DISH Network loses 957,000 net pay TV subscribers in 2022

DISH Network Announces Secured Debt Offering

ENGLEWOOD, Colo. — DISH Network Corporation (“DISH Network”) (NASDAQ: DISH) today announced that it plans to offer, subject to market and other conditions, approximately $500 million aggregate principal amount of its senior secured notes. The net proceeds of the offering are intended to be used for general corporate purposes, including the buildout of wireless infrastructure. The notes will be secured by certain assets of certain DISH Network subsidiaries.

The notes will only be offered and sold to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and in offshore transactions in accordance with Regulation S under the Securities Act. The notes being offered have not been registered under the Securities Act or the securities laws of any other jurisdiction. The notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes; nor shall there be any sale of these notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Preliminary operating metrics as of and for the year ended December 31, 2022

On January 17, 2023, DISH Network announced certain preliminary estimated operating metrics as of and for the year ended December 31, 2022.

DISH Network Corporation – Preliminary Estimated Operating Metrics

                                                                As of and for
                                                               the year ended
                                                            December 31, 2022
                                                                  (unaudited)   
                                                            -----------------
Subscriber Data:           
Pay-TV subscribers, as of period end (in millions)                      9.750   
 DISH-TV subscribers, as of period end (in millions)                    7.416   
 SLING TV subscribers, as of period end (in millions)                   2.334   
Pay-TV subscriber additions (losses), net (in millions)               (0.957)  
 DISH TV subscriber additions (losses), net (in millions)             (0.805)  
 SLING TV subscriber additions (losses), net (in millions)            (0.152)  
DISH TV subscriber additions, gross (in millions)                       0.634   
DISH TV churn rate                                                      1.54%
             
Wireless subscribers, as of period end (in millions)*                   7.983   
Wireless subscriber additions, gross (in millions)                      3.418   
Wireless subscriber additions (losses), net (in millions)**           (0.576)  
Wireless churn rate                                                     4.46%

* During the second quarter of 2022, we removed approximately 126,000 subscribers from our ending Wireless subscriber count representing wireless subscribers who did not migrate off the CDMA network prior to the shutdown. The effect of the removal of the 126,000 subscribers was excluded from the calculation of our net Wireless subscriber additions/losses and Wireless churn rate. In addition, during the third quarter of 2022, approximately 139,000 Boost Affiliate Subscribers were transferred to us and are included in our ending Wireless subscriber count and excluded from our gross new Wireless subscriber activations. See further information regarding these adjustments under “Wireless – Retail Wireless” in our Form 10-Q for the quarter ended September 30, 2022.
** Includes Affordable Connectivity Program/Gen Mobile subscribers.

DISH Network also announced that, as of December 31, 2022, it had started construction on over 15,000 5G sites, which, if completed, are capable of providing broadband coverage to over 60% of the U.S. population. Construction starts are continuing at a rate of approximately 1,000 5G sites per month.