• by Wayne Friedman , March 1, 2024

EchoStar -- now the home of Dish Network and Sling TV, two linear TV pay TV distributor businesses -- is seeing increasingly weakening subscriber results, thanks to ongoing legacy TV consumer cord-cutting.

Wall Street investors hit the company with a 7% decline in its stock price on early-day trading to land at $12.26.

Year-to-date, the company is down 22%, and off 39% over the past twelve months.

Pay TV subscribers at the company continue to abandon the businesses -- shedding 314,000 net pay TV subscribers in the fourth quarter versus 268,000 in the year-ago period, for a 4% decline.

Sling TV has dropped 60,000 subscribers, with Dish Network losing 254,000. 

Total pay subscribers now total 8.5 million -- 6.47 million for Dish, 2.06 million for Sling TV.

Pay TV revenue dropped 9% to $2.8 billion, with overall company wide revenue sinking 8% to $4.16 billion.The company trimmed its net loss attributable to $1.7 billion, down from $2.5 billion in the year ago period.

Its retail mobile wireless revenue sank 3% to $898.2 million. Its broadband business was 10% lower to $449.8 million.