Worldspace Subscribers Gains Slow, Loss Increases
Worldspace Satellite Radio lost $28.9 million in its 2006 third quarter, up from a loss of $15.4 million in the same period a year ago, the company announced Sept. 9.
Revenues improved 42 percent over the same period, growing from $2.4 million in the 2005 third quarter to $3.3 million the most recent quarter, which closed Sept. 30. Subscription revenue grew 89 percent to $1.8 million for the 2006 third quarter.
Worldspace added nearly 16,900 net new subscribers in the 2006 third quarter, closing the period with more than 176,800 subscribers. In India, where Worldspace has made a major push throughout the past year, the company added more than 18,500 net subscribers, ending the quarter with more than 138,000 subscribers.
Subscriber acquisition costs were $37 in the third quarter of 2006, compared to $27 a year ago. Cost per gross addition was $137 in the most recent quarter, compared to $407 in the 2005 third quarter.