Work in progress. Talk about a potentially Pyrrhic war … XM and Sirius seem to be vying for who can spend the most money via marketing and programming to acquire customers who still have a hard time telling the two apart. (Cheat sheet: Sirius has Stern and the NFL; XM has Oprah and MLB.) Ok, mini-rant over. Back to our regularly scheduled earnings.
Sirius reported a net loss of $311.4 million, or 23 cents per share, for 4Q05 compared to a loss of $261.8 million, or 21 cents a share, in the same quarter last year. Despite the wider loss, becoming the home of Howard Stern is paying off for Sirius in the way execs envisioned when the deal was announced a year ago. Revenue rose to $80 million compared with $25.2 million in 4Q04. From the release:
– Sirius picked up 1,142,640 net subs in 4Q05, a 138-percent gain over the same quarter last year. “The best quarterly gain in the company’s history.”
– Sirius closed the year with 3,316,560 subs, up 190 percent for the year on record net sub adds of 2,173,302.
– Sirius won the sat radio sub wars in 4Q05, as expected, with 56 percent for the quarter compared to 45 percent for the year.
Earnings release | Webcast (archived)
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