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Q2-16: DISH Network reports 27% profit hike, loses 281K pay-TV subscribers
Tuesday 26-July-2016, 13:55,
Q2-16: DISH Network reports 27% profit hike, loses 281K pay-TV subscribers
Q2-16: DISH Network reports 27% profit hike, loses 281K pay-TV subscribers

BENGALURU: DISH Network Corp. (DISH) reported 26.52 percent increase in its net profit for the quarter ended 30 June 2016 (Q2-16, current quarter) at $ 410.46 million as compared to $ 324.42 million in the corresponding year ago quarter. Despite activating approximately 527,000 gross new pay-TV subscribers, net pay-TV subscribers declined approximately 281,000 in Q2-16. Comparatively, in Q2-15 approximately 638,000 gross new pay-TV subscribers were added with a net loss of approximately 81,000 pay-TV subscribers.

DISH reported almost flat revenue (grew by 0.12 percent) in the current quarter of $ 3,837.04 million as compared to revenue of $ 3,832.29 million in Q2-15. Subscriber related revenue in Q2-16 grew 0.7 percent to $3,826.22 million as compared to $3,801.42 million in Q2-15.

EBIDTA in Q2-16 declined slightly (2.7 percent) to $ 899.54 million from $ 924.45 million in the corresponding year ago quarter.

Subscribers, ARPU, SAC

The company closed Q2-16 with 13.593 million pay-TV subscribers, compared to 13.932 million pay-TV subscribers at the end Q2-2015.

DISH lost approximately 15,000 net broadband subscribers in the second quarter, bringing its broadband subscriber base to approximately 613,000.

Pay-TV ARPU for Q2-16 totalled $89.98, compared to Q2-2015 pay-TV ARPU of $ 87.91. Pay-TV subscriber churn rate in the current quarter was higher at 1.96 percent versus 1.71 percent for Q2-2015.

Pay-TV subscriber acquisition cost (SAC) in Q2-16 was $353.08 million as compared to $ 405.70 million in Q2-15.  Pay-TV SAC was $782 per subscriber during Q2-16 compared to $767 during Q2-15 an increase of $15 or 1.9 percent.  

DISH says that this change was primarily attributable to an increase in advertising costs per activation, partially offset by a decrease in hardware costs per activation. The decrease in hardware costs per activation was primarily due to a higher percentage of remanufactured receivers being activated on new DISH branded pay-TV subscriber accounts and by a reduction in manufacturing costs related to certain receiver systems. This decrease was partially offset by an increase in the percentage of new DISH branded pay-TV subscriber activations with Hopper 3 receiver systems, which have a higher cost per unit than the prior generation Hopper receiver systems.

Notes

It may be noted that DISH includes all of its Sling TV subscribers in the company's total pay-TV metrics, including in the pay-TV subscriber, pay-TV ARPU and pay-TV churn rate numbers set forth below. Sling TV subscribers are reported net of disconnects in DISH’s gross new pay-TV subscriber activations. The Sling branded pay-TV services consist of, among other things, live, linear streaming over-the-top (OTT) internet-based domestic, international and Latino video programming services.

DISH markets broadband services under the dishNET brand in the United States.  In addition to the dishNET branded satellite broadband service, DISH also offers wireline voice and broadband services under the dishNET brand as a competitive local exchange carrier primarily to consumers living in a 14-state region in the western United States.  It primarily bundles dishNET branded services with its DISH branded pay-TV service.

During Q1-2016 DISH made its next generation Hopper, the Hopper 3, availableto customers nationwide.  Among other things, the Hopper 3 features 16 tuners, delivers an enhanced 4K Ultra HD experience, and supports up to seven TVs simultaneously says the company.

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