Sirius-XM’s record numbers
July 10, 2012
Pay-radio operator Sirius-XM added more than 600,000 net new subscribers in the quarter-year to June 30th, taking their overall subscriber total to an impressive 22.9 million.
The numbers were some 38 per cent up on the same Q2 period last year (452,147) and means that the radio company has now added more than 1 million net new subs this year to date.
CEO Mel Karmazin told analysts that Sirius-XM was upgrading its official guidance to reflect this extra growth. Sirius-XM now expects subs growth this year to be around 1.6 million, and revenues to get close to $3.4 billion for the year.
“SiriusXM continues to demonstrate robust growth and strong operating execution despite a challenging economy. Our second quarter subscriber gains mark a record quarter of net additions since the merger of Sirius and XM in July 2008,” said Karmazin. “While we continue to be conservative in the face of a weak US economic outlook, customers continue to embrace our unparalleled programming lineup, allowing us to raise subscriber guidance for the second time this year,” Karmazin added.