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Sirius Radio Passes 4-M Subscribers |
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NEW YORK, March 21, 2006/Satnews Daily/ ¾ Sirius Satellite Radio (NASDAQ:SIRI) announced on Monday that it recently surpassed 4 million subscribers nationwide.
Sirius added about 700,000 more subscribers in less than three months after it ended 2005 with 3,316,560 subscribers.
Sirius’ yearend total subscribers reflected a 190 percent increase in total subscribers for the year and record net subscriber additions of 2,173,302. For the fourth quarter alone, the company said it added 1,142,640 net subscribers, leading rival XM Satellite Radio in terms of net satellite radio subscriber additions for the quarter.
Sirius has reported a full-year 2005 revenue of $242.2 million reflecting a 262 percent increase from $66.9 million in 2004. But the company also posted a wider $311.4 million quarterly loss and $863.0 million full year loss on increased marketing costs.
Mel Karmazin, CEO of Sirius, said last month it is targeting to more than double its subscriber base in 2006 to over 6 millions subscribers.
In contrast, XM had more than 6 million subscribers as of end of 2005. XM said it added more than 2.7 million net subscribers in 2005. But like Sirius, XM's losses also soared to $268.3 million in the fourth quarter on higher costs for marketing and acquiring subscribers.
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