DISH Network (DISH) 3 Aug 222022 Q2 Earnings call transcript

Company Profile

Participants

Tim Messner	Executive Vice President & General Counsel
Charlie Ergen	Chairman
Erik Carlson	Chief Executive Officer
Paul Orban	Chief Financial Officer
Dave Mayo	Executive Vice President-Network Development
Stephen Stokols	Executive Vice President-Boost Mobile
John Swieringa	President and Chief Operating Officer-Wireless
Phil Cusick	JPMorgan
John Hodulik	UBS
Doug Mitchelson	Credit Suisse
David Barden	Bank of America
Jonathan Chaplin	New Street
Walter Piecyk	LightShed
Ric Prentiss	Raymond James
Craig Moffett	MoffettNathanson
Michael Rollins	Citi
Mike Dano	Light Reading
Scott Moritz	Bloomberg
Andrew Fitzgerald	WSJ

Call transcript

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Operator

Good day and welcome to the DISH Network Corporation's Q2 2022 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Tim Messner. Please go ahead.

Tim Messner

All right. Christina. Thanks, and us. everyone for thanks morning joining Good Dave We're Ergen, CEO; our the EVP call of Corporate Paul Stephen and Network by and Charlie this morning COO Development; of Chairman; EVP Swieringa, our Boost Tom joined EVP Stokols, CFO; of Development; on Orban, Cullen, Mayo, John Erik President Mobile; Carlson, our Wireless. of

our safe harbors. start, we Before

actual may to that assume call, forward-looking we our make to our risks, could and this which from subject forward-looking statements. from During are no materially factors uncertainties other cause or updating historical results differ statements responsibility results for We forecast.

won't more filings. bidder Auction XXX For results, SEC to and have We We any to future you. filed straight go anti-collusion affect this we on because that of remarks an in with start today. opening SEC be discuss the call during don't potentially that we're on analyst. a information SEC's the not it application able questions. let's may as answering our Thank please Christina, refer we'll rules to the to factors so participate auction questions morning,

Operator

will now Instructions] will Phil from our the take analyst We from community. Cusick first [Operator question JPMorgan. questions take with we And

Phil Cusick

can guys. I wonder about, Hi, thanks requirements. if talk funding you Charlie,

talk overview quarter environment talk just And back an from the You have of – Can some you T-Mobile March on about in about us is overall. in Can little the the wireless in the contract? others and bit that? in a on CapEx quarter you maturity well ramping. XXXX while first competitive the then first still your a as give credit

Erik Carlson

you? Would

Charlie Ergen

third it? hear question. repeat please Did you the didn't I

Erik Carlson

Could that we third it? you Phil, No, get repeat didn't question.

Charlie Ergen

answer We'll All the right. to

Phil Cusick

environment. Competitive

Charlie Ergen

will second take Well, yes, Paul part – I'll then part. the the first and and take

raise obviously, we've need we last capital. disclosed couple the that to quarters will So,

of next of billion year. and due debt $X.X have We come in March

they're to that while for spot And to that. today we choppy over we'd continue years for have obviously and us markets we believe than So more that right monitor the a ours. as focus right the We'll expensive for strategy are obviously the that's the available today. like

On the accounting Paul? question,

Paul Orban

good Yes, effective did the book deal into from deal T-Mobile new QX there. The the impacts sure. QX. A X/XXXX. We question was

see you little of about that. months a So five over

If have rate, at of give you will disclosed numbers the of in the the you what though impact that CDMA QX the look for months that mind a a sense the like. negative look six run are that's may keep – months migration do Q costs in that six Do in it.

Phil Cusick

quantify that Paul, help can look might for to us… what it just like you all going forward us number

Paul Orban

that. Well, we don't disclose

Charlie Ergen

Oh, disclose… we don't

Erik Carlson

We that. don't disclose

Charlie Ergen

six at Okay. the run rate… But if month you look

Phil Cusick

If I can…

Charlie Ergen

what Yes, didn't quite question? third the was hear it. I

Phil Cusick

your… how that to environment up think in business long for to you trying the postpaid be on then about I wireless, handsets evolving update business that's October ramp into? sorry. prepaid the – in a about you're in time And the any just competitive are the I'm whether to think coming you've supposed been or

Charlie Ergen

Okay.

focuses competitive kind prepaid The a interesting. business The our is environment margin the one churn. Thanks. higher of Okay. low of with is is certainly business

in deal expensive be industry the scratched the and a place mean, is the many the in And credit. world is – think less that prepaid as analyst, people postpaid. actually that. a think is that industry, inflation where place actually we're look always bit more the good. than financial a a analyst the – will that connections people We're how competitive which look I The as – seen about somebody I of start somebody and excited I could probably your the than a phones my only picture people with and environment big country necessity. better necessity probably a that's it profitable head wireless at financial and that times little As thinking raising we've former prices, bit bit credit a about the than without that's little is gives

and So it's line. shelter, it's about after just food in and water next

So fourth – that biggest and it's the the have player we're we're room there a the and ones grow. to

like we So of business. part the that

really to many of get to to we've get done them we Now actually lot already. that have things do in got – of And spot. that we accomplished terms the to a needed but on our things we've a a side have good there, quarter we that we to

this, detail start for quarter of more answer and correctly Band we our this more devices about get has third unique show of in we haven't those but more those those purpose which up devices to there. every to quarter every And – – devices. us be and point problems had help One to competitive talk out could the as devices, in XX which is with that in John been our you devices DISH

