Search »

Sirius Lowers Subscriber Expectations

Sirius Satellite Radio has lowered its year-end subscriber forecast. The company had originally expected to have approximately 6.3 million subscribers by the end of the year, but is now saying it expects between 5.9 million and 6.1 million.

Even at the lower end of the expected range, the company will still add almost 20 percent more subscribers in 2006 than it did in 2005, according to Mel Karmazin, CEO of Sirius.

The guidance range represents total net subscriber additions of approximately 2.6 million to 2.8 million in 2006, or year-over-year subscriber growth of approximately 80 percent to 85 percent.

Sirius had actually raised subscriber expectations in August, from 6.2 million to 6.3 million. Rival XM, at the same time, had reduced its year-end expectations, to between 7.7 million and 8.2 million.