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SiriusXM Posts 15% Gain In Q2 Net New Subscribers

New York – The number of net new SiriusXM subscribers grew 15 percent in the second quarter compared with the year-ago period, prompting the satellite-radio broadcaster to raise its full-year net new subscriber forecast to 1.5 million from a previously forecast 1.4 million.

The company attributed the gain in large part to growing new-car sales.

The quarter’s gain of 715,000 net new subscribers set a record for any quarter since Sirius and XM merged in mid-2008, and the performance reversed a slight first-quarter decline in net new subscribers.

The company’s subscriber base now stands at more than 25 million.

Separately, the company reiterated its existing 2013 forecast of 1.6 million self-pay net subscriber additions.

Though the company revised up its 2013 full-year new-subscriber forecast, the forecast of 1.5 million falls short of the company’s 2012 gain of 2 million net new subscribers and 2011’s gain of 1.7 million. The 2012 gain was the company’s best annual gain since 2007.

The 2013 forecast of 1.6 million self-pay net subscriber additions would also be down from 2012, when the company posted a 1.7 million gain.