    0.299

DISH TV churn rate                     1.59%    1.61%    1.39%    1.29%    1.30%    1.44%    1.41%    1.14%    1.54%
DISH TV SAC                           $1,088     $789     $824     $890     $790     $842     $864     $834     $861

Wireless (in millions)
 Subscribers, as of period end         8.203    8.546    8.774    8.895    8.894    9.055    9.418        -        -
 Subscriber additions, gross           0.938    1.049    1.098    0.964    1.032    0.989    1.104        -        -
 Subscriber additions (losses), net  (0.343)  (0.245)  (0.121)  (0.201)  (0.161)  (0.363)  (0.212)        -        -
Wireless ARPU                         $37.72   $38.76   $39.25   $39.10   $38.89   $38.32   $38.17        -        -
Wireless Churn rate                    5.11%    4.98%    4.61%    4.32%    4.44%    4.88%    4.64%        -        -