Who Says Satellite Radio is Dying?
Sirius XM Adds 257,000 4th Quarter Subscribers
(UPDATED) A poor economy and competition from free internet radio did not stop Sirius XM Radio from adding 257,000 net subscribers in the 4th quarter of 2009. The service. ended 2009 with 18.8 million radio subscribers. The company also reported that it had $100 million in free cash flow last year after negative free cash flow of $552 million in 2008.
“Improvements in automotive sales, conversion rates and better than anticipated self-pay churn suggest that the outlook for the auto sector and the effects of the economy on our business are beginning to improve," said CEO Mel Karmazin. The conversion rate to paid subscriptions from trials included in car sales was 46.4% up from 44.2% in 4Q 2008.
