Bloomberg reportsSpaceX is on track to book revenues of about $9 billion in 2023 across its rocket launch and Starlink businesses, according to people familiar with the matter, with sales projected to rise to around $15 billion in 2024.
SpaceX has completed a new factory to mass produce Starlink satellite dishes. Currently, SpaceX has been making 100,000 to 150,000 dishes per month. SpaceX has a range of higher priced monthly subscriptions that make several times more money than the residential Starlink subscriber. The mix of business, mobile and RV customers and priority customers can more than double the average annual earnings for Starlink.
The current mix of 2.1 million Starlink customers seems to be averaging $2000 per year per customer. This would be about $4.2 billion per year. There is also installation revenue and launch revenue.
If the new factory for dishes can enable a faster monthly customer onboarding rate then SpaceX could add 3.6 to 10 million new customers in 2024. 3.6 million customers at an average $2000 per year would be an additional $7.2 billion per year which would be close to the Bloomberg reporting of an added $6 billion in annual sales.
My detailed SpaceX Starlink projections are that there should be more customers added and they should be a greater mix of premium customers.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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And the collective net worth of all the journalists who keep shouting about Elon’s shortcomings is $0.