Sirius XM: Our Christmas Will Suck (SIRI)

Dan Frommer | November 11, 2008 9:30 AM

How bad will this Christmas be for Sirius XM? Really bad.

The satellite radio company expects to sign up 200,000 net subscribers in Q4, what's supposed to be its busiest quarter.

That's almost a third fewer than the 344,000 it signed up in Q3.
And it represents 80% slower growth over Q4 2007, when Sirius and XM combined to sign up 1.1 million net subscribers.

What's to blame? The crappy economy and terrible car sales -- where Sirius XM gets most of its new subscribers. (Meanwhile, we bet that won't stop Apple from selling another 2-3 million or so iPhones in the U.S. this quarter, all of which are capable of connecting to free Internet radio stations.)

Bigger question: If Mel Karmazin only expects to sign up 200,000 subs in what's supposed to be his best quarter, and things show no sign of improving in the next several months, how the heck is Sirius (SIRI) going to hit its measly growth target of 1.5 million subscribers in 2009?

11 Comments

Boots said:

Nov. 11, 9:54 AM

Dan Frommer, you are an ass hole!

Skawt said:

Nov. 11, 10:39 AM

Why pay for XM/SIRI when Pandora on my iPhone is free for now! Plus I don't have to put up with some annoying Jocky.

billjohnson said:

Nov. 11, 8:29 PM

SIRI is on the verge of a major come back, atleast in terms of current share prices. They have increased membership at the a bad time across the board, a good sign. Creativity is in play behind the scenes and at .25, a steal. Load up now, for tomorrow will be a very bright day, just be careful not to take profits too soon, as within the month one could double it!

Siriusly Sux said:

Nov. 12, 2:31 AM

This is one stock that is NOT coming back. I can't believe people are even still investing in it, @ 25 cents it still has an 800million market cap. And yet they just lost 5 Billion, oops!

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SIRIUSXMGUY said:

Nov. 12, 9:59 AM

YOU ARE A LIER.. MEL NEVER SAID X-MASS WILL SUCK IN CONFRANCE CALL HE SAID CAR SALES SUCK WITH OEM SUB RATES... YOU ARE A LIER AND HAVE A MISSLEADING ARTICLE..AND THEY DID NOT LOSE 4.8 BILL.. THATS A GOOD FAITH CONVERSION WHEN THEY MERGED IN DIVERANCE IN SHARE PRICE OF XM AND SIRIUS NOT A LOSS .. THEY HAD A 16% INCREASE IN REV AND WAS -9 MILL EBIDA VS. -104 EBIDA LAST YEAR .. YOU NEED TO EDUCATE YOUR SELF.. LIER

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Nov. 12, 5:35 PM

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