Phil Cusick

Charlie. Thanks,

Operator

we'll take question Hodulik UBS. next And from John our with

John Hodulik

thanks. Great,

the signed your that one. And color Infinite standpoint just guys launch number from agreement about standpoint? Could you on the a the either Thanks. in in with Boost a can this to MVNO network talk side strategy later You that T-Mobile give existing you so guys us go the then the had or fall. And and of with change you other a how that that's market on with And any pricing quarter. postpaid sort you how – AT&T? agreement new may of contrast

Erik Carlson

I'll about second talk let Stephen question. the

with had an The first relationship look at let's question is picture. first big the T-Mobile. We unhealthy

consent under which For them from for them very work well. doesn't justice department, they're decree

both end was of think, in which obviously did had shutoff, for position pretty last and Dish that. take big the good warn But of effect and controversy so, through unsuccessful CDMA And was Regulators market we the we a news, very people we for companies of bigger that certainly did about best end I a negative were quarter, quarter, than to negative appreciated. And try not a fairly and much California. our other lessen than the was that property that to this – the that.

But we're able were with So our through T-Mobile. that was now. And relationship that we to solidify disappointing.

As in the are United to reality claimed XG call people in has they T-Mobile. more is best this the the of than AT&T that States. have network But universally know, coverage does

that partners use funny we So to both economics the different to have of in a different and sort both worlds the of of our way, contracts different ways our in cases. best have arbitrage partners, ways of sets in both some in MVNO

is AT&T to – we the customer then a And in have little when first going put place network, but on our there our may a have so, them are be roaming, T-Mobile where on Or might the of we're customer, says, let's depending put machine based we this for to there want perhaps learning we bit – them. are going customers and them. that's this place right put is roaming the that on to as person or be

the really but is So, it's up T-Mobile. broad is consistent a disclose and network with network there in strategically that's and XG, a good But interesting not anymore, we good technically contracts. enough Street. network, And by coming position the an we're Obviously factor coverage with understood coverage. not network in our has and elite that really coming which coming a in and a company economics can't owner

I'll Boost we're So a Stephen here. With position the to question. over on turn that, to succeed Infinite it in I think

Stephen Stokols

to opportunity it's slightly aggressive not it's aggressive own is Obviously expansion more big into much do in the different we're platform. to focus, So, a exciting. postpaid in But and in Two what points us. today, in about for this mean, things Infinite, we're come on going specifically and come a will out I more proposition talk it later on I fresh too doing more way side And two year. our it's will highlight. way. a the

vesicle as doing unlike our into tied Boost, the digital platform limited to is we've So now launch platform our we since to on waist far capabilities, nimble, a flexible own competitiveness our centric are that aggressive, been and platform angle what translates well. own was around allows with T-Mobile we're more with operating to

the Boost to well. network economics also Infinite be big us some There of coming to a that is alluded on So be And as Charlie later internally. allow that the year. will more competitive in focus out then

Charlie Ergen

the but you postpaid, want Higher highlight ARPUs, in versus economics. you I just to on bigger churn X% prepaid. economics. of talking X% the mean, is, guys postpaid about always I And are correctly put it's different value terms in churn materially a

of economics to red be part a scoring zone to we field are the touchdowns. you able once when been of comes And it you going some kick I start haven't lucky think in touchdowns In while. if a we're in field prepaid, score So to goal play to to the able that.

John Hodulik

Charlie. Thanks it. Got

Operator

And we’ll question Credit from go Mitchelson our to with Doug next Suisse.

Doug Mitchelson

is questions. a is got I've just is and one a I'll ask I going? Charlie? brief much. him so mean, build working Dave, at the the Charlie well network And how Thanks network how hopefully few, time.

Dave Mayo

and is June for We're we're milestone So about on a and a and into the pace balance the a on month, XXXX. on towards the X,XXX XX. XX% that And deployed on air, really doubt saw the we're sites we'll sites of of build completed for well. next on our milestone X,XXX I that rate year. we going of at and the no marching middle year about continue

pretty happy data experience. with quality, of we're In terms I the think,

we do And to and with to the deals fully a volunteer and working, ago VoLTE that don't capability is to operate we the to now, and to I as that, reflect launch really standalone service. a unique got MVNO have think as respect. some industry. We've to even have point. fallback. VoLTE, support get have a you that back for working have our VoNR continued VoLTE you it's work we'll but until And so well and the we the, I that that will carriers use experience, well. of it on network circuit-switch time a And customers. optimized, not rest we that in us get the the been VoNR had could we've when will close to available took does decade it We're standalone launches,

Charlie Ergen

Yes. some I'll just said. what add Dave to color

for XX,XXX milestone is towers. year next our So,

way way thirds the of on of So, there, we're we're that. by year, do to a we’ll the end third be cadence a of the there, the two

going better cadence along farthest a economies sense of on in decide We voice, people not have markets we're it that this bunch the had a systems of can we good like of scale two legacy the have in unexpected a in you in to that year. it. beginning VoNR decision experience a in has voice. in we lot T-Mobile a or has that been in and to get my enough have have actually opinion that that negative is to just the put But expected markets in go forever, strategic that. voice You of industry whether today, on live we're with taken voice, the that many do better customer that the obviously with when Dish T-Mobile there their to with longer, by over to you the XXX for are VoNR,

is unless ability And they hampering users. are users data so network, our a put on it to

we So, while voice, to that And little we're bit And it's a lot extra make steps some to go we're doing more And work. of clunky. looking we through forward a a network. data-centric that. have

