Dish Lost 10,000 Subscribers in Q2

Hopper DVR likely catalyst
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Dish Network shed 10,000 net new customers in
the second quarter, far below some analysts' expectations and a substantial
improvement over the 135,000
customers it lost in the same period last year
.

Dish, which is expected to release second quarter results
next month, made that revelation in a Securities
and Exchange Commission filing Thursday
announcing its intention to issue
debt.

Churn for the period was about 1.6% and gross new customer
additions were 665,000, up from the 572,000 gross additions in the second
quarter of 2011. Credit Suisse media analyst Stefan Anninger had expected Dish
to lose 99,000 net new subscribers in the quarter (analysts' consensus
estimates was for a loss of about 85,000). In a research note, Anninger said
heavy marketing around its multi-room DVR The Hopper likely drove the better
than expected performance.

"It is far too early to call the Hopper a success, but
we are pleased by the 2Q gross adds result, especially since our initial
channel checks had not suggested a strong consumer response to the Hopper, or
strong gross adds for 2Q," Anninger wrote in a research note.

The results don't include the impact from Dish's decision to
drop
AMC Networks cable channels
, which the satellite giant dropped on July 1.

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