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SiriusXM Boosts Subscriber Forecast

New York - SiriusXM raised its year-end subscriber forecast for a second time this year, boosting projections to 1.8 million net new subscribers from a previously forecast 1.6 million. 10/10/2012 11:00:36 AM Eastern

New York - SiriusXM raised its year-end subscriber forecast for a second time this year, boosting projections to 1.8 million net new subscribers from a previously forecast 1.6 million.

Early this year, the company had forecast only 1.3 million net new subscribers.

The projected gain would be the best in the company’s history. In 2011, the company gained 1.7 million net new subscribers, which was up from 2010’s 1.42 million.

If the projections holds up, SiriusXM will end the year with 23.7 million subscribers. At the end of 2012, the subscriber base was 21.9 million, and at the end of 2010, it was 20.2 million.

At the end of the third quarter, the company added 445,921 net new subscribers to reach 23.37 million subscribers. That’s up 33.6 percent from the year-ago net gain of 333,683 net new subscribers and compares to a second-quarter 2012 gain of 622,000 net subscribers, up 38 percent from the year-ago period.

“These strong net additions produced our best third quarter since the merger and exceeded third quarter 2011 subscriber growth by 34 percent," said Mel Karmazin, SiriusXM's CEO. "With almost 1.5 million net subscribers already added in 2012 and continuing growth in auto sales, we will significantly exceed our previous guidance of 1.6 million, marking our third increase in subscriber guidance this year and putting us on track for record post-merger net additions."