# Sirius Sets Subscriber Record



## Nick (Apr 23, 2002)

*SIRIUS added 2.7 million new subscribers in 2006*

Despite its ongoing merger talks with XM, Sirius on Tuesday reported solid results for the fourth quarter and full year of 2006. In 2006 the satellite radio broadcaster picked up the highest subscriber share in its history and achieved its first-ever positive cash flow quarter.

"In 2006, SIRIUS added 2.7 million new subscribers, an annual record for satellite radio, and captured 62 percent share of satellite radio subscriber growth," said Sirius CEO Mel Karmazin. "More importantly, Sirius achieved positive free cash flow in the fourth quarter 2006 -- four years after adding our first subscriber."

An 82 percent increase in subscribers since the end of 2005 pushed the company's base over six million for the first time, while revenues increased 163 percent to a record $637 million. Going forward -- merger or not -- Sirius execs expect to reach eight million subscribers and $1 billion in revenues by the end of this year.

"The fourth quarter marked the fifth consecutive quarter of satellite radio subscriber leadership for Sirius and a record 67 percent of satellite radio growth," Karmazin said. "We look forward to another year of strong growth in 2007, anticipating that we will approach $1 billion in total revenue. The pending merger with XM will offer unprecedented choice for consumers and create tremendous value for our shareholders."

www.mbc-thebridge.com - used with permission


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