O-RAN while positive true as was our a threefer helping the for with Samsung of the real vendor a us are side, VoNR, positive side, of kind in quarter the addition On with us. vendors

of First they a us supply of second radio. gave all,

So Fujitsu. single source to weren't we

have they a is, manufacturer. device large devices. are Second They

are do have, with helps work. we us you the which XX VoNR And and Band two get probably negatives to how attuned VoNR how you and and to attuned they very get bands the so that is very biggest do

our So work of taken Mavenir. those parts better business. on are are leader to than some just particular those And off the those doing issues real of got system we a are, at – technology solidify great it guys you've They're integration with that's our along companies shoulders. those

Street. huge us that that a probably by So was appreciated positive not The for

Doug Mitchelson

the there's think in already for that's I the phone XX, Band form at manufacturers. some factor Analyst Band additional input at that same antenna no XX the on could bands And discussion for Day, that cost add adjacent phones

the lead effectively or effectively, talked would very short most relatively Samsung cost a about set with that think Band John, helping of in XX you to to in. you that Is phones because more availability Band way going order, for doesn't to XX? Is broad So to Charlie put about, it DISH. right handset in be

John Swieringa

said, to quarterly Dave We'll a last as some those up are of on certainly so we'd where a important, each broad fourth in in Charlie our start Band start distributing Band We'll on we John, is them get that key we get network the But exist Band about markets. VoNR devices devices on say tuned, up. There gotten It’s to receiving that with track running across mean, XX we're the quite market. I our Band today XX in all The broadly XX devices this QX. the call. the plus certification mentioned and VoNR right. is little with we devices focus manufacturers. of markets range talked quarter software I'd XX VoNR having VoNR haven't bit into is loading as open yet.

Android lineup right. bringing need And later really we'll devices be starting year. expanded with and this those we of both an here those So to things, get

Charlie Ergen

want extent the to cost say I it's a for I is that's On speak but the don't there manufacturers, side immaterial. the handset would cost

John Swieringa

immaterial. Charlie, correct, That's

Doug Mitchelson

financing further market sort of sources All headwinds those and form. lot to curious the worried years just few some comments if does to maturity continue just have there half capital needs first prepaid then ability things this think you're of running is build any the And capital the roll XG dishes just in to of working one in Charlie, year and that Certainly related a And or next Thanks. Thanks. and to way I most options is is, out lastly the of was about I'm and of finance on right. that you the in is over. finance. of the

Erik Carlson

Why don't take the… you

Charlie Ergen

Yes.

year. have it did relates year. headwinds the in the some As out half of should level working capital, the the in we to half first Those second of

the does a have had as you build, of of but to payments, hopefully drag, that drag it's saw cause of the with, it the timing XG half the So first The in won't costly. obviously do year. much the

Erik Carlson

to then of color going choppy. what I’m I the lot to I And financing have a the said. general, on add are you guess give stuff, I mean, don't I to markets

at lot with and so not plan. are, in – you plan. certainly marketplace, you good they I Having raise there's that, we think they're great business year said the of level have the capital can So And liquidity markets ago. same the were a a a can a business raise

and need we think that. are obviously And we be think terms could variety And where like in a else raising our things to go of have it's advisors internally. So in I heavily anything it'll of and do that capital. we I our going to involved board think I – obvious

have quarter, did few about of to to people. gets customer, think it our to to just marketing I you what And shut off. able But think people made strong a phone, with go I a accomplished they a we through their customers. very in were We build could close that to We unhealthy companies the think at quarter build talk about as around, COVID many did different the people service? it we got about lose to. money A the before the relationship. becoming we and backdrop is we market the now plus. in the moves more out done phones the relationship as of the – now to in I when last that's phone's go new we there. than our milestone go healthy a And it's and didn't huge come look were probably and that T-Mobile make. people be case. upgrades terms historically ever the and money chain us on convert could was an options negative supply how jammed mean, And We CDMA and and had our why was they going shutoff got to CDMA, with behind their We not marketing have

on biggest which weakness, So big difference. side probably Samsung. the our a And it with side. then we on supply the was strengthen makes technology And

raising. for are because then, those we And big really things know So us. we're

focused So really what at things next the We're them. of and if accomplishing half focusing we you good look are on? year, the at on

you'll we raise we there there's that's And and that raise be I'd need that to obviously say. that So what it guess ability do that. don't we have an overhang, confidence many about is to read do capital. I And we when capital, realize out in to this realize our

in much lot we us. we're customers for aware going There's we aren't That's more postpaid. we're proper a avenues certainly expand can available in significantly postpaid So of that a compete us to that. postpaid. more in There think prepaid. in are business that Obviously to

We team years make We're billing improve on go going have the another half and build digital in position that. then focused And own a along. we're to second we marketing out and our that as deploy his milestone. finally Dave are network platform.

have by all but don't the done guys visibility You we’re go change through – T-Mobile. to department we something. have to this, to And of but that’s today

Department of and have Justice We months through and go change It the and we takes to something. months. months

to you If hours. change can takes the can’t competitive be program own environment. months want consumer, it and you we in With in change our platform, that for

making current get as work, just – get obviously work we just want supply a to that. a sure on. I than certainly which we a We raising So in well I LTE not headwinds devices. we’re some – that bigger and us things put got our have there with vendors devices don’t that. there’s other just have and made it lower capital, helping just still have But voice, technically better of it’s lot Bonner so as to discount are cost out Bonner and Bonner as going two and And works making category,

a we’re time, don’t Bonner make half we we’re can those we the confident know And – of the work. have things year. to second make And work, going know know devices exact we date so but we that all I in have we we’re the

