Worldspace records $2.3 mn Q2 revenues

MUMBAI: Satellite radio service provider WorldSpace Inc. has reported its financial and operating results for the second quarter ended 30 June.

For the second quarter of 2005, WorldSpace reported quarterly revenues of approximately $2.3 million, representing a 21 per cent increase compared with revenues of approximately $1.9 million for the second quarter of 2004, states an official release.



Subscriber revenue increased 390 percent to approximately $0.8 million for the second quarter of 2005 compared with subscriber revenue of approximately $0.2 million for the second quarter of 2004.

During the second quarter 2005, WorldSpace continued the rollout of its service in key cities in India, including Bangalore, Chennai, and Hyderabad. As of 30 June 2005, WorldSpace had acquired 63,930 subscribers. This represented net subscriber additions of 11,427 for the quarter, an increase of 93 per cent over the 5,936 subscribers added in second quarter of 2004, the release adds.



The company recorded a net loss for the second quarter 2005 of $22.0 million or $0.95 per share compared with a net loss of $52.3 million or $9.04 per share for the second quarter of 2004. WorldSpace had an EBITDA (earnings before interest income, interest expense, income taxes, depreciation and amortization) of $12.0 million for the second quarter 2005, compared with $10.0 million for the second quarter 2004.

Said WorldSpace chairman and CEO Noah Samara, "The second quarter of 2005 was a critical time for WorldSpace as we prepared for our initial public offering, ramped up our marketing campaign in India and continued planning for the rollout of services in Western Europe and China -- markets where we enjoy a first-mover advantage. We also continued to form strategic partnerships and add new customer-driven content to our satellite radio offerings, especially in India, an under-served and highly attractive market for our products. Lastly, we continued to provide services to U.S. government agencies under existing contracts, all of which position us well for growth and expansion in the year ahead."

WorldSpace ramped up its marketing campaign in 2005 after receiving funding at the end of last year. During the second quarter of 2005, its blended Cost per Gross Addition (CPGA) was $103, compared with $107 CPGA during the second quarter of 2004. Blended CPGA includes the fully-loaded cost to acquire each new subscriber in India and in our other markets such as western Europe, Africa and the Middle East, and includes Subscriber Acquisition Cost (SAC) and other marketing expenses such as advertising and point of sale materials.

India CPGA during the three-month period ended 30 June was $175, compared with $94 for the second quarter of 2004, representing a significant ramp-up in marketing activities this year. WorldSpace's blended SAC for the second quarter of 2005 was $2.04 per subscriber, while the India SAC for the three-month period was $11.96 per subscriber.

Latest Reads
Andrew Jordan announced successor of AsiaSat's William Wade

Asia Satellite Telecommunications has announced the retirement of its executive director, president and CEO William Wade. He will serve his last day in the company on 1 November 2016 but will stay back as the senior advisor of AsiaSat until 31 March 2017.

Satellites Satellite Operators
GSAT-18 successfully launches, new capacity for DTH operators, TV channels

MUMBAI: Indian DTH operators, television channels, VSAT and digital satellite news gathering providers are a happy lot because of a development in Kouro French Guiana this morning. The reason: the successful launch of Arianespace’s Ariane 5 VA 531 rocket with its passenger, the Indian Space...

Satellites Satellite Launches
Bad weather pushes forward GSAT-18 launch

MUMBAI: The nation - and communication satellite trackers - will have to wait for another day. The Indian Space Research Organisation (ISRO) has announced that the launch of its GSAT-18 communications satellite has been delayed by a day. According to its launch partner, Arianespace, the flight...

Satellites Satellite Launches
ISRO's PSLV-C35 launches seven other satellites successfully

Around two hours after lift-off and after placing India’s weather satellite ScatSat1 in a polar sun synchronous orbit at 720 km, the Indian Space Research Organisation’s (ISRO’s) PSLV C35 rocket fired once again. Following that maneuver, it placed another seven satellites in orbit at an altitude...

Satellites Satellite Operators
ISRO’s PSLV-C35 takes off successfully, Scatsat1 launched

MUMBAI: It’s another feather in ISRO’s cap. The Indian space outfit seems to be going from success to success. Earlier this morning at 9:12 am, its latest mission the PSLV-C35 lifted off immaculately from the Satish Dhawan Space Centre in Sriharikota. Around 17 minutes later, its fourth stage...

Satellites Satellite Launches
ISRO to launch eight satellites using PSLV on 26 September

MUMBAI: It will be the second satellite launch this month for the Indian Space Research Organisation (ISRO). On 26 September 2016 at exactly 9:12 am the PSLV C35 will blast off from the first launch pad of the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh. It will mark the 37th...

Satellites Satellite Launches
XTreme-AsiaSat to provide 4K premium UHD content

4K-SAT, the Ultra-HD channel operated by Asia’s premier satellite operator Asia Satellite Telecommunications Co. Ltd. (AsiaSat), will be broadcasting premium extreme and outdoor content from XTreme Video on AsiaSat 4.

Satellites Satellite Operators
Govt satellite launches, including from India, to dominate future space market: Euroconsult

NEW DELHI: A major portion of satellites slated to be launched from 2016-2015 with launch mass over 50kg will be dominated by government satellites from countries like the US, Russia, India, China and Japan, according to Euroconsult.

Satellites Satellite Launches
India’s weather satellite INSAT-3DR launched successfully

India's Geosynchronous Satellite Launch Vehicle, equipped with the indigenous Cryogenic Upper Stage (CUS), on Thursday, successfully launched the country's weather satellite INSAT-3DR, into a Geosynchronous Transfer Orbit (GTO) in its tenth flight (GSLV-F05). The achieved orbit is very close to the...

Satellites Satellite Launches

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories