Well here’s something you probably wouldn’t expect to hear. Dish Network saw a pretty big “churn rate” this past quarter, meaning the number of people who canceled their Dish Network subscriptions in any given month was higher than it has been in a long time.
Surprisingly, this is being attributed to the sub-prime lending crisis, and I guess this does make sense. After all, with people moving or losing their homes and a near-record pace, it stands to reason that people aren’t going to keep paying for a satellite TV subscription they don’t use. Here’s a quote from EchoStar CEO Charles Ergen:
“If you go down some subdivisions in America today, every other house has a for sale sign, and that particular house may have a dish on the roof or may have cable running into the house, and there is nobody living there,” Ergen told analysts. “You have that kind of backdrop where it is much more competitive environment because of the economy.”
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