The Dish Network saw a massive slip in more than 550,000 customers users leaving its two pay television products during the three-month period that ended March 31, a movement that had directly impacted the strength of the company users’ numbers on the company’s bottom line.
On Monday, Dish executives spokesperson gave a summary of its financial strength as the first financial quarter ends.
The executives say the firm (in Q1) ended 2023 with 9.2 million subscribers, including 7.1 who pay for its traditional Dish-branded satellite service and another 2.1 million who regularly subscribe to the streaming service Platform Sling TV.
A CyberAttack Lead To Decline In Users
The 552,000 loss in customers came as the firm grappled with the impacts of a massive cybersecurity breach incident that took many of its internal systems offline, including websites and apps that allowed users to pay their bills and get support attention when needed.
However, the firm didn’t specify how many users dropped its satellite and streaming services due to the cyberattack incident but the drop illustrated about 19 percent more than the 462,000 subscribers Dish lost during Q1 2022.
Notably, Like other traditional pay television services, Dish has increasingly and agreeably looked toward developing the streaming stage as the future of its television business.
Furthermore, Sling TV proposed dozens of live-streaming channels with a starting price of $40 a month in most areas or $45 a month in some markets with live access to ABC-owned stations.
Dish Network Reassures Users Through Financial Income
Monday’s results showed Sling TV lost 234,000 Users during Q1 2023, the second consecutive quarter of subscriber deterioration. Essentially, the satellite business lost 318,000 customers during Q1 2023, the company said.
Despite shedding subscribers, Dish said reassuringly its average earnings per user, or ARPU, grew slightly for the quarter to $102.71. During Q4 2022, Dish said its ARPU was $102.08.
Essentially, Net income attributable to DISH Network amounted to $223 million, down from $433 million in the 1st quarter of 2022, DISH is not alone in losing TV subscribers every major TV network briefed losses in 2023 so far.