SUMMARYWhile satellite cost models are pervasive throughout the aerospace industry, revenue models or utility models of space systems are quasi-inexistent. This situation perhaps conveys the false impression that satellites are either cost sinks or expensive artefacts whose value or utility profile over their design lifetime is difficult to quantify. In this paper, we propose that satellites, like any other complex engineering systems, should be perceived as value delivery artefacts, and the value delivered, or the flow of service that the spacecraft delivers over its design lifetime, deserves as much effort to quantify as the system's cost. To this effect, we build, in the case of a GEO communications satellite, revenue models based on (1) statistical analyses of spacecraft loading dynamics and (2) historical trends of market prices for the communications services provided. Results and discussions presented here should prove useful to satellite operators and industry observers.