Dish Network, which published fourth-quarter results Wednesday, lost 336,000 accounts in 2019.
Photo: mario anzuoni/ReutersDish Network Corp. lost nearly 200,000 television customers in the fourth quarter as the satellite company laid plans to invest in a still-unfinished wireless phone network.
The Englewood, Colo., company shed 100,000 satellite-TV customers during the last three months of 2019 and dropped another 94,000 subscribers at Sling, its low-cost bundle of channels streamed over the internet.
U.S. customers continued to abandon pay-TV services last year as many viewers switched to on-demand services from Netflix Inc. and new entrants from Apple Inc. and Walt Disney Co. Those services still lack live sports and news but offer viewers more flexible entertainment at lower prices.
Dish lost 336,000 accounts in 2019 to end the year with just under 12 million subscribers. AT&T Inc., which owns Dish rival DirecTV, lost more than 4 million U.S. pay-TV accounts and ended the year with 20.4 million subscribers.
Overall, Dish reported a fourth-quarter net income of $389 million, compared with $337 million in the same quarter a year earlier. Revenue for the quarter slipped about 2% to $3.24 billion.
A federal judge last week approved T-Mobile US Inc.’s takeover of Sprint Corp., offering Dish a way to enter the cellular market under a deal arranged by the U.S. Department of Justice. U.S. District Judge Victor Marrero said the deal would benefit consumers by setting up Dish as a new phone service provider.
Dish Chairman Charlie Ergen testified in the December trial over the merger, saying his company was more motivated than Sprint to be in the wireless sector. He also highlighted the company’s history of competitive prices, which yielded a rare TV customer gain during the third quarter.
Dish said in a securities filing Wednesday it expects to spend between $250 million and $500 million this year on wireless projects. The company has said it expects its overall 5G, or fifth generation, wireless network to cost about $10 billion.
Write to Drew FitzGerald at andrew.fitzgerald@wsj.com and Dave Sebastian at dave.sebastian@wsj.com
Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
"network" - Google News
February 19, 2020 at 07:44PM
https://ift.tt/2V6ufte
Dish Network’s Customer Base Slips Under 12 Million - The Wall Street Journal
"network" - Google News
https://ift.tt/2v9ojEM
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment