Blockbuster vid service helps satcaster boost profits 24%
Dish Network, the nation’s No. 2 satellite provider, said its new Blockbuster video service helped add 22,000 subscribers last quarter, boosting profits by 24%.Dish ended the year with 13.97 million subs. It had lost 111,000 net subscribers in the third quarter. Profit attributable to Dish rose to $313 million from $252 million. Revenue jumped 13% to $3.63 billion. “By introducing new Blockbuster-branded services, we’ve begun to turn the tide in subscriber losses while continuing to face increased competitive pressures,” CEO Joe Clayton said. Dish acquired the bankrupt video-rental chain Blockbuster last year and launched a streaming service in October. Other operators are also experimenting with new services. Comcast unveiled a product called Streampix service earlier this week. Dish’s results, along with upbeat subscribers numbers from Comcast and other traditional service providers, indicate that new streaming services like those offered by Netflix or Hulu may not be taking as big a bite as feared out of the existing customer base — at least not yet.
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