SpaceX’s Starlink Revenue Per User Fell 18% As Customers Quadrupled

SpaceX’s Starlink satellite internet service quadrupled its individual subscribers between 2023 and 2025—but the average revenue each subscriber brought in fell 18% to $81 a month in that period, a draft version of SpaceX’s initial public offering prospectus shows. The decline in Starlink’s ARPU reflects the service’s introduction of cheaper plans and expansion outside North America, where average prices tend to be lower. SpaceX says in the prospectus that it expects that figure to keep...