Summary:

Press Release: India is delivering the much needed growth for the satellite radio services company, WorldSpace. The company finished 2005 wi…

Press Release: India is delivering the much needed growth for the satellite radio services company, WorldSpace. The company finished 2005 with more than 115,000 subscribers globally. During the fourth quarter, WorldSpace added more than 40,000 net new subscribers (Ed: it includes this writer too!), increasing its subscriber base by more than 50 per cent in the fourth quarter alone.

“The growth rate demonstrates that we are delivering on our plan to drive subscriber growth in India. The value proposition of our offering is being validated by growing the demand for our service,” said Noah Samara, chairman and CEO of WorldSpace. “We look forward to continue building on our success in 2005 and we are extremely excited about our plans to expand our service throughout India and other focus markets.”

At the end of 2005, WorldSpace was offering the service in nine cities in India, including Mumbai, New Delhi, Bangalore, Chennai, Hyderabad, Kochi, Pune, Ahmedabad, and Chandigarh, covering a population of approximately 29 million through 650 retail locations and 550 direct sales force agents.

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