Sirius XM’s “2.0” service will use Wi-Fi, Bluetooth and the Internet to “create exciting complements” to the service, as well as more channels, Operations and Sales President James Meyer said.
TWICE magazine reported today on emerging details of the Sirius XM plan, to be rolled out in the fourth quarter. The 2.0 service promises more bandwidth and more channels, available at first only through two new aftermarket transportable radios.
The company held a conference call with investors to report second-quarter results.
The satellite firm provided more details about Hispanic content on the 2.0 service. It will include a mix of Spanish and English content, commercial-free music, news and sports. TWICE quoted the company as claiming that the expansion will enable it to deliver 50 percent more content than all the Spanish radio stations in Los Angeles.
The 2.0 service will add new music and comedy channels and replay and time-shift functions, as some satellite radio tuners now offer.
Sirius XM reported a net profit for the quarter and first half. First-half revenues were up 6.8% to $1.26 billion. Revenues could climb faster now that the Federal Communications Commission has allowed rate caps to expire, TWICE reported.
The subscriber base hit a record 21.02 million at the end of the half.
Karmazin also said that reactivating satellite radios in used cars will be “a very significant catalyst for growth.”