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Sirius XM Has A Successful Second Quarter

Posted by on July 7, 2010

AllAccess.com is reporting that Sirius XM has added 583,249 net subscribers in the second quarter of 2010. This has lead to the satellite radio company to end the second quarter with a record-high 19,527,448 subscribers. This is a huge increase of more than 1.1 million subscribers from June 30, 2009.

CEO Mel Karmazin states:

“Our subscriber results mark the best quarter of gross additions, deactivations and net additions since the merger of SIRIUS and XM in July 2008. The strong execution in both adding subscribers and retaining them resulted in our record-high 19.5 million subscriber milestone, despite continued economic uncertainty. The further improvement in our guidance reflects the attractiveness of satellite radio but maintains a cautious outlook for continued improvement in the economy.”

This is good news for a company that has definitely been struggling in the past few years. But as Karmazin says, they still need to take caution. With online radio coming to dashboards (and already available on smart phones with car adaptors) a struggling economy, and the possible exit of Howard Stern at the end of the year, SiriusXM definitely still has a lot of work ahead to ensure a longer future. But this report is definitely encouraging.

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Categorised in: Satellite Radio