Sling TV is touting a major comeback after adding 159,000 subscribers in Q3, but the growth comes with a big asterisk. Parent company EchoStar changed its accounting methods to count revenue from short-term "Passes" as full subscribers, inflating the total by 51,000.
Subscriber sleight of hand: The new accounting, which began in August 2025, converts revenue from non-recurring daily, weekly, and weekend passes into "subscriber equivalents." This allows Sling to report growth and a total of nearly two million subscribers, even though a significant portion aren't traditional monthly customers.
A useful distraction: The accounting shift helps paint a rosier picture for EchoStar's streaming business, providing a positive headline to distract from its legacy Dish satellite service, which continued to hemorrhage customers by losing another 152,000 in the same quarter. The flexible passes are a clear strategy to capture revenue from commitment-averse streamers without the hurdle of a monthly subscription.
Shuffling the deck: The move comes as EchoStar undergoes a major strategic overhaul, launching a new investment division called EchoStar Capital. Co-founder Charlie Ergen has returned to the CEO role to oversee the core pay-TV and wireless units, while former CEO Hamid Akhavan will run the new investment arm, which is funded by recent multi-billion dollar spectrum sales.
EchoStar says it's time for the business to "go on the offense." For Sling TV, that offensive strategy apparently includes redefining what it means to be a subscriber. But EchoStar's corporate restructuring is being fueled by massive, multi-billion dollar spectrum sales to companies like AT&T and SpaceX. The company's financial health extends beyond pay-TV, with its wireless and broadband divisions also playing a key role in its overall performance.
