Sirius Revenue Up, Losses Narrowed in Q3 - Radio World

Sirius Revenue Up, Losses Narrowed in Q3

Sirius Satellite Radio reported increased revenue and a smaller loss in the third quarter of the year. Total revenue for the third quarter of 2007 increased to $241.8 million, up 45% from $167.1 million for same period a year ago.
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Sirius Satellite Radio reported increased revenue and a smaller loss in the third quarter of the year.

Total revenue for the third quarter of 2007 increased to $241.8 million, up 45% from $167.1 million for same period a year ago.

The subscriber acquisition costs per gross subscriber addition was $103 for the third quarter of 2007 compared to $114 for Q3 of last year. The monthly average churn rate was 2.1% for the quarter.

Sirius said its net loss was $120.1 million for the third quarter; that compares to a net loss of $162.9 million for third quarter 2006.

The satcaster ended the quarter with approximately 7.7 million subscribers and expects to end the year with more than 8 million paying customers.

Stockholder votes for both XM and Sirius on their proposed merger are slated for Nov. 13.

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