DISH Network reports fourth quarter, year-end 2021 financial results

[Scott Greczkowski]

DISH Network reports fourth quarter, year-end 2021 financial results​

February 24, 2022
ENGLEWOOD, Colo., Feb. 24, 2022 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.45 billion for the quarter ending December 31, 2021, compared to $4.56 billion for the corresponding period in 2020.

Net income attributable to DISH Network totaled $552 million for the fourth quarter 2021, compared to $733 million from the year-ago quarter. Diluted earnings per share were $0.87 for the fourth quarter, compared to $1.24 per share during the same period in 2020.

Pay-TV
Net pay-TV subscribers decreased approximately 273,000 in the fourth quarter, compared to a decrease of approximately 133,000 in the year-ago quarter.
The company closed the quarter with 10.71 million pay-TV subscribers, including 8.22 million DISH TV subscribers and 2.49 million SLING TV subscribers.

Wireless
Retail wireless net subscribers decreased by approximately 245,000 in the fourth quarter, compared to a net decrease of 363,000 in the year-ago quarter.
The company closed the quarter with 8.55 million retail wireless subscribers.

Full-Year 2021 Review
For the year, DISH reported 2021 total revenue of $17.88 billion, compared to $15.49 billion in 2020.
Net income attributable to DISH Network in 2021 was $2.41 billion, compared to $1.76 billion in 2020. Diluted earnings per share were $3.79 in 2021, compared to $3.02 in 2020.
For additional detail on quarterly metrics, please refer to the attached table.
Detailed financial data and other information are available in DISH Network's Form 10-K for the year ending December 31, 2021, filed today with the Securities and Exchange Commission. DISH Network will host its fourth quarter and year-end 2021 financial results conference call today at noon ET.
Participant conference numbers: (800) 289-0720 (U.S.) and (323) 701-0160; Conference ID: 9002646.
A live webcast will be available on DISH's Investor Relations website at http://ir.dish.com during the call. A webcast replay will also be available for 48 hours after the call.

 

[Bruce]

Pay-TV
Net pay-TV subscribers decreased approximately 273,000 in the fourth quarter, compared to a decrease of approximately 133,000 in the year-ago quarter.
The company closed the quarter with 10.71 million pay-TV subscribers, including 8.22 million DISH TV subscribers and 2.49 million SLING TV subscribers.

from the previous quarter-

The company closed the quarter with 10.98 million Pay-TV subscribers, including 8.42 million DISH TV subscribers and 2.56 million SLING TV subscribers.

So basically a loss of roughly 200,000 sat subs and the rest from Sling, more then Charter’s Video loses (-71,000) but less then Comcast (-373,000).

If DirecTV still reported numbers, I have a hunch they are dropping a lot more then Dish based on their old equipment and super high prices, that 2nd year promo is a shocker, unlike Dish who keeps it the same for the first 2 years.

Edit-

Last report made public, 2nd quarter, 2021, DirecTV had -473,000 Sat. Subs lost, in 2017 D* had 21 million, end of 2020 they had 13 million Sat. Subscriber, based on losses in the first quarter 2021 ( -620,000) and 2nd, estimated 3rd and 4th, say 1 million total, that means DirecTV, roughly, only has 11-12 million Sat. subscribers, down from 22 million in 2017.

At this rate, If Dish is going to buy them, they should hold out a couple of years, by then, they should be able to pick it up for $5.00 and a 6 Pack of Pabst Blue Ribbon

 

[zippyfrog]

So basically a loss of roughly 200,000 sat subs and the rest from Sling, more then Charter’s Video loses (-71,000) but less then Comcast (-373,000).

Lost 200,000 subs but total revenue jumped by ~$2.4 billion. Hard to compare the pandemic year, but that seems to be a big revenue jump.

 

[Bruce]

Lost 200,000 subs but total revenue jumped by ~$2.4 billion. Hard to compare the pandemic year, but that seems to be a big revenue jump.

