Dish Network reported that it lost about 552,000 net pay TV subscribers in the first quarter, compared with a decline of 462,000 in the year-ago period and a drop of 268,000 in the fourth quarter of 2022.
The company, led by CEO Erik Carlson and chairman Charlie Ergen, ended the financial quarter with 9.2 million total subscribers. That includes 7.09 million Dish TV customers and 2.1 million Sling TV subscribers, which faces stiff competition from YouTube TV, Hulu+ Live TV and fuboTV.
Dish has been consistently losing pay TV subscriber amid cord-cutting and a shift in consumers to streaming platforms. The company had an overall pay TV customer base of 9.75 million at the end of the first quarter of 2022.
Dish is looking to transform itself from a satellite TV provider in decline to offering a 5G wireless network as part of a broadband wireless business. The company lost 81,000 wireless phone subscribers during the first quarter, against a year-earlier loss 343,000 customers to close the latest quarter with 7.91 million subscribers.
The latest subscriber losses — where Dish’s retail satellite TV business is shedding subscribers at a faster pace than losses for its retail wireless business — had overall revenues falling to $3.96 billion for the first quarter, compared to $4.33 billion in the year ago period.
And net income attributable to shareholders fell to $233 million, compared to $433 million for the first quarter of 2022.
Dish Network execs will hold an analyst call to discuss their latest financial results on Monday morning.
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