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Subscriber Values
For the first time in years, several ISPs reported declining subscriber counts. In other news, WorldGate obfuscated its numbers by counting some of them more than once, and Prodigy and High Speed Access are being bought out by a telco and a cable company, respectively.
| [November 15, 2001] |
 |
We list public companies only and do not include ISPs that are part of much larger firm, like MSN, for example. Current subscriber counts are derived from corporate reports and ISP-Planet's ISP Rankings.
WSRN.com is the source for market data. Market capitalization data is as of market close on November 14, 2001.
History
In response to readers' requests, we now provide historical data for the subscriber
values here.
Transaction data
Third
party subscriber value research from MCG Capital Corporation averages the
ISPs that MCG bought and sold last year. Revenue per subscriber per month is
particularly interesting data.
Note, however, that the rate of ISP deals is declining drastically.
|
ISP Subscriber Value:
$1,093 |
||||
|
Stock Symbol |
ISP |
Value per subscriber |
Market Cap |
Number of subscribers |
|---|---|---|---|---|
|
|
||||
|
[AOL] |
AOL |
$4,928 |
$169,531 |
34,400,000 |
|
[ELNK] |
Earthlink |
$408 |
$1,958 |
4,800,000 |
|
[UNTD] |
United Online |
$62 |
$78 |
884,000 |
|
[LOAX] |
Log On America |
$47 |
$1.4 |
30,000 |
|
[GEEK] |
Internet America |
$21 |
$3.1 |
148,000 |
|
AOL subscriber
numbers include RoadRunner and CompuServe. Note that CompuServe appears to have
transferred over
1 million subscribers to AOL, but our total number for AOL has declined by exactly
1 million. Juno and
NetZero have merged
into United Online. We report only paying subscribers for the merged company Prodigy has been bought out by SBC. EarthLink includes 172,000 webhosting accounts in its subscriber numbers. Log On America
will report results after market close on November 15, 2001, and its numbers
will be updated then. ISP subscriber values without AOL would average $134 per subscriber.
|
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|
Cable ISP Subscriber Value: $501 |
||||
|
Stock Symbol |
ISP |
Value per subscriber |
Market Cap |
Number of subscribers |
|
|
||||
|
[RCNC]
|
RCN
|
$873
|
$427
|
489,291
|
|
[HSAC] |
High Speed Access |
$130 |
$26 |
200,000 |
|
RCN subscriber numbers include subscribers to the StarPower joint venture (a joint venture with Pepco Communications, L.L.C., a utility's subsidiary). RCN's subscriber totals dropped, and only 104,359 of the total are high-speed—the rest are dialup customers—but the broadband business increased from 90,225 subscribers in the previous quarter. RCN's market capitalization rose dramatically because it retired a significant amount of debt. High Speed Access reported a dramatic increase in subscribers, but is selling 95 percent of its infrastrcture to cable company Charter Communications. WorldGate stopped reporting subscriber numbers and has been removed. It is now reporting total "revenue generating units" (RGUs), a device that allows it to count some subscribers more than once. The company provides television set-top boxes and claims that its product is faster than 10 Mbps cable Internet. @Home filed for bankruptcy.
|
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|
Mobile Wireless ISP Subscriber Value: $318 |
||||
|
Stock Symbol |
ISP |
Value per subscriber |
Market Cap |
Number of subscribers |
|
|
||||
|
[GOAM] |
GoAmerica |
$459 |
$49.8 |
108,446 |
|
[MTNT] |
Motient |
$177 |
$18 |
101,923 |
We sharply reduced our number of subscribers for Motient when we learned that only 101,923 out of its 270,818 subscribers subscribe to wireless e-mail services. The others subscribe to maritime, field service, telemetry, transportation, and other Motient services.
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