DIRECTV 2009 Annual Report Download - page 34

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DIRECTV
ACCESS TO COMPANY REPORTS
Our website address is www.directv.com. Our Annual Reports on Form 10-K, Quarterly Reports on
Form 10-Q, Current Reports on Form 8-K, and amendments to those reports filed or furnished, if any,
pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge
through our website as soon as reasonably practicable after they are electronically filed with, or
furnished to, the SEC. We are not incorporating by reference in this Annual Report on Form 10-K any
information on our website.
In addition, our DIRECTV U.S. subsidiary, DIRECTV Holdings LLC, is a separate registrant with
the SEC. You can access DIRECTV Holdings LLC’s Annual Reports on Form 10-K, Quarterly Reports
on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports filed or furnished, if
any, pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 free of charge through
our website at www.directv.com as soon as reasonably practicable after they are electronically filed with,
or furnished to, the SEC.
***
DIRECTV, DIRECT Plus, SuperFan, SUPERCAST, ScoreGuide, DIRECTV Cinema, Game
Search, The 101 Network and the DIRECTV Cyclone Design are trademarks of The DIRECTV
Group, Inc. and/or its related entities. Other trademarks, service marks and trade names appearing in
this Annual Report are the property of their respective holder.
ITEM 1A. RISK FACTORS
You should carefully consider the following risk factors, as well as the more detailed descriptions
of our business elsewhere in this Annual Report. The risks described below are not the only ones
facing our company. Additional risks not presently known to us or that we currently deem immaterial
may also adversely affect our business, financial condition or results of operations.
Our business, financial condition or results of operations could be materially and adversely affected
by the following:
We compete with other MVPDs, some of whom have greater resources than we do and levels of
competition are increasing.
We compete in the MVPD industry against cable television, telcos and wireless companies and
other land-based and satellite- based system operators with service offerings including video, audio and
interactive programming, data and other entertainment services and telephony service. Some of these
competitors have greater financial, marketing and other resources than we do.
Some cable television operators have large, established customer bases and many cable operators
have significant investments in, and access to, programming. According to the National Cable &
Telecommunications Association’s 2008 Industry Overview, 96% of the 128.6 million U.S. housing units
are passed by cable. Of the 128.6 million U.S. housing units, approximately 97.6 million subscribe to an
MVPD service and approximately 62% of MVPD subscribers receive their programming from a cable
operator. Cable television operators have advantages relative to us, including or as a result of:
• being the incumbent MVPD operator with an established subscriber base in the territories in
which we compete;
• bundling their analog video service with expanded digital video services delivered terrestrially or
via satellite, or with efficient two-way high-speed Internet access or telephone service on
upgraded cable systems;
• having the ability to provide certain local and other programming, including HD programming,
in geographic areas where we do not currently provide local or local HD programming; and
• having legacy arrangements for exclusivity in certain multiple dwelling units and planned
communities.
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