DirecTV Latin American unit, managed by Vrio division, posted a decrease in its subscriber count for three quarters in a row, according to telecommunications company AT&T Q3 2021 financial results. Grupo Werthein is to become the owner of Vrio on the close of the acquisition transaction, which is expected to take place during Q4 2021. According to previous forecasts, the transaction would close in early 2022.
The subscriber count as at the end of Q3 2021 was 10.14 million, which accounts for a 1.7% quarterly decrease. Vrio, which encompasses DirecTV and Sky Brasil Satellite TV (DTH) operations as well as streaming Pay TV service DirecTV Go, had reported a 2.3% loss in Q2 2021 and a 3.5% decrease in Q1 2021.
According to AT&T, “Vrio subscriber net losses of 178,000 were driven primarily by secular declines and economic pressures in Brazil, and lower sales in other parts of the region.” The Division’s revenue in Q3 2021 amounted to USD 756 million, which is very similar to the figure reported for the same period of 2020 (USD 753 million).