Worldspace Loses Subs in 2007
Worldspace, the global satellite radio provider, ended 2007 with subscriber losses in its core markets. But the company said it's expecting big things to happen this year.
The company completed the fourth quarter/2007 with 174,166 subscribers worldwide, a loss of 3,478 from the close of the prior quarter. The losses reflect the cessation of marketing efforts in Europe ahead of the company's efforts to commence mobile service throughout the continent, beginning with Italy in 2009.
In Worldspace's India market, the company lost 1,827 net subscribers in the fourth quarter, reflecting continued reduced marketing in that region while the company awaits regulatory approval for its mobile system. Worldspace said it ended the period with 163,075 subscribers in India, compared to 162,010 at the end of fourth quarter 2006.
Worldspace CEO Noah Samara said the company continues to make progress in Italy, its European launch market for mobile satellite radio service. "We believe the Italian market, and indeed the broader European market, represents a remarkable business opportunity for a robust mobile service," he said.
Company goals for this year include securing licenses and approvals in at least four additional major European countries as well as India. Also, Worldspace is developing a satellite/terrestrial hybrid service for India and the Middle East, Samara said.