![]() These numbers do not include the streaming service formerly known as DirecTV Now, which AT&T just killed off this month. Advertisementįurther Reading AT&T kills off the failed TV service formerly known as DirecTV Now The loss of nearly 3 million customers in 2020 was an improvement over 2019, when AT&T lost 3.4 million Premium TV customers in the calendar year. That's down from 17.1 million three months earlier and down from 19.5 million since the beginning of 2020.ĪT&T has strung together several years of big TV-customer losses since early 2017, when it had over 25 million users in the category. Premium TV customers flee in drovesĪT&T is down to 16.5 million customers in the Premium TV category that includes DirecTV satellite, U-verse wireline video, and the newer AT&T TV online service. "Our biggest and single most important bet is HBO Max," AT&T CEO John Stankey said. "Executives called the non-cash accounting charge a sign of the pay-TV unit's aging status as the Dallas company promotes an Internet-streaming model that gives its content-production business a direct line to viewers," The Wall Street Journal wrote today. The Q4 net loss swung AT&T to a full-year net loss of $5.4 billion. Q4 revenue was $45.7 billion, down from $46.8 billion year over year. As a result, AT&T reported a $13.9 billion net loss in the quarter, compared to a net profit of $2.4 billion a year ago. The charges were added to AT&T's Q4 expenses. including our decision to operate our video business separately from our broadband and legacy telephony operations." This operational decision "required us to identify a separate Video reporting unit and to assess both the recoverability of its long-lived assets and any assigned goodwill for impairment," AT&T said.ĪT&T said it also logged "charges of approximately $780 million from the impairment of production and other content inventory at WarnerMedia, with $520 million resulting from the continued shutdown of theaters during the pandemic and the hybrid distribution model for our 2021 film slate." ![]() AT&T said the $15.5 billion charges reflect "changes in our management strategy and our evaluation of the domestic video business. ![]() Getty Images | Ronald Martinez reader comments 90 withĪT&T lost 617,000 customers from DirecTV and its other TV businesses in the final quarter of 2020, capping a year in which it lost nearly 3 million customers in the category, AT&T reported today.ĪT&T today also informed the Securities and Exchange Commission that it has taken "noncash impairment charges of $15.5 billion" related to its ongoing DirecTV debacle.
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