Sirius Announces Q2 Numbers, Howard Stern To Heavily Promote Satcaster This Fall
August 1, 2006

Sirius has announced its second quarter fiscal results, with an increase in revenue and subscriptions, but also wider net loss. For the quarter, revenue almost tripled from 2005's Q2, reaching just over $150 million. Subscriptions are also up, with approximately 4.7 million subscribers currently, 158 percent more than a year ago. During the quarter, Sirius added 600,460 new subscribers. However, Bank Of America analyst Jonathan Jacoby notes that up to six percent of subscriptions counted by Sirius are actually in unsold vehicles at car dealerships around the country.

The satcaster also saw its net loss for the quarter increase to $237.8 million from $177.5 million in 2005's second quarter. Despite the loss, Sirius has raised its financial outlook for 2006 to $615 million in revenue and now projects to have 6.3 million subscribers at year's end.

"Continued strong demand for Sirius' products and programming gives us confidence to increase our revenue and subscriber guidance," said CEO Mel Karmazin. "We continue to be excited about the growth prospects for satellite radio and remain pleased with our solid execution as we approach positive free cash flow."

During Karmazin's conference call this morning, he said that the company will utlize its biggest star, Howard Stern, in "an aggressive campaign in the fourth quarter" of 2006. Stern was of course, unable to directly shill for the satcaster much of last year, since he was still working for CBS Radio.

Karmazin also revealed that a new "personal live satellite radio product" is set to debut soon. The handheld device, nicknamed Stiletto, has been in beta testing and Karmazin said that it will be on-sale "by the end of the summer."

Also during the conference call, Sirius President of Operations and Sales James Meyer added that the satcaster is "expected to have greater clarity from the FCC shortly" over its ongoing regulatory issues, according to Reuters.




 
Breaking News
WKTU/New York's KTUphoria 2017 Set To Heat Up Summer
Bender Extends Morning Show Agreement With KBKS/Seattle
KDGE/Dallas Names Leigh Ann Adam As New Morning Drive Host
March 28, 2016
BIA/Kelsey: Digital Revenues for U.S. Radio Continue to Rise
Jeff Lyons Joins Cumulus As Promotions/Marketing Director for Appleton-Oshkosh, WI
March 27, 2017
Dennis Reese Named SVP/Promotion At RCA Nashville
Cumulus Media Brings Hot AC To Savannah, GA Launches WZAT (102.1 The Sound)
In Brief - March 27, 2017
March 24, 2017
Ryan Seacrest Announces KIIS FM's Wango Tango 2017 Lineup
WMGC (105.1 The Bounce)/Detroit Adds “Big Boy” To Mornings
107.1 The BOSS/New Jersey Announce Air Talent Line-Up
March 23, 2017
iHeartRadio Surpasses 100 Million Users
Westwood One Promotes Mark Wildman to EVP/Strategic Partnerships
March 23, 2017
iHeartMedia Oklahoma City Names JJ Ryan PD For KJYO & KXXY
Entercom Names Richard J. Schmaeling EVP & CFO
Doug Gottlieb Joins FOX Sports Radio & FS1
March 21, 2017
Beasley Broadcast Group Reports 4th Quarter and Full Year 2016 Results
Chip Arledge Appointed OM For Cumulus Media Shreveport/Bossier City, LA
KXQQ/Las Vegas Names Natalia Hernandez As New Midday Personality
In Brief - March 21, 2017
March 17, 2017
Cumulus Reports Results for Fourth Quarter and Full Year 2016
Entercom Austin To Move 96.3 FM RnB To 95.9 FM
March 16, 2017
Music News
Eagles & Fleetwood Mac To Headline The Classic
Quick Hits: Rock & Roll Hall Of Fame, Harry Styles, Lana Del Ray
Drake's More Life Sets Billboard 200 Streaming Record
Quick Hits: Halsey, Snoop Dogg / 2Pac, Pitbull / Wrestlemania, Paul McCartney, Phoenix, Matchbox Twenty & Counting Crows
Quick Hits: Kendrick Lamar, Iggy Azalea, Vans Warper Tour
Quick Hits: Gorillaz, Kaaboo Festival, March Madness
Chance the Rapper, The Killers, Muse & Arcade Fire Headlining Lollapalooza
QuickHits: Ed Sheeran, Chuck Berry, The Decemberists
QuickHits: NIN, Missy Elliot, Frank Ocean, Pitbull, Enrique Iglesias, Sublime
Rock Pioneer Chuck Berry Passes Away
The Entertainment World Remembers Chuck Berry
Ed Sheeran Spends Second Week Atop Billboard 200
QuickHits: Drake, James Blunt, Spoon, Bob Dylan
Quick Hits: Coldplay. BET Experience, Weezer
Quick Hits: The Chainsmokers, Pitbull, Ohana Music Festival, Arroyo Seco Weekend, Feist
FMQB NOW

Sam Milkman, EVP
Coleman Insights

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!