Since SpaceX launched its Starlink satellite internet service, provider Hughesnet has lost more than half of its customers. The company, which specializes in providing internet to rural and remote areas, is currently facing a severe financial crisis. This is reported by Ixbt.com reports .
In December 2020, Hughesnet had 1.56 million subscribers, but as of March 31, 2024, this figure dropped to 681,000. The company loses an average of about 100,000 customers annually, and in the first quarter of this year, the number of subscribers decreased by 20 percent compared to the previous year.
According to financial reports, Hughesnet stated that it does not have enough funds to pay its debts. Acknowledging serious concerns about its ability to continue operations, the company reported a net loss of $7.6 million in the first quarter.
The main reason for customers switching to Starlink is the significant difference in internet speed. According to Ookla data, while Hughesnet users in the US have an average speed of 48.55 Mbit/s, Starlink customers enjoy internet speeds of 127 Mbit/s.
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