Karmazin Criticizes Personalized Radio On SiriusXM Conference Call
November 2, 2012

On yesterday's third quarter earnings conference call, SiriusXM's outgoing CEO Mel Karmazin took a shot at personalized Internet radio services such as Pandora. Billboard.biz notes that Karmazin did not mention Pandora, or any other service, by name, but said that such companies are in a "race to the bottom in terms of business model." He continued, "those companies which can grow users and provide good customer experience usually have the worst business models." Karmazin added that to fix their business models, such companies require "a whole lot more commercials, and that means harming the customer's experience."

However, SiriusXM is moving ahead with its own personalized online music service, which it hopes to launch by the end of 2012. Karmazin said the satcaster is launching the service, "not because we think it's good business," but because their customers wanted it, according to Billboard.biz.

As reported yesterday, SiriusXM's revenue was up in the third quarter of the year by 14 percent to $867 million from Q3 2011's revenue of $763 million. However, net income fell from $104 million to $75 million, including a loss on extinguishment of debt of $107 million in the third quarter of 2012.  Adjusted EBITDA for the third quarter of 2012 was $245 million, up 24 percent from $197 million a year ago.

Karmazin announced last month that he will step down as CEO of SiriusXM, effective February 1, 2013.




 
Breaking News
CBS Radio Elevates Tracy Brandys To SVP/Market Manager & Director/Sales, Baltimore
WKST/Pittsburgh's Stuff A Bus Fills 57 Buses With Toys For Toys For Tots
Dan†Dalton†and Roc Nation Form Management Partnership
December 1, 2016
iHeartMedia Launches On-Demand Streaming Services
105.1 The Bounce/Detroit Announces On-Air Lineup
November 30, 2016
Alpha Media Names Ronnie Stanton VP/Programming
WNFZ/Knoxville Helping Fire Victims
November 29, 2016
Warner Music Group Names Ole Obermann Chief Digital Officer & EVP/Business Development
iHeartMedia Names Bob Neumann SVP/Programming For Savannah/Hilton Head
Nina L. Diaz Elevated To Head Of Unscripted For MTV & VH1
Broadcasters Foundation Of America To Honor Cox Media Groupís Bill Hoffman
November 28, 2016
Tony Martell, Founder of TJ Martell Foundation Passes Away at Age 90
Dayton Kane Appointed PD Of WOGB & WKRU/Green Bay
SportsRadio 94WIP, Phillies Extend Broadcast Rights Agreement
November 23, 2016
Pierre Robert Celebrates 35 Years at WMMR/Philadelphia
iHeartMedia Launches "Rewind 92.1" in Madison, WI
Kara Leigh to join The Tad & Melissa Show On Atlanta's B98.5
KDND-FM Morning Show To Collect Toys for Sierra Forever Families
November 22, 2016
iHeartMedia Names Derrick "DC" Cole SVP/Programming For Wilmington, DE
James Corden Named Host Of 59th Annual Grammy Awards
WROR/Boston Radio Veteran Wally Brine Is Set To Retire
November 21, 2016
Cumulus Media-New Orleans Promotes Knight To OM, Williams To APD At WRKN & WZRH
Cumulus Appoints Kevin Graham As PD for WBAP & KLIF/Dallas
Music News
Prince Documentary, Celebration on the Way in 2017
Quick Hits: Alessia Cara, Lady Gaga, Dead & Company
Quick Hits: J. Cole, Bon Jovi, Grouplove, Kid Cudi, ABC's Dick Clark's New Year's Rockin' Eve
Metallica Earn Sixth #1 Album on Billboard 200
Quick Hits: Taylor Swift, Rock On The Range, Kelly Clarkson
Quick Hits: Grammy Hall Of Fame, Soul Train Awards, Guns N' Roses
Justin Bieber and Drake Top 2016 American Music Awards
Quick Hits: Bruno Mars, Adele, The Weeknd, Chance The Rapper
Quick Hits: Kanye West, The Weeknd, Coldplay
Soul Singer Sharon Jones Dead at 60
Quick Hits: A Tribe Called Quest, Kanye West, Kesha
Quick Hits: Green Day, Justin Bieber, Bon Jovi
Bruno Mars Announces 24K Magic World Tour
Quick Hits: Adele, David Bowie, Rihanna, Lollapalooza, Dawes
Rock & Roll Legend Leon Russell Passes
FMQB NOW

Ross Mahoney, PD
KXTE, Las Vegas



Question Of
The Week

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!