SpaceX’s Starlink is growing fast, but it is making less money from each user, according to The Information. The aerospace company’s draft IPO filing shows that subscribers nearly quadrupled from 2023 to 2025. However, average revenue per user fell 18% to about $81 per month over that time. This is mainly because SpaceX introduced cheaper plans and expanded into regions outside North America, where prices are lower. Because of this strategy, the company expects revenue per user to keep declining as it continues to grow globally.
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Trade TSLA with leverageEven so, the overall business is still growing significantly. Despite earning less per user, total Starlink revenue nearly tripled to $11.4 billion in 2025, up from $3.9 billion in 2023, thanks to the large increase in subscribers. This shows how SpaceX is changing Starlink from a niche service for remote users into a more mainstream internet provider. However, Starlink’s average monthly revenue per user dropped from $99 in 2023 to $91 in 2024, and then to $81 in 2025.
Separately, new competition from Amazon’s satellite internet service and heavy spending on mobile connectivity could affect profits, even if user growth remains strong. Indeed, SpaceX has significantly lowered prices, with plans now starting at around $50 per month in the U.S. and even lower in other regions. In addition, the company has used marketing and free equipment in some areas to attract more users.
What Is the Prediction for TSLA Stock?
When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSLA stock based on 13 Buys, 12 Holds, and five Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $410.21 per share implies 10.1% upside potential.
