[02-13-12] Satellite radio broadcaster Sirius XM<\/b> generated a 7 percent increase in 2011 full year revenues at $3 billion \u2013 a 7 percent increase compared to $2.82 billion in the same period last year, the company confirmed in its latest financial results issued Feb. 10.<\/p>\n
Sirius XM\u2019s adjusted EBITDA for the full year increased 17 percent to $731 million from $626 million in 2010. The broadcaster now has 21.9 million subscribers. Sirius XM CEO Mel Karmazin projected his company would add 1.3 million net subscribers in 2012.
\n \u201cWith auto sales expected to rise in 2012, and what appears to be only a modest increase in churn associated with our January price increase, we expect to grow our net new subscribers by roughly 1.3 million in 2012, continuing our strong multi-year track record of subscriber growth,\u201d Karmazin said in a statement.
\n The company said it ended the year with about $750 million in cash-on-hand and expects to end 2012 with about $1.5 billion.
\n Separately, Canadian Satellite Radio Holdings<\/b> subsidiary SiriusXM Canada<\/b> reported its 2012 first-quarter results with a 6.6 percent increase in revenue to $63.1 million despite posting a net loss of $3.4 million. The broadcaster reported a 2011 first quarter profit of $3.5 million.
\n Canadian Satellite Radio Holdings, which merged Canada\u2019s XM and Sirius firms last year, said its subscribers grew 12.1 percent to more than 2 million compared to 1.8 million in the same period last year. The company\u2019s self-pay subscribers \u2013 a term for customers who pay for the service out of their pocket, rather than through a promotional package \u2013 jumped 13.8 percent to 1.4 million. The Sirius XM service in the United States saw its self-pay subscribers rise 7 percent to 374,432.
\n SiriusXM Canada CEO Mark Redmond said it cost $54 to acquire each customer in the quarter, compared with $63 for each customer a year ago.
\n \u201cWe have only started to capitalize on the opportunities available to us as a merged company and are focused on further strengthening our financial results by adding subscribers, maintaining our existing subscribers and driving increased operating efficiency across the organization,\u201d Redmond said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
[02-13-12] Satellite radio broadcaster Sirius XM generated a 7 percent increase in 2011 full year revenues at $3 billion \u2013 a 7 percent increase compared to $2.82 billion in the same period last year, the company confirmed in its latest financial results issued Feb. 10. Sirius XM\u2019s adjusted EBITDA for the full year increased […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-83552","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/83552"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=83552"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/83552\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=83552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=83552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=83552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}