Satellite and Broadcasting

Billionaire entrepreneur Elon Musk said he plans to invest up to 30 billion dollars to develop his ambitious Starlink satellite internet service.

SES announced its financial results for Q1 2021. Trajectory in video improved from -8.0% YOY in FY 2020 to -4.6% YOY in Q1 2021. In addition, the company showed a solid networks performance (flat YOY) in the COVID environment with strong prospects for future growth. SES registered a 7% YOY reduction in recurring operating expenses, reflecting S&A gains, supporting higher YOY Adjusted EBITDA margin (61%). Solid cash flow generation and financial discipline were recorded, supporting lower YOY leverage ratio of 3.1 times at 31 March 2021. Adjusted net profit was up 42% YOY to €75 million.

The government of Oman has initiated a bidding process inviting companies to help design and launch Oman’s first satellite by 2024.

SES announced progress in establishing its new and highly advanced O3b mPOWER satellite ground stations. Accordingly, the first three O3b mPOWER satellites are scheduled for launch in Q3 2021, with the next three in the first quarter of 2022.

SES has joined the Amazon Web Services (AWS) Direct Connect Delivery Partner programme through a technical and business review process, whereby AWS authenticated SES’s ability to deliver AWS services over its network of multi-orbit satellites. SES is the first satellite operator to achieve AWS Direct Connect Partner status.

A year after collapsing into bankruptcy, satellite operator OneWeb has revived its goal of providing broadband satellite internet service after European operator Eutelsat said it would invest $550 million in the project.

QMR-KWT, a 1U CubeSat that translates as “Moon of Kuwait”, is Kuwait’s first satellite that will be launched to space from the SpaceX Falcon 9 launch vehicle on June 24, 2021.

SES has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative, underscoring the company's purpose-led Environmental, Social and Governance (ESG) programme.

SES announced it will continue delivering Comcast Technology Solutions' Managed Satellite Distribution service, formerly known as Headend in the Sky (HITS), which reaches hundreds of multichannel video programming distributor systems across the US. SES recently renewed its long-term relationship with Comcast Technology Solutions (CTS), a division of Comcast Cable that provides media and entertainment technology to advertisers, agencies and content providers.

Global tech market advisory firm ABI Research forecasts that the satellite broadband market will reach 3.5 million subscribers in 2021. Growing at a compound annual growth rate (CAGR) of 8%, it is anticipated to reach 5.2 million users in 2026. In addition, the market will generate $4.1 billion in service revenue.