Sirius XM Radio expects to end the year with about 20.1 million subscribers

Article by Christian A., on October 8, 2010

Sirius XM Radio anticipates that at the end of this year, it will have about 20.1 million subscribers to its pay radio service. This figure is a bit higher than its forecast given only two months ago.

For three straight quarters, Sirius XM has posted profits and its subscribers are steadily increasing. Sirius XM, which carries programs by Howard Stern and Oprah Winfrey as well as Major League Baseball, has previously experienced huge losses and has had to contend with doubts about its business model.

Sirius XM's performance is watched closely in the auto industry because the majority of its new subscribers are tied to new vehicle purchases.

The company has estimated that 55% of light vehicles sold in the US come with Sirius XM radios. CEO Mel Karmazin, a media industry veteran, made a presentation to investors last Friday. He reported that the company’s 2010 sales outlook was "optimistic" and that the adjusted revenue is expected to be close to $2.8 billion.

Last August, Karmazin revealed its second-quarter results and also raised its revenue estimate to $2.8 billion from $2.7 billion. Back then, Karmazin said that it had set a goal for 1.1 million net new subscribers for 2010, which is double its initial forecast.

However, Karmazin has again raised its forecast last Friday. He said that at the end of 2010, it will have 20.1 million subscribers -- an increase of 1.3 million subscribers over the 18.8 million it had at the end of 2009. [via autonews - sub. required]

Topics: sirius xm

If you liked the article, share on:

Comments

Recommended

Earlier this week, Nissan revealed a teaser of the new 2018 LEAF’s interior, giving us an idea of what the electric vehicle has to offer. The company released a video...
by - June 25, 2017
The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries