Fri. Dec 8th, 2023
Starlink Internet Service Achieves Breakeven Cash Flow, Says Elon Musk

Elon Musk has announced that Starlink, the affordable space internet service provided by SpaceX, is no longer losing money and has achieved breakeven cash flow. Previously, Musk had stated that Starlink was losing about $20 million per month. In a recent post, he expressed his excitement about the achievement and praised the great team behind Starlink’s success.

Furthermore, Musk revealed that Starlink now holds the majority of all active satellites and is expected to have launched the majority of all satellites from Earth by next year. The satellite internet service, which is likely to enter the Indian internet market in the near future, generated $1.4 billion in revenue last year. Although this is an increase from the $222 million generated in 2021, it falls $11 billion short of the original projections.

Currently, there are approximately 5,000 Starlink satellites operating in low-Earth orbit, with plans to launch up to an additional 37,000 satellites. SpaceX, the aerospace company led by Musk, aims to carry out 12 launches per month, with the goal of placing more Starlink satellites in space to support the satellite-based cell phone service. This service is set to launch next year as a texting-only service, with voice and data capabilities expected to be introduced in 2025 and beyond.

In the past year, SpaceX has successfully completed 61 missions and has launched over 88 rockets within the last 12 months. Additionally, the company conducted a test flight of its larger Starship rocket bound for Mars.