Sirius Satellite Radio Raises 2005 Subscriber Estimates

Authored by Mark Hefflinger on August 2, 2005 - 6:41am.

New York -- Sirius Satellite Radio has announced that it expects to add 300,000 more subscribers by the end of the year than previously anticipated. Sirius, which added 366,000 subscribers last quarter to increase its total to 1.81 million, now says it expects to finish the year with 3 million subscribers, up from previous estimates of 2.7 million. By comparison, rival XM Satellite Radio currently has 4.4 million subscribers and expects to have 6 million by year's end. Sirius, which is preparing to launch shows from such notable personalities as Howard Stern and Martha Stewart, reported $52.2 million in revenue last quarter, quadruple the amount of a year ago, but also a net loss of $177.5 million. The company said that it expects to turn cash-flow positive in late 2006. http://biz.yahoo.com/prnews/050802/nytu049.html
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