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Dish TV investor Presentation

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Subs mn<br />

171<br />

202<br />

234<br />

319<br />

529<br />

540<br />

588<br />

971<br />

1023<br />

1086<br />

1150<br />

1298<br />

1437<br />

1638<br />

Fixed content cost driving margins<br />

3000<br />

2500<br />

2000<br />

1500<br />

1000<br />

500<br />

0<br />

80%<br />

71% 71%<br />

73%<br />

70%<br />

70%<br />

61% 61% 59%<br />

60%<br />

58% 61% 60%<br />

54%<br />

57%<br />

54% 54%<br />

46%<br />

50%<br />

41%<br />

46% 46%<br />

40% 39% 39%<br />

43% 42% 39% 40%<br />

29%<br />

30%<br />

29% 27%<br />

30%<br />

20%<br />

10%<br />

420 502 646 755 804 867 929 670 881 925 986 1,001 1,060 1,062<br />

0%<br />

Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10<br />

Content Cost Contribution Content Cost (% Subs Revenue)<br />

26

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