So we that’s really can raise kind that’s a a business behind pretty think a capital good all, I plan of good where good business, we pretty off are. is not And of. then

Tim Messner

Next operator? question,

Operator

David Yes. We’ll America. take our next Bank with Barden question from of

David Barden

taking a risk so you XXXX at another questions. of has question, March Charlie, the thanks paper antagonizing guys, financing the much Hey X% coupon. for with the

years to If want for DISH. coupon out, right it refinance five it’s you now XX%

up is make to retail a two strengths got which bit little is a you I clear ask Analyst the executed second if at I then Vegas the decks So held kind on Could of on the market. what away network? or One plan hoping be can could Thanks. And singles XXXX thinking would us Day, date your deployed? what’s about business get the to sure you’ve got and to at subscribers? funded forward in simply down that. How tell is you the take as based can kind chip of were What’s we it, the is strategy? try to at happened of XXXX, the question, What Vegas? was How you and options. you’ve to we we wondering continue hitting uptime? of build XXXX, maybe rate the What’s market your the many we to when kind that look share least if flagship on improves. fast the

Charlie Ergen

what company it’s don’t XX%, today’s when other options wouldn’t never more be little competent markets and more market. than – management at runs. that, X%. capital be home you’re raise probably we depends – looking the different comes right to Having or a it choice hitting There’s we’re paper, as No – that, that it doubles, the right? it. to Obviously, different. singles, to given as Again, it capital whether I this besides Okay. – I bit to unsecured be expect the going for said I a bit that’s opportunities making the on – expect wouldn’t financing long-term. I it’s raise expensive so obviously to have matter The the

have are market, not yet. Vegas the the data of not the subscribers, but as material that, business most number to far customers disclosing they’re our most we’re we customers, of not customers but all, and the obviously and As

David Barden

Thanks, Charlie.

Operator

to We’ll with Chaplin Jonathan question go our Street. next from New

Jonathan Chaplin

Thanks.

than wondering So new again, can you another of a would be us question some would allow with flow. with I you a of financing with in-market imagine give planning. Charlie, capital it AT&T you I important for capital, the the you And that’s initially question, much the or more at that rates with got build T-Mobile risk other that at cash where thinking DBS I’m think then at of allows a are roaming, and benefits on more raising MVNOs helped if antagonizing MVNO that efficient lower networks? MVNO, the from of sense were network And

funding than out the you still requirements is get gap now? it Or billion? at build $XX to lower So something is to that networks through your

Charlie Ergen

nobody’s at we to if be going mad in below come Well, us billion. $XX

at looking looking we’re the at XXXX, we’re build think the at I milestone. this that is – final is So the looking we’re maybe our but which misunderstood, that cost build through

to get there milestone. the So don’t more for you costs have rural that, that you America when next there’s obviously,

I of accurate, ballpark in the that we’d and was terms in funding ballpark think of but was or in probably where go. you take maybe not give a did you’re report and completely everything there the

deal the than was new better shape are And other good business T-Mobile otherwise in-market our and make things than us certainly a perspective, that for You’re a before. for correct, roaming is of with profitability it reasons. from variety

that with before. T-Mobile with both have that we didn’t – have and We

options, is at. it there’s and there all the edges so that, funding, again, comes nothing that don’t improved, look around there’s the So to have look Jonathan, when we – just but things that we then at

every So we look at business.

the than the and the at other, – that kind gave – today. confidence call we out as guidance headed. profitable have gave And going get we're But And way Fortune become can financing I to mean, XXX that we're our be at there. that's structurally will we we to was today. tomorrow, company. of to Day, guess, as don't in you, materially as going going on assuming I means only twice we I the have worse Analyst and timeline or you every a get We are our wish big we're look at that, have – that look we're Then – right. one every where is We're marketplace people built. but twice network I we doesn't

Jonathan Chaplin

Got it. Thanks, Charlie.

Operator

to go question with next We'll our Piecyk from Walter LightShed.

Walter Piecyk

about was earlier you basically talking and curious, service prepaid. just goals postpaid a – there And or had some I maybe Charlie, you Thanks. customers. and field to DOJ think to were touchdowns I'm and I'm SEC requirement said that sell

continue you're and chiefs that service that boosters? in a it's Now you just go have this you on field can of up division offering own the Do punt goals the that Is business. lot you touchdowns, where postpaid. to something with scoring a to putting postpaid just only get since

Charlie Ergen

that I'm guess, me. antagonizes I I'm really kidding. kidding. No,

Walter Piecyk

to say sure. about for prompt One and my antagonizing worried CEO questions that's a

Charlie Ergen

antagonized. take Well, already you've people because questions, your even don't Yes. most

Walter Piecyk

true. That's

Charlie Ergen

been I've impossible. married. It's

Walter Piecyk

a He question. tough doesn't want

Charlie Ergen

list for is been boost tough – so right. XX possible. if it's a me. options And look at We Yeah. answer everything, owning a married at anything's antagonize I've it's is The all years, necessity. prepaid of to not you look

capacity industry. network. on think our others of sold company to can owning we're the that – but that, network, so lot be right. real our things again, we've all And to the a and synergies our come are we're in in the that said the wholesale that in I going value of And business, is there's

we're not network, monopolize to So right. our trying – it's

is it it that guess, the with today, answer not necessity, preferred belongs I believe it's so, but us. a And with belongs we'd we

