Bruce
Bender and Chloe, the real Members of the Year
Original poster
Supporting Founder
Lifetime Supporter
- Nov 29, 2003
- 15,956
- 20,507
That is how I read it.
But, even if it makes it out of Chapter 11, it will burn through that $1 Billion quite quickly because they are still losing per sub fees.
For example, their #1 TV Provider, Comcast just reported another 389,000 gone in the 4th quarter, so no more per sub fees from how many of those receive Ballys.
How does Diamond increase revenue when they are still losing subs, advertising is in the toilet, a very small percentage watching, only, at the most, close to 300,000, for all of the streaming areas combined, subscribing.
As of now, Diamond top 3 TV Providers have lost in 2023
Comcast- 2,036,000 (all 4 Quarters)
DirecTV -1,350,000 (3 quarters)
Charter-768,000 (3 quarters)
That is 4,154,000 ( and before 4th quarter losses for two of them) per sub fees gone for the RSNs.
So since 2017, RSNs have lost about 60 Million Subscribers, because so many providers do not carry them (Dish, Sling, YTTV, Hulu Live, etc) and a lot have packages that do not offer the RSNs, like Entertainment from DirecTV.
So about 40 Million ( and shrinking )still receive the RSNs, using the same average of $7 per month, that is $280 Million a month, $3.3 Billion a year, for all the RSNs nationwide.
But from that $3 Billion, you have to take away the costs of running the channels, including those way too high contracts with the teams, for example, for MLB, Texas, NY, LA, the annual contracts combined for just 3 teams is about $500 Million a year.
So unless things drastically change, RSNs have 2-3 years left.
