twice connect
careers

Satellite Radio Expands Subscriber Base Again

10/13/2010 09:29:15 AM Eastern
New York - Sirius XM expanded its subscriber base for the fifth consecutive quarter during the three-month period ending September, adding more net new subscribers than it did during the year-ago period but fewer than it did in the second quarter.

The company also reported year-over-year and sequential gains in the conversion rate from a trial subscription included in the sale of a new vehicle to a self-pay subscription

 In the third quarter, the satellite-radio company added 334,727 net new subscribers, up from a year-ago addition of 102,295 subscribers but down from the second quarter's 583,249. First-quarter nets adds were 171,441.

 For the three quarters ending September, Sirius XM added 1,089,417 net new subscribers, compared with a year-ago three-quarter net subscriber loss of 488,126. The total subscriber base reached a record 19,862,175 subscribers at the end of September for gain of more than 1.3 million compared with September 2009.

 The company forecasts it will end the year with a subscriber base of 20.1 million, up about 1.3  million from the end of 2009, which marked satellite radio's first-ever subscriber-base contraction. The subscriber base shrank 1.2 percent in 2009.

 The company will break out third-quarter net adds by retail and OEM channel when it issues its third-quarter financial report in November.

 In reporting conversion rates from a trial subscription to a self-pay subscription, the company said the rates improved in the third quarter on both a year-over-year and sequential basis. The third-quarter conversion rate hit 48.1 percent, up from a year-ago 46.2 percent and up from the second quarter's 46.7 percent, which in turn was up from a year-ago 44.3 percent.
Want to read more stories like this?
Get our Free Newsletter Here!

Curated By Logo