Walter Piecyk

a the lot competitive. more And got division

Charlie Ergen

please. touchdowns, More

Walter Piecyk

think market I and you in power the of what's to some enterprise might technical an anticipate term kind did, So compared the kind has of outlook the why flagship kind there did talking talking maybe a offer I unique flexibility whole kind what about long having the demonstrate and the that network, your sales all to open slicing of, How the job Stephen the team maybe is, stuff. about good don’t after network know having network of something of at cycle today. when customers of

Charlie Ergen

right Stephen He's companies it today. to to They because guy here. to how Bye They that longer is they pretty making would some to And long make on the I their they if product on safer, have the jump John, well know, vacation better. is But saves makes in that, are don't want And how money. see have cycle that. deserved long-term talking – to you're sales their answer you how to in it case. large pretty et the see commitments product see have cetera. be

really in So think, where be there is, And integrator think delivering that One and the be talked have Stephen I about. two probably the strategies greatest example places we there may might we are value. hospitality, be to we we're add could – the system already it video the customer.

areas and There's kind there's have Wi-Fi are three cloud. as also Dell and and business don't probably Amazon And But a and largest today in players people a optical and that we So we're Cisco or much and few of – hardware lot enterprise relationship. connections. a those having our expertise others. the customers, like the for

– partner with would what where them relationships. to opportunity call subcontractor, I already – an sales have we a they and forces so as And have

and a there's to into get for control Wi-Fi So more they way companies spectrum those as into spectrum. us get their secure more spectrum into over to more want licensed And beyond and move businesses business.

there. we up in cycles interest but half air those like, doing but on – a to what spend they're little have second So more bit now the – after we to continue than continue deals, they're this year. the in we're not and bit the time are And are sales deals not the were for little we we increased we're big a eminent are first milestone, and longer able and of

Walter Piecyk

whether it then TV. a plan potentially on company is I if kind AT&T not can And feels megahertz synergy spectrum just on you like, on be at meaning it. could XXX and of potential. lastly, update that think I it’s reduces us same costs. direct thing any the this as that, purchasing of the it effective Got Therefore you just mean, quarter, a TPG give I asked cutting some

back that holds to some regulator what curious trying on to deal? agreement Just to coming take you from pursue proactively guys to

Charlie Ergen

Yeah.

I which the couple your today months. wait DIRECTV, that’s think to do on and you’re MHz. biggest going say you’re think the I So the wind’s the close the question? that regulatory we think XXX you’d that blowing, next was same is and thing, What in could, see inevitable, to And risk. think I know election enough I Oh, way but other

an essentially have option we have an to buy – We that.

on that’s So good uses like lot there’s we going think We spectrum. of spectrum. to now for the a obviously We financially. depend the are

building We’re in a our potential That’s but is network, had it, the spectrum around because we they’re believe T-Mobile, I fine if purchase payment met from that think off radios. milestone. We in it’s a first FCC, terms our in we the out so table. to weren’t we to radio, it’s our of the million. $XX our There

but us, have a – on must we, are, nice not it’s So have for for sure. it it’ll it’s depend to a where

Walter Piecyk

Okay. Thank you.

Operator

our next question Ric And with we’ll Prentiss from go to Raymond James.

Ric Prentiss

back that where lost dollars pain? how irritant the now help you a dollars much productive Charlie, day, head questions, being Or as actually about through the there that of productivity following that couple think maybe of with come us effort. times is just on Couple you touched you you’re Is was that a CDMA understand refocused shutdown, Thanks. it get in?

Charlie Ergen

a I mean way – just, million. over we’ve another was – is, indirect I hard I’d mean, and years. get fun mean heck just it to mindset offense, you the offense now whole more cost I to day it’s two And different about billion. $X it, playing and – the defense play think and probably I every we lot guess was come a say in, a Yes, $XXX of that’s for we defense. The been cost

what score And and so. you’re points of defense, is pass, as score So, you’ll you as University hope many do of hope Tennessee, to and intercept points. like defense, to you lot when offense then then the don’t in up more on hurry a offense, – playing you get you maybe but a

management them here don’t a bit, this but… I I team – more some know, from So, give go little I hurry there, got to to hurry coffee, them up up

Ric Prentiss

has what access, for share DISH area Another you you all, from an you fixed cable market? one, do in kind of and interesting right? go the fixed wireless, take to what and with need broadband, see going operators that People to wireless do been opportunity offense do after

Charlie Ergen

The of kind profitable And what enterprise the answer probably fronts. best are prepaid Right? to probably in and is yes, third, stack best there. – – second, And we’ll obviously It a the customer depends postpaid watching how be doing on of we’re fixed we rank our fixed and lot T-Mobile that. use is do first, going see wires on network side most of number fourth. enter is with access Verizon

you we fixed there’s rural do things think with we America, wireless, some have interesting get could particularly I into as more distribution.

no there’s to economics things play. to government and right government there to and goes we have So, we’re funding funding government And extent of pretty obviously your probably funding, obviously competitive. other obviously have you If competitive. we’re set the there’s government really competitor, don’t funding, the that

shakes unclear it of bit it. capable So it’s a How but certainly our is out, market. network of a

In our fact, in sort our network’s today. way customers And funny a are capable fixed wireless. many of of in fact, of it

Ric Prentiss

on updated on call me the things And coming November the think can us company? going with with DISH about share is, SPAC your you I last what’s the one SPAC date, is on with to up the any

Charlie Ergen

No, can’t. I

Ric Prentiss

about [indiscernible] How there’s –

Charlie Ergen

over There’s there. a CEO

always You can call.

Ric Prentiss

getting can so you IR all Any of team, by updates to get antagonized us? an quit

Charlie Ergen

What’s that?

