Worldspace To Seek More Strategic Alliances In India
By Nikhil Pahwa - Mon 11 Feb 2008 10:58 PM PST
Satellite radio broadcaster Worldspace (NSDQ: WRSP) bet heavily on the music-crazy India - they notched up 164,000 paid subscribers - but continued to make losses. The proliferation of free FM radio channels didn’t help, neither does the fact that the company couldn’t offer Worldspace to consumers on the move (cars and mobile phones), unlike FM channels. The Financial Express has an interview with CMO Harshad Jain, and it’s worth a read, even though Jain avoids directly answering some of the questions. Metro cities, particularly Bangalore, have been key for Worldspace, and the company intends to focus on the top 10 cities in 2008. Last year, Worldspace had tied up with MSN for streaming their content online, and Jain says that they will seek more such strategic alliances in 2008.
Earlier last month, Worldpsace had secured a financing facility for up to $40 million for its European expansion; a definite change in strategy to focus more on European markets like Italy. More on that here.
Posted in: Music
