SIRIUS Satellite Radio Ends 2003 With 261,061 Subscribers
772% Increase Over Previous Year Due to Heavy Holiday Sales
CES, LAS VEGAS & NEW YORK – January 7, 2004 – SIRIUS (NASDAQ: SIRI), known for delivering the very best in commercial-free music and premium sports entertainment to cars and homes across the country, today announced that it ended 2003 with 261,061 subscribers, up from approximately 30,000 subscribers at the end of 2002. This represents an increase of 772% over the year-ago figure. SIRIUS added over 100,000 subscribers in the fourth quarter of 2003 alone, due to increased sales at retail during the holiday season.
"Satellite radio was clearly one of the outstanding items at retail this holiday selling season," said Joseph P. Clayton, President and CEO, SIRIUS. "SIRIUS products sold nearly as fast as stores could get them on the shelves, and our new transportable Plug & Play products sold exceptionally well."
This holiday season marked the first time that SIRIUS had a full complement of products to offer, especially in the transportable Plug & Play category. The Plug & Play satellite radio products can be moved from the car to the home, boat or RV, with special docking kits that install easily. According to company officials, SIRIUS’ new Audiovox Plug & Play product was a best seller, and exceeded sales expectations in the retail market.
"During 2003, we not only refined our 100% commercial-free music offering, but we also added more sports to our line-up, which now includes the NBA, NHL and NFL," added Clayton. "SIRIUS is now the official satellite radio broadcaster of the NFL, and we’ll be broadcasting their games beginning next football season. We believe that our tremendous selection of music, news, sports and original programming firmly positions SIRIUS as the premium content provider in satellite radio, and we also believe that this is increasingly being recognized by consumers."
SIRIUS is the only satellite radio service bringing listeners more than 100 streams of the best music and sports coast-to-coast. SIRIUS offers 60 music streams with no commercials, along with over 40 world-class news and entertainment streams for a monthly subscription fee of only $12.95, with greater savings for upfront payments of multiple months or a year or more. SIRIUS is also the official satellite radio partner of the NFL. Stream Jockeys create and deliver uncompromised music in virtually every genre to our listeners 24 hours a day. Satellite radio products bringing SIRIUS to listeners in the car, truck, home, RV and boat are manufactured by Kenwood, Panasonic, Clarion and Audiovox, and are available at major retailers including Circuit City, Best Buy, Car Toys, Good Guys, Tweeter, Ultimate Electronics, Sears and Crutchfield. SIRIUS is the leading OEM satellite radio provider, with exclusive partnerships with DaimlerChrysler, Ford and BMW. Automotive brands currently offering SIRIUS radios in select new car models include BMW, MINI, Chrysler, Dodge, Jeep®, Nissan, Infiniti, Mazda, Audi, Ford and Lincoln-Mercury. Automotive brands that have announced plans to offer SIRIUS in select models include Mercedes-Benz, Jaguar, Volvo, Volkswagen, Land Rover and Aston Martin. Genmar Holdings, the world’s largest manufacturer of recreational boats, Formula Boats and Winnebago, the leading supplier of recreational vehicles and motor homes, also offer SIRIUS. Hertz currently offers SIRIUS in 29 vehicle models at 53 major locations around the country.
Click on www.sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area.
Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2002 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our results of operations are: our dependence upon third parties to manufacture, distribute, market and sell SIRIUS radios and components for those radios; the unproven market for our service; our competitive position and any events which affect the useful life of our satellites.