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Worldspace Satellite Radio Reports Flattened Subscriptions

By | August 13, 2007

      Worldspace Satellite Radio saw a slight drop in overall subscriptions during the second quarter of 2007, the company announced with its earnings report on Aug. 9. For the period ended June 30, 2007, the broadcaster ended with 190,333 subscribers worldwide, a loss of 1,313 or nearly 1 percent from the close of the previous quarter. Meanwhile, WorldSpace reported revenues of approximately $3.6 million in the second quarter of 2007, down more than 5 percent compared with approximately $3.8 million for the second quarter of 2006. Subscription revenue was approximately $1.9 million during second quarter 2007, flat against the same in second quarter 2006. The company said that on a sequential basis, subscription revenues in second quarter 2007 were 4 percent higher than the $1.8 million recorded in the first quarter of 2007.

      Worldspace said the drop in subscriptions reflected low net additions in India and a net loss of subscribers globally: In India, despite pulling back on marketing and other promotional spending, Worldspace drew 3,261 net subscribers during second quarter 2007, ending the period with 173,615 Indian subscribers or a 45 percent increase from the end of second quarter 2006. The broadcaster meanwhile lost 4,574 subscribers, primarily in South Africa and Europe where the company has stopped selling subscriptions to customers within the Northwest beam coverage area of its AfriStar satellite in preparation for the testing and pending launch of its service in Italy.

      In a separate announcement, Worldspace reported launching five satellite radio stations via MSN India. Worldspace will provide 24-hour online programming on each of its Farishta (Hindi film classics), Sparsha (Kannada), Spandana (Telugu), Gandharv (Hindustani classical) and Shruti (Carnatic music) stations. The company said the move affords listeners access to a specialized platform online even where access to Worldspace Satellite Radio is otherwise unavailable.

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