• Loading stock data...
Monday, November 25, 2024

Dish Network’s Hard Line On Sports Hits Company Earnings

  • Subscribers, revenue, and profit all down for embattled company.
  • Lagging performance follows years of hardline stances with sports programmers.
Wheeler Cowperthwaite/The Providence Journal / USA TODAY NETWORK

Dish Network has historically been one of the toughest negotiators in all of television, particularly in sports — and that hardline stance is now having a clear impact on its financial performance. 

On Monday, the company reported a net decrease of 64,000 subscribers across its Dish TV and Sling TV services, compared to a gain of 30,000 in the same period a year ago and revenue that fell to $3.7 billion from $4.1 billion in 2022’s third quarter.  

Churn rates are also increasing for Dish Network, leaving the company with a total of 8.84 million pay-TV customers, down from 10 million a year ago and 11 million two years ago.

In recent years, Dish Network has dropped all regional sports networks, conducted extended carriage and legal standoffs with several leagues and programmers, and placed channels such as the MLB Network, NBA TV, and NHL Network on only its most expensive tiers. 

“We continue to experience increased competition, including competition from other subscription video on-demand and live-linear OTT service providers, many of which are providers of our content and offer football and other seasonal sports programming direct to subscribers on an a la carte basis,” the company said in a filing with the U.S. Securities & Exchange Commission.

The company’s net loss of $139 million during the quarter also dramatically reverses a $412 million gain in last year’s third quarter and sent its stock down more than 30% in early trading Monday — leaving it on pace for its worst one-day performance.

With the ongoing issues in the company’s television operations and a debt load of more than $20 billion, Dish Network is increasingly trying to build a business in wireless.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NBA May Be Trying to Lure Caitlin Clark to All-Star Weekend

The 2023 All-Star weekend featured the first NBA versus WNBA three-point challenge.

DirecTV-Dish Deal Is Dead, Spelling More Trouble for Pay TV

Bondholder objections undo an agreement to create the largest U.S. pay-TV distributor.

The Big Noon Debate: Will Ohio State’s Early Games Lead to Change?

The Buckeyes will end the season with seven noon ET kickoffs.

From WWE to Washington: Linda McMahon Is Trump’s Pick for Education Secretary

McMahon was the president and CEO of WWE for nearly 30 years.
podcast thumbnail mobile
Front Office Sports Today

How Non-Football Programs Are Surviving the NIL Era

0:00

Featured Today

Can an Elite Women’s Soccer School Survive the New College Sports Moneyball?

Santa Clara faces an uphill battle in the new college sports landscape.
Nov 16, 2024; Washington, District of Columbia, USA; Washington Spirit forward Trinity Rodman (2) celebrates after defeating NJ/NY Gotham FC in a 2024 NWSL Playoffs semifinal match at Audi Field. Mandatory Credit:
November 22, 2024

The Washington Spirit’s Business Makeover Carried Them to the Finals

The team’s return to the NWSL championship looks a lot different from 2021.
Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.
November 21, 2024

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up
November 18, 2024

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.

Reader Mailbag: Why Are NBA Ratings Down to Start the Season?

NBA viewership is down 28% on ESPN through the first four weeks.
November 21, 2024

NBA Legend Hubie Brown Stepping Away From ESPN at 91

Brown has been associated with the league for over 50 years.
A photo of Around the Horn's set
November 21, 2024

‘Around the Horn’ to End 23-Year ESPN Run in 2025

ESPN had reportedly been thinking of canceling the show since the summer.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Nov 19, 2024; Boston, Massachusetts, USA; The Boston Celtics and Cleveland Cavaliers play during the second half at TD Garden.
November 20, 2024

Cavs vs. Celtics Draws Big TV Numbers in NBA Cup Showdown

The game averaged 1.94 million viewers and peaked at 2.7 million.
November 20, 2024

NFL Ratings Hold Strong Through Election Season, Chiefs Lead TV Pack

In 2016, NFL ratings fell 8% from the prior year.
November 20, 2024

Comcast’s SpinCo: New Home for USA Network, Golf Channel, Sports Rights

The move by NBC Sports’ parent company reflects how dramatically the linear television business has changed.
Nov 18, 2024; Miami, Florida, USA; Philadelphia 76ers center Joel Embiid (21) looks on against the Miami Heat during the third quarter at Kaseya Center.
November 19, 2024

Will NBA Flex Last-Place Sixers From National TV Games?

Philadelphia is 2–11, tied for last in the NBA.