Sirius-XM dramatically raises forecasts

Pay-radio operator SiriusXM says it now expects around 1.45 million net new subscribers this year, up from its previous forecast of 1.25 million. This means that its target overall revenues will be about $4.1 billion (up from $3.8 billion), and free cashflow of some $1.1 billion.

“SiriusXM’s subscriber growth is tracking ahead of our prior expectations.  The company is executing extremely well, and with this summer’s strong new car sales, we now expect to comfortably exceed our previous subscriber target,” said Jim Meyer, CEO, SiriusXM.

This move again demonstrates that SiriusXM is increasingly mainstream, and that the pre-owned market of vehicles, many with Sirius or XM receivers installed, is also helping boost subscriber numbers.

Earlier this week the broadcaster added a Barbra Streisland channel to add to its line-up.

Liberty Media owns 49.5 per cent of the operation.

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