Ric Prentiss

on team. update IR Any an

all quit So can by you us? of being antagonized

Charlie Ergen

think I well, have is you most ways IR. that piecemeal got logical you’ve charge together. We Obviously and responsive the be realize the communicative IR, that obviously of one more somebody an street. in we step to to of we Oh,

it’s, on make money daily make really to going money, Sometimes on money. to but going you So, you’re a we not us just or it’s get things say, talk we mind company it’s like. to we’re delayed Make a rather company. be, that I’d right? it’s think wants people done, guys this of we out have but of what few should the need out till no in not the also anybody lot the going bill make, we’ve going to a highest you to in times, rather ideas gratification. whatever, make at this work It’s the get in it’s our It’s probably basis, list. of on call but or money. I to other priority, be really person, that it’s Paul – freebie, all right our things a Shawshank list The done, struck some no Redemption And talk to I’d a it’s And and and at. give looks what and and looking not we hard, call.

Operator

our Craig MoffettNathanson. next We Moffett will take question with from

Craig Moffett

Hi, thank you.

questions I'm anymore. going with So answering antagonize not to you

can I what we we've learn. think learned

to talked your let going agreement look So that now roaming If network was is you the about – in-region like. have what you me that ask before.

meets base kind think requirement. network a you sites of you customers, small network more your high first the in what areas. kind focus one you spending deploy is going density is do about your it's for forward? where in are sort sort of of think way of looking just higher just because it canopy But I'm cell for presumably at capital coverage You your sort check itself? concentrated it greater wondering compute and be of enterprise a business. of capital about the or money the going to requirements macro allocating of the your box meeting just How they're speed sort and that for is cells the is then on and the density of mobile-edge of tower think coverage Is to

Charlie Ergen

good it's I Yeah, a think question.

than nuance more much it's that. So

that the we network for be without our because of very go, to retail in macro that but So a certainly traffic or build build expensive most subway a tunnel retail primarily a something lot will us customer i.e., that's where customers, customers. to would go of might our that be a might

out, basis. a based on but we success build, will we'll build build our out continue we'll to build Beyond to milestones, continue

So build you to enough can right? that. roaming appreciate a whole want the this be see charges, same to where they advantageous Craig for owner – that in we'll in be long the And more sense have that once we'll you will reach and have advance of a economics, it certain commercial to customers your think density, advance campus, the commercial might truth The more most and success college part. customers, long about for trans going well, that's based amount see

build time they have go has our that want a because which is a a You what density, but and to going more competition want edge you're There they slice our want of it the a – network then is do we cut and something there we contractor many with, in for advantages tougher really many of out some that they have we to based that. are do are advantages allows how control terms them whether that architected architecture compute, right. some it. And of on they

lot based. below, anybody to nuanced. But it's It's billion be There'll it. detailed street more good networks. it's we So prepared and people, answer look be better lot deploy that. ways. going And some a with won't hope. else, in $XX lot it. be to than is The a or it's just going to a the of as capital beyond we're success more – it the other as will for to how on the we net consumer, disadvantages it But our better doing our go but but mark in be some There'll we're

build building going to it. We're that? something want to it to on So Dave, now return to it, you not might a add get are just

Dave Mayo

think you I did.

mean, the deals Charlie. need to the SoFi I we the really was have You mean, that we not rolling place building build in had build SoFi an of Craig that opportunity of just give some, that's of won't got to and I agreements and I the I cost venues. us conversations one think something first really the about about and think do I it, all because

Craig Moffett

SoFi is a good example.

to example, a the like you're in to demand that more the of Las But and need topology to example a and purely opportunity of just, I'm of where and a and things to is you get probably data there learned, guys? for So going market say, is I'm functions would for you prioritize airports trying retail. or market and is corporation, more have their how not be which commuters executives sense in network the specific back talking arenas – Vegas to going match you from stadiums for office? for the customers is of that, you it

Dave Mayo

not a it places think costs what create you really and it comes to down of in and think you're you you walk in lot your customer stadium, about When that stadium a those to contained. costs the – a to you out into stadium. I roam Craig phone traffic the is experience it stadium, not use what handover there's versus where and the can build of

of period within can most of leverage long long as you're a that example captive example a time. network think else's provide the because probably actually for somebody I You're we network time. very a for great That's period profound where a of of customer a captive could a coverage. to That's network

Charlie Ergen

But go are versa, vice T-Mobile better that, is we'd in sometimes the that in no the notice at arena, or in the deal. customer not doesn't but them best or customer, or get T-Mobile's customer's customer have the AT&T a the AT&T case, there's going we capital. – And not to there. save the both doesn't of with but And that's then –

to and allow it I So architecture months you we to match you’d next in a cost of milestone. were a And from look literally and what and at based look we’re view, will DISH at to got to network point wow, as can XX when that comes competitive. say, the of this if in our it people be continue very operation economics away be set very, from place long build for build marketplace, difficult them agreements to term, has financial on

and So that’s milestone. pretty a big

headwinds – the pointed you’re through to got things. side, you So But financing as – on I right. those on everybody’s if the we But don’t see get have But we correctly inside we look compelling, we’ll see. this and know, it’s today. out

a allows we great take about term, that’s where day a think And and long product. we it’s I financially – take term we long time, to. the as a then next do And to in it But not believe prove long XXX% guarantee build we to have successful approach that great way vision, we the believe hopefully rewarded. to will to have us it. team it. – that’s is get as We And first life. shareholders if we I build year, focus every believe will product way it. long that right a think the be be from long-term But it’s we And the our here get look, the there, we

