As the EU and European space companies build up their muscles, they're not going to be able to catch SpaceX (let alone all of American business and military) all at once. Basically, by being farther away, a satellite gets a wider coverage of a bigger slice of our planet. This is a group set up for this specific purpose comprised of SES, Eutelsat, and Hispasat, all European space companies. The whole project is funded with government contracts, split between the EU itself and individual member states, per the European Space Agency. That right there is one of the reasons America has had an easier time going to space than Europe: On the continent, everything is a giant group project.