They had two price increases in 2021, that helped with revenue, plus they no longer have to pay to carry the RSNs, they dropped them without lowering the monthly costs, if Dish was paying, estimate, say $5 per sub for the channel(s), that is $40 million a month, $480 million a year.

 

[chuckster_dude]

​

For the year, DISH reported 2021 total revenue of $17.88 billion, compared to $15.49 billion in 2020.
Net income attributable to DISH Network in 2021 was $2.41 billion, compared to $1.76 billion in 2020. Diluted earnings per share were $3.79 in 2021, compared to $3.02 in 2020.

Not many businesses can lose customers AND increase revenue at the same time.

 

[mdonnelly]

Not many businesses can lose customers AND increase revenue at the same time.

A couple more years like that and Dish will have NO customers and billions in revenue!

 

[OneFore9]

2021 revenue up most likely due to Boost Mobile, which wasn't part of Dish until later in 2020.

 

[Bruce]

Charlie make some comments on today’s report, these two have the most to do with Sat.TV-

Ergen reiterated his view that a merger between DIsh and DirecTV — which is now a stand-alone entity owned by AT&T and private equity firm TPG — is “inevitable.” If a combination is not allowed by regulators, he said, “both companies will just melt away and customers will be left without service.”

This one I believe he should of not said anything-

As far as dealings with programmers overall, he said costs are going “down, not up” because of ongoing declines in ratings amid an industry reorientation toward streaming. Ergen cautioned that pay-TV operators should be mindful of keeping a lid on prices given the uncertain environment. The traditional bundle will “die a death on its own if people try to overcharge for their product … We’ve seen that from operators who didn’t sense where things were going and at some point they self-destruct.”

So Dish’s costs are going down, yet 2 price increases last year and profits way up.

More comments at the link about 5G

Dish Network Hits Q4 Targets, But Chairman Charlie Egen Concedes Wireless Transition Has “Taken Longer Than We Thought”

Dish Network, which is transitioning from satellite pay-TV operator to wireless provider, matched Wall Street's fourth-quarter forecasts.

deadline.com

 

[Tvland1]

So Dish’s costs are going down, yet 2 price increases last year and profits way

In other words showing people he knows how to make profit off loyalty customers...The pied piper ...I jumped ship with the last price increases

 

[NYDutch]

Charlie make some comments on today’s report, these two have the most to do with Sat.TV-

Ergen reiterated his view that a merger between DIsh and DirecTV — which is now a stand-alone entity owned by AT&T and private equity firm TPG — is “inevitable.” If a combination is not allowed by regulators, he said, “both companies will just melt away and customers will be left without service.”

This one I believe he should of not said anything-

As far as dealings with programmers overall, he said costs are going “down, not up” because of ongoing declines in ratings amid an industry reorientation toward streaming. Ergen cautioned that pay-TV operators should be mindful of keeping a lid on prices given the uncertain environment. The traditional bundle will “die a death on its own if people try to overcharge for their product … We’ve seen that from operators who didn’t sense where things were going and at some point they self-destruct.”

So Dish’s costs are going down, yet 2 price increases last year and profits way up.

More comments at the link about 5G

Dish Network Hits Q4 Targets, But Chairman Charlie Egen Concedes Wireless Transition Has “Taken Longer Than We Thought”

Dish Network, which is transitioning from satellite pay-TV operator to wireless provider, matched Wall Street's fourth-quarter forecasts.

deadline.com

My read of the full article suggests that Charlie is talking abut the programmers costs going down, not Dish's, and programmers need to "keep a lid on prices..."

 

[cosmo_kramer]

So Dish’s costs are going down, yet 2 price increases last year and profits way up.

Seems to be a common occurrence among many corporations lately: Reporting record profits while continuing to raise prices....

 

[Tampa8]

They had two price increases in 2021, that helped with revenue, plus they no longer have to pay to carry the RSNs, they dropped them without lowering the monthly costs, if Dish was paying, estimate, say $5 per sub for the channel(s), that is $40 million a month, $480 million a year.