Tim Messner

All right, operator.

from for have We more one the community. analyst time

Operator

from take analyst our [Operator question community. the final Instructions]. now will We

the question question. begin media this And following this analyst portion from the Citi. will call answer comes final of Rollins our to Michael We final analyst with

Michael Rollins

Hi, I taking thanks question. if could. the Two, for

platform into curious pivoting over environment current on much just can the business, terms in the a will the And macro SLING side larger opportunity of us to satellite live update And cord to First you streaming turn accelerate video the cutting? then an subscriptions? of on of topic possible update linear and give timing in or second the variety there’s in for talked Charlie an ways. the and partnerships a And marketing you’ve in if the financial strategic partners on the wireless or opportunity for just past, just strategy? more about different strategic questions partnerships

Erik Carlson

first the I’ll So Erik. Michael, question. take is this

I a mean, the and ever. content bucket long side video. than TV relationships are long-term written for have of in that There’s more you SLING you Folks of competition to with our profitable [indiscernible] there down it that most heads growth. linear customers it had decline on past, no targets and both can the about that growth, There’s we and business, DISH in today. meet we’ve in acquire on the the and our focused is some doubt, adequately think but retain that more are as really that the TV really profitability trying we’ve we’re on discussed and still see I slowing also term

the chaos on as an You’re like Amazon goes of us about experience little talked launching our done really service side, help TV has integrate to of to some it box and is Netflix up is will the that relates some But We’ve bit DISH as DISH the bit. management time, Android on help you to on done, YouTube. a well TV customer or although platform. a high. back monetize where declining them as decline. definitely And QX base in team and I And customer to to the keeping aren’t we we be. historically can, earnings quite do the an as a it seeing experience us time want stem saw Pay at growth all existing app try that TV well our think additional unique as linear, customer or the things. And as our obviously the is our It’s bit exactly targets us market from in apps TV retention perspective

a a prove can value to out spend in is. spend homes. obviously providers where in customer effort a top your you operational and a seeing have – we that and of and of talk not opportunities, Max, and SVOD, have place we’re time done on. Plus, et team’s We the experience. you’re lot and Netflix with We stagnation the making experience on there, Netflix, front. cetera, the and you content Peacock, number apps earn and and on consumer job effect discipline about changes we talk can the behavior whether the good et lot et exactly cetera. of HBO cetera, SLING folks it’s obviously happy spot a SLING, we’re cetera, of A et Discovery in On a customer their the on about growth financial now think some mean, I I that

want number they not today, cable complementary market value very a can there’s to way cancel. We’re for very the right? we of There spiky SVOD a customers – market, the very great that as there’s one barrier and with easy folks. of entry, you one some be best from to there. to not provide experience subscription content and But see a a describe limited is very the the And to in it’s may

been here to and every job better have is business a we do at customers’ earn – one I’ve that we have we day, learned of XX that throughout thing that the years almost SLING. so, And that to

Charlie Ergen

to SLING, Erik that. [ph] and some the I consolidation just that, add the in in be fallout there’ll OTT, some

– So profitable. and we’re

people everybody, not not. in are most So fact,

that So well smart I positioned happen. to not But think going profitable. to enough aren't there we're chase for we're things be who might customers

true. maybe Telco's work goes around is wonderful in is perhaps would see only ago, said our strategic our people couple where talk the strategic and that partnerships, people to to thought time their say not be The network, that this year what that of that decade, for going team plan they example. going it'll are today, detail. as in opportunity partners the they that work is that is a for Telco on XX% thing way business our growth So world. years a And and be The to O-RAN in couple next their that a particularly biggest be with that the but it'll network, they XX% they cloud-native it's right the an this next I realize XG that in a cloud probably our about a grow network is going can where providers of a have, and they in didn't because ago, the XXX% obviously, years just think – of I'm I people

and that, a each we I we So that gain think have to alignment there both other. with good have lot

I'm details. obviously talking So not big that's about but the picture

Michael Rollins

Thank you.

Tim Messner

operator right media now. All to will the we move

Operator

Light question take media We Mike Instructions] media. will from Dano [Operator of comes Our the from Reading. first members now questions with

Mike Dano

taking How other could or to you're plans boost for launching sell where your the fall two going essentially they're to Are going are infinite what – wondering to about like as phones? this and the around? free years a today. the how going around three to be model? sell years thanks you've you just you for plans phone phones, customer got thoughts device to plan it service Hi, and question phones if much your carriers comes just talk so is over and my particularly Yes. that's or I wondered Thanks. your you sell own or to do the build bring I'm whatever postpaid.

Erik Carlson

I'll take that, Mike.

So competitive. the to We're right? think the going above, answer's I be all

and think Boost go-to-market not that of much options kind at going gamut on segmentation we're we segment detail of of cover this too and our sort I our to – point. we're the I'm that have going to launching get strategy how all

have little we're background, some to You go actually offline going and a competitive market. I in but so going talked you all have bit, We're be above. the to

their So own device [indiscernible] across iOS. we'll the Android want We'll be sell be for gamut, who selling and appealing and bring we'll those phones.

