Both satellite companies grew their subscriber base by around 13 percent over the last year, but there are signs that the rate of growth may be slowing. EchoStar, the second-largest satellite broadcaster in the United States, added 225,000 subscribers to its Dish Network in the last quarter, bringing the total number of subscribers to 11.46 million. Rival DirecTV added the same number of new customers in the United States over the same period, taking its total subscriber base to 14.67 million. The company signed 964,000 subscribers in the quarter, but the number of net additions was down on the same period the previous year, due to slightly higher churn. EchoStar reported total revenue of $2.1 billion for the three months to the end of June, up 18 percent on the corresponding period the previous year, with a net income of $856 million, ten times more than for the same period the preceding year. DirecTV revenues for the same period were $3.18 billion, with a net income of $162 million, the first profit in two years, compared to a loss of $13.3 million a year ago.
The BaaS model has been adopted across a wide range of industries due to its ability to streamline financial processes for non-banks and foster innovation. BaaS has several industry-specific use cases, where it creates new revenue streams. Banking as a Service (BaaS) is rapidly emerging as a growth market, allowing non-bank businesses to integrate banking services into their core products and online platforms. As defined by Juniper Research, BaaS is "the delivery and integration of digital banking services by licensed banks, directly into the products of non-banking businesses, commonly through the use of APIs." BaaS Market Development The core idea is that licensed banks can rent out their regulated financial infrastructure through Application Programming Interfaces (APIs) to third-party Fintechs and other interested companies. This enables those organizations to offer banking capabilities like payment processing, account management, and debit or credit card issuance without