Sirius Close to 2 Million Subscribers; Revenue and Losses Are Up

Sirius Close to 2 Million Subscribers; Revenue and Losses Are Up
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Sirius says it had more than 1.8 million subscribers as of June 30, and predicts it will have 3 million customers by year-end. Previously, it had predicted a subscribership of about 2.7 million.
During the second quarter, Sirius added about 245,000 net subscribers through its retail channels, compared to 198,500 retail net additions in the first quarter. The company added 122,000 subscribers from its automotive OEM channel, compared to 108,000 in the previous quarter.
The company cites strong retail and OEM distribution channels for subscriber growth and the expectation of strong consumer demand for NFL, Martha Stewart and Howard Stern.
Rival XM closed out Q2 with 4.4 million subscribers.
Meanwhile, Sirius also reported revenue of $52.2 million and a net loss of $177.5 million for the quarter. That compares to revenue of $13.2 million and a net loss of $136.8 million for the same period a year ago.
Average monthly churn during the second quarter was 1.4 percent.
The company reported per-subscriber acquisition costs of $160 compared to $234 a year ago.

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