SpaceX’s broadband satellite internet service, Starlink, announced that it now has over 2 million active customers, with an addition of 1 million customers in the last 9 months. Starlink is available in more than 60 countries and on all 7 continents, providing high-speed internet connection.
Starlink, created by SpaceX and powered by satellites in low-Earth orbit, had around 1 million active subscribers globally at the end of 2022, indicating a rapid growth of 1 million customers in just the first few months of this year. The company launched its initial Starlink satellites in 2019.
In comparison, AT&T had over 15 million broadband internet subscribers in the United States alone by the end of 2022, while Verizon had over 7 million subscribers, according to Statista. Starlink’s goal is to achieve latency consistently lower than 20ms for major data centers within a region. Elon Musk, CEO of SpaceX, acknowledged that achieving this goal is challenging but expressed confidence in the company’s capability to do so.
Despite its significant customer base, Starlink’s financials have been disappointing. The Wall Street Journal reported that Starlink generated $1.4 billion in revenue for 2022, which fell far short of the company’s earlier estimates. In a 2015 presentation used to attract investors, SpaceX projected revenue of nearly $12 billion and operating profit of $7 billion for the segment in 2022.
The growth of Starlink is a positive sign for SpaceX, as it demonstrates the increasing demand for reliable and accessible internet connectivity around the world.