Declining Revenue TrendA >20% revenue decline reflects weakening subscriber volumes or ARPU pressure, a durable headwind for a pay-TV operator. Persistent top-line contraction impairs scale economics, limits margin recovery, and reduces the pool of funds available for content, distribution and customer retention investments.
Persistent Net LossesOngoing net losses erode equity and constrain reinvestment capacity. Losses limit the company’s ability to fund marketing, content deals, and technology upgrades internally, forcing reliance on external capital which can dilute stakeholders or increase leverage, weakening long-run competitive positioning.
Balance Sheet StressNegative shareholders' equity and high liabilities indicate elevated solvency and refinancing risk. This structural weakness reduces financial flexibility, raises borrowing costs, and increases vulnerability to industry shocks, making long-term investments and strategic pivots more difficult to execute.