I don't discard that however DISH has been on a campaign for a few years of trying to keep people who pay, and not making big discounts to those that don't pay or never on time. So DISH is being left with those who apparently really want the service like myself. I can't go to either Cable company here or Direct TV and get what I do for the price I am paying.

I think the $5(?) RSN savings to DISH IS reflected in some people's bill if they have stayed with DISH. I have not had an increase in years. Twice now after my two year current customer agreement was up they renewed it at no increase. The last time when I called (I posted this) I was shocked when they answered and immediately asked if I was calling to keep my Current Customer discount. I said yes and that was it - no increase for two more years again.

 

[Bruce]

My read of the full article suggests that Charlie is talking abut the programmers costs going down, not Dish's, and programmers need to "keep a lid on prices..."

Why would programmers costs go down because of ratings, it was obvious he was talking about his fees which are affected by ratings ( how many watch that channel), his words-“because of ongoing declines in ratings amid an industry reorientation toward streaming”.

 

[NYDutch]

Why would programmers costs go down because of ratings, it was obvious he was talking about his fees which are affected by ratings ( how many watch that channel), his words-“because of ongoing declines in ratings amid an industry reorientation toward streaming”.

As I recall, most retrans agreements are based on a per subscriber fee, not a per watcher fee.

 

[Bruce]

As I recall, most retrans agreements are based on a per subscriber fee, not a per watcher fee.

True, and Charlie can turn that around and say hey, this channel is not as popular as it used to be, need to lower the cost.

And again, production costs do not do down because of ratings, they just get cancelled.

And you never answer my question-Why would programmers costs go down because of ratings?

 

[TheKrell]

And you never answer my question-Why would programmers costs go down because of ratings?

NYDutch can speak for himself, but I'll take a swing at that one myself. I think it's because the swine cancel great shows that cost them a fortune and substitute cheap reality TV shows instead. Naked and Afraid? Who's "great" idea was that?

 

[lparsons21]

NYDutch can speak for himself, but I'll take a swing at that one myself. I think it's because the swine cancel great shows that cost them a fortune and substitute cheap reality TV shows instead. Naked and Afraid? Who's "great" idea was that?

Couple that with the plethora of reruns they all seem to want to show and it is easy to see how their ‘production’ costs go down.

 

[NYDutch]

True, and Charlie can turn that around and say hey, this channel is not as popular as it used to be, need to lower the cost.

And again, production costs do not do down because of ratings, they just get cancelled.

And you never answer my question-Why would programmers costs go down because of ratings?

I think The Krell and Lloyd made some good points. I'm sure Charlie's negotiators use falling ratings as a negotiating point, but it seems the OTA owners like Tegna are not buying it. They seem to think demanding a 300% fee increase makes sense because they're losing money as their ratings and viewership go down. That's when Charlie says, "No". The programmers production costs can go down when the ratings tank because they have to find cheaper ways to produce programs as the ad revenue declines.

 

[MikeD-C05]

If I was running DISH I would first reduce the DVR fee to $5.00 on Hopper 3 if you own it, $10.00 if you lease it. Commercial skip would be only $5.00 a month and you have the option of not using it and saving the extra $5.00. I would also price the additional receivers at $5.00, but if you own the receivers you would pay nothing extra. I have never understood why they charge for additional receivers if you own them anyway. This would of gone a long way to retaining a lot of subs who have invested money buying their own receivers. It would also put them in the lower priced sat/cable companies.

A lot of fees that they charge are no longer needed and just add to their bottom line. Especially if you are trying to keep people from leaving or cutting the cord. With Sling tv it is only $5.00 for the cloud dvr feature. With some like You tube tv it cost nothing for cloud dvr and it lets you keep recordings for 9 months. With those companies you can stream at least 3 things at a time at no additional cost, (Sling tv is 3 streams for blue pack and only 1 stream for Orange pack) for watching in other rooms, or on phones or I pads, etc.

 

[dweber]

What happens on YouTube TV if you want to keep programs longer than 9 months?


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