White said that while competition had intensified and that programmers were seeking higher-than-expected rates for content and digital rights, DirecTV remains well positioned to deliver mid-single digit revenue and operating profit growth during the next three years.

   “Macroeconomic weakness continues to pressure the U.S. consumer, driving them to be decidedly more cautious and focused on getting good value for every dollar they spend, even as the economy has marginally improved,” said White. “We continue to forecast overall revenue and subscriber growth of about 20 percent year-over-year.

   DirecTV added 125,000 subscribers in its 2011 fourth quarter as its churn rate increased to 1.52 percent. Analysts were expecting 176,000 subscriber additions in the quarter, with a churn rate of 1.49 percent. DirecTV Latin America, however, added 590,000 subscribers, which beat analysts’ forecasts of 528,0000 due to strong demand in Brazil, Argentina and Venezuela.