Earnings season is here, and we shift our attention to the US pay TV market. EchoStar’s Q2 2025 report shows what the industry and investors have come to expect from Dish Network—unsustainable rates of video subscriber churn. The question that EchoStar management must soon answer, some 18 months after the reunion with Dish Network, is how long this can go on for? The US operator reported a total of 289,000 TV subscribers losses in Q2 2025, spread across Dish TV (satellite) and Sling TV (streaming). Dish Network closed the quarter with 5.32 million subscribers, while Sling TV stood at just under 1.8 million—a combined pay TV base of 7.1 million, marking an 8.6% drop in the first half of 2025. Dish TV has…