Mike Dano

it. Thanks. Got

Operator

take question Moritz Scott And next our from will with Bloomberg. we

Scott Moritz

of great. I looking My instead we the question, pricing might to for be can know everyone call can what speak whole or futuristic maybe or here, for Boost some forward on give method. this day ahead I'm Hey, us even conduct your first don't terms of Thanks. Infinity the what's of the network give but the me new if for in in I this – you some dial Charlie, the of target? maybe cities date you both maybe that glimpse launch when

Charlie Ergen

obviously mean, we're Stephen, Yes. I nationwide. capable mean, of I being

have would there's we've that built-out a for although better because have that certain So priority cities there, economics us we'd obviously.

is price coverage. an but the customers, that we think is maybe focus thing so on is I that issue obviously for

not and but is there's say What doing, talk why a what distinguishes get or Maybe And focused team on get it's have coverage ultimately I'd and weighed, see Tuesday on. that's down the something. X price when some [indiscernible] – have what something that is that's think something they ability And our X, we're X, marketed. and coverage the do it only speed what's X, architecture with always they to we do us X, to customers the else and things it's that. things two are Steve buy other maybe we maybe network some there's price people I to they it's that customers it's or his I and speed, that reasons a distinguish else. it's – list, from way But don't really So X, in and we experience user or people.

or experience from business And able team down. so being skipping and to had was like ourself no churn we we And out the satellite our it's same different his went the competitors. cable and therefore it market and box, from to interactive and commercials guides of distinguish DVR things customer got we get and gained changed or Netflix automatically than Erik or share

scrappier don't So and what both creative the add million today and that's want other things pain a don't points on to Infinite and want Boost the similar we of – have up guys, have have. come of to entrepreneurial. things give – so marketplace are improve in we you some they and that's like that do things with that? see customers be Did innovative know you'll Boost – that And and customers they they the more the you'll fun we're I XXX I more think part think doing see to that then that

Erik Carlson

out And with do customers. competitive not million have, we come network have it. at aggressive out coming play of One pricing. we And allow it, alluded add Charlie and that. XXX then we pricing. we are our with going points There's But million, two just us [ph]. go the alluded to is no I on Yes, quick two gate a, point to to nationwide to X to in again, deals out Charlie but

perspective, in or disruptive the our marketplace dynamics. losing could worried sort about the from of we current not customers shake doing anything So up are that

lose. to We have to lot than gain have we a more

some and So play offense, puts us definitely position that a can we take in big funds. where

Tim Messner

wrapping one up. Operator, we'll take more before

Operator

come final Andrew our will Fitzgerald media question with And from WSJ.

Andrew Fitzgerald

market little Hey, or put like and affect network? are more fixed market? any to you in on any that detail your wireless others would see what out subsidy clarity of would in sooner depending building clarity it the, into could to what, your taking lack rather wireless providing, the programs Thanks teams the happens, that bring that Drew. some you these there. add that in make would opportunity the its. of capacity you once the online fixed some more some sense Charlie, on towers for do wireless fixed And gain markets share have go government upcoming of would Thanks. question. of a It's than opportunities what i.e. decisions in your if

Charlie Ergen

$XX of It allocated for divide. billion the a United Yes. in this, government broadband. XX.X% $XX best to is long answer, I'm the That's technology education, And States. if access take billion, particular going which as right? customers very States I'm is properly confident digital spent, is is, to of ask start get to the necessity with in Every bridge real family, broad the as broadband, for broadband, United every situation. as healthcare, long the and the as it'll north you the it question, to child the a deserves become

companies is you I fixed that and in the wireless, some have doing. that be maybe kind step you T-Mobile a it's cable also worry things is fixed kind are What know then Verizon bit have the coverage. And areas in got kind about it the like fixed of So all and maybe also very, it's areas, but think a And those not first and where rural maybe so things first; a kind some things and sense. the mobile very the of wireless some combination of fiber, would satellite it's cable mobile of could in don't the forth. right to is some of make of I and answer, dense are middle areas, very where you've little,

broadband. option And people on that of focused good current last we last accurately, job making in of very have time, Chairman FCC And didn't the is know don't so RDOF. the where we a the do sure

place you first And then, I the you to that's had start. technology believe neutral. So be

you NTIA So you resource do right? to sure, could an do is third you a and that customers, you that example, as make FCC you resources, the if number nature see terrestrially via need believe that for pick when together, thing but consumer, be the more, of put as one can to neutral, up the would that got tower. and more they had to another need do. We the customers, technologies and far, can gigs, both satellites actually technology you're capacity you using capacity Satellites exist satellite. pick can because you to use you XX all the very their for of The American terrestrial limited by got are

be going kind regardless government that that's We're receiving not where though start is It of and So subsidizing. person a not likely unlikely is they're the we're not, at way there's where getting go where obviously to look subsidy. not it I we're the wins. the over subsidy, advantage there's of it's government the And technology to you so best subsidy. would a, subsidy, we it's this confident we're, the pretty there, we competitive, are perhaps then feel an and everybody have else. fair, man We no a

the we in it And current government's in a case, prefer focused they Democratic I and have understand So going Republican going to on think both winners in the maybe it. but in – FCC but on the this involved they maybe pick that do, past. they're do the think they losers they, way pretty be sides, issues will I both it. to do, which didn't and They very

agreement positive. they That's together. I that will think for they really having NTIA the actually hit and be now, that's very, first so time, I And and critical, today to saw an work

unfortunately, fortunately the there. so a whether we'd government's we as I home, going If And has I as And That be then we'll and regardless is That's we play of to our to company, But, decide goals right we we can where we're every help. customer home the where should something go or like we want country. can it. to help think help, bring with just think broadband we how if that customer like fixed else. to wireless electricity. help, how every a goal do do can our company

Tim Messner

next We'll thank to for you quarter. Well, again, all joining. you talk

Operator

This concludes your today's call. Thank you for participation.

disconnect. You may now

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