Sirius-XM sees record August
September 5, 2013
By Chris Forrester
Satellite pay-radio service Sirius-XM is many weeks away from declaring its Q3 numbers, but the signs look good following on from record US new vehicle registrations for August.
New auto sales touched 1.5 million in August, although following some dismal sales in recent years. It also suggests to observers that the US could shift 16 million cars this year, another record for recent times (the best since 2007).
All his plays straight into Sirius-XM’s subscriber base given that the majority of these vehicles are sold with a ‘free’ subscription to the pay-radio operator. Analysts are now expecting Sirius-XM to again post record subs numbers in terms of gross additions, as well as net new additions.
Sirius-XM’s Q2 saw them add 715,000 net new subs, taking the total to 25.1 million.