Thursday, April 17, 2014
Advertisement:
What is RSS/XML?
Subscribe to FMQB News.

Karmazin: Sirius XM Will Be Profitable
October 14, 2008

Sirius XM Radio CEO Mel Karmazin was the keynote speaker at this morning's Media & Money Conference, telling attendees that the merged satcaster has a bright future ahead. "We're probably one of the top 25 media companies today," Karmazin said, according to CNet. "I think it's very clear that we will be the most successful company in the audio entertainment industry. I know certainly, as ranked by revenue, we'll be there soon. Now we just need to grow our free cash flow and demonstrate that."

As for Sirius XM's chances in the current economic climate, Karmazin noted, "You need to make money, and in this particular environment, with Wall Street being what it is today, I think the companies that get rewarded today are companies that have an awful lot of cash flow, that make a great balance sheet. And that's not us today."

He said that the satcaster's 19.5 million subscribers make it the second-largest subscription-based media company, after Comcast. The satcaster CEO also boasted that Sirius XM is also the second "most successful company in the audio entertainment industry," after Clear Channel.

Karmazin was also optimistic about the future of satellite radio in automobiles. He hypothesized that "[what if] in 2009 there were only 12 million cars sold. That could happen, but no one has forecast that number as low. Of the 12 million, 6 million will leave the assembly line with satellite radio installed. So that would get us 6 million gross adds, and then there's a conversion rate. About 50 percent of those people choose to keep satellite radio...That would mean we're going to add about 3 million new subscribers just from that OEM platform."

As for the proposed legislation forcing the addition of HD Radio in cars alongside satellite, Karmazin said, "The consumer ought to decide. The government shouldnít be requiring HD Radio just because the content is not compelling enough on its own to get people to buy these radios."




 
Breaking News
BIA/Kelsey Says "The Internet Radio Revolution Has Arrived"
In Brief - April 16, 2014
FMQB FYI... Links You Should Know About
April 15, 2014
Alan Chartrand Named Market President For CCM+E-Boston
CBS Radio New York SVP Market Manager Don Bouloukos To Retire
In Brief - April 15, 2014
April 14, 2014
CCM+E Research Report: The Power of Personality
In Brief - April 14, 2014
April 11, 2014
The Week In Review: 4/7-4/11
eQB NOW
Major Labels Sue Megaupload
In Brief - April 11, 2014
FMQB FYI... Links You Should Know About
April 10, 2014
BIA/Kelsey Predicts Continued Mobile Growth
Radio Disney & Dees Entertainment Announce Partnership
In Brief - April 10, 2014
April 9, 2014
Report: Apple Considering Retooling iTunes
In Brief - April 9, 2014
April 8, 2014
SNL Kagan Releases Report On Q1 Radio Station Sales
UMG Acquires Eagle Rock Entertainment
Azoff MSG Entertainment Acquires 50% Of Burns Entertainment
Report: "Phone Calls Are The New Click"
HD Radio Technology Ramping Up In Canada
Cumulus Unveils NASH Campus
Music News
AC/DC Will "Continue To Make Music"
Frozen Soundtrack Still Rock Solid In Sales
Quick Hits: Miley Cyrus, Jay Z & Beyonce, Made In America festival, Paul McCartney, The Who, Golden Gods Awards
Is AC/DC Really Retiring?
Quick Hits: Nirvana, Imagine Dragons, 2 Chainz, Muse, The Rolling Stones
Coachella Boasts Star-Studded Cameos In Weekend One
Quick Hits: Ed Sheeran, Lana Del Rey, Smashing Pumpkins, Janelle MonŠe & Kimbra
The Week In Review: 4/7-4/11
Nirvana, KISS & More Enter Rock Hall Of Fame
Demi Lovato and Jason Derulo To Stream Live Performances
Quick Hits: Capital Cities, Billboard Music Awards, Drake
Linkin Park Ready To Rock With The Hunting Party
Quick Hits: Nirvana, Katy Perry, Madonna, Smashing Pumpkins, Quebec City Summer Fest
Aerosmith & Slash Will "Let Rock Rule"
Frozen Stays At #1, RIAA Releases Gold & Platinum Certifications
FMQB NOW

Nick Petropoulos
Glassnote Entertainment
Group

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!