Sirius XM released guidance for the company covering the next five years, figures that included subscriber projections that were lower than estimates provided in early September. The satellite radio company provided a mixed outlook for its business, a situation it blamed on the challenging economy.
Sirius XM said it expects to end 2009 with about 20.6 million subscribers, down from a previous estimate of 21.5 million released in September. Sirius XM said current economic conditions, “particularly the dramatic and recent slowdown in auto sales, have negatively impacted subscriber growth for 2008 and 2009.”
As for a five-year outlook, Sirius XM said it expects to finish 2010 with an estimated 22.1 million customers and 28.4 million listeners in 2013. Sirius XM also said it expects 2009 revenue to total an estimated $2.7 billion, unchanged from an earlier estimate released two months ago by the satellite radio company.