Dish Network Corp. (NASDAQ:DISH) Q3 2019 Earnings Conference Call Transcript

Nov 07, 2019 • 12:00 pm ET

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Dish Network Corp. (NASDAQ:DISH) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, and welcome to the DISH Network Corporation Q3 2019 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Jason Kiser. Please go ahead.

Executive
Jason Kiser

Thank you. And thanks for joining us, everybody. Joined today by Charlie Ergen, our Chairman; Tom Cullen, EVP of Corporate Development; Erik Carlson, CEO for DISH Network; Brian Neylon, the President of DISH; Warren Schlichting, the President of Sling; Paul Orban, our CFO; and Tim Messner, our General Counsel. Erik and Paul have some opening remarks, but we turn it over to Tim for our Safe Harbor disclosure first.

Executive
Timothy A. Messner

All right. Thanks, Jason. And good morning, everyone. Thanks for joining us.

Any forward-looking statements that we make during this call are subject to risks, uncertainties and other factors that could cause our actual results to differ materially from historical results and/or from our forecasts. All cautionary statements that we make during this call should be understood as being applicable to any forward-looking statements we make wherever they appear. You should carefully consider the risks, uncertainties and other factors discussed in our SEC filings and should not place undue reliance on forward-looking statements, which we assume no responsibility for updating.

As part of the process for FCC Auction 103, we filed an application to potentially participate as a bidder for those Spectrum assets. Because of the FCC's anti-collision rules, we're not able to discuss what if any spectrum resources we may intend to bid on and we will not be answering any questions on the auction on today's call.

This morning, we announced that our Board approved proposed rights offering to raise proceeds of approximately $1 billion. Until the prospectus supplement filed in connection with that rights offering, we're not able to discuss any additional details and we will not be able to answer any questions on that offering on today's call.

With that, I'd like to turn it over to our CEO, Erik Carlson.

Executive
Erik Carlson

Thank you, Tim, and welcome, everyone. We have a lot going on operationally across the industry and of course in wireless. I'd like to first congratulate our team here for a solid quarter. It's the first period since the fourth of '17 that we've been able to announce total Pay-TV net sub growth. And I'm pleased to report that our disciplined pursuit of our service, technology and value to strategy continues to pay off. We're finding the right customers in the right geographies and giving them lots of reasons to buy DISH and stay with DISH.

We ended the third quarter with a 148,000 total Pay-TV net additions. Now I recognize that we lost 66,000 net subs on DISH TV, but this is notable progress. And I'm pleased that we're clearly bottling the industry trends. Now, we've realized year-over-year growth in our DISH TV gross additions 416,000 subscribers chose DISH in the third quarter compared to a year ago with 294,000 growth addition. The trend's not accidental. Obviously, there are both