SIRIUS ANNOUNCES EXCLUSIVE RECORDING PROGRAM
'WAGS' To Promote And Nurture Emerging Artists
CES, LAS VEGAS, NV -- January 8, 2003-- SIRIUS (NASDAQ: SIRI), the only satellite radio service broadcasting uncompromised coast-to-coast music and entertainment for your car and home, announced today the formation of its new unsigned recording artist program, WAGS Recordings (Working Artist Group at SIRIUS). The program is designed to nurture unsigned artists, expose emerging artists to listeners nationwide with airplay on SIRIUS, and create CDs featuring a variety of this new music.
As part of the new WAGS program, SIRIUS will record and produce unsigned artists in its state-of-the-art recording studios located in the heart of New York City. Select songs from these sessions will go into rotation on SIRIUS and CDs featuring these artists will be made available through www.SIRIUS.com, making SIRIUS a leading source for cutting-edge music.
"This program will benefit the record labels, artists, and our listeners. It reduces the financial risk associated with releasing new artists and gives the artists themselves a chance to demonstrate some traction in the marketplace. And our subscribers reap the benefits of hearing new music first on SIRIUS," said Larry Rebich, Vice President, Programming & Market Development.
"The biggest hurdles for an artist today are studio time and getting airplay. Now, with our WAGS program, SIRIUS can provide both," said SIRIUS' in-house composer/producer and architect of the program, Teddy Zambetti. "Our Stream Designers already have their fingers on the pulse of the music scene and are well-positioned to discover new musical talent and bring that new music to our listeners."
The mechanics of the program, from the discovery to distribution, will all take place under the umbrella of SIRIUS. That's because SIRIUS and its Stream Designers create all of the 60 commercial-free music streams on SIRIUS in-house. These Stream Designers are music experts and in many cases, recording artists, not traditional radio program directors. Working with the appropriate SIRIUS Stream Designer, the artist will record a CD in SIRIUS' studios. Additionally, a section of www.SIRIUS.com will be dedicated to WAGS in the future with artist info, photos, song lyrics, musician credits, and purchasing information. Every other week, record labels and music publishers will be kept up-to-date on these artists through SIRIUS Notes, the company's industry newsletter.
The company will locate the talent through a multitude of sources including music producers, musicians, the club circuit, music conventions, and Sirius-created contests.
SIRIUS is the only satellite radio service bringing listeners 100 streams of the best music and entertainment coast-to-coast. SIRIUS offers 60 music streams with no commercials, along with 40 world-class sports, news and entertainment streams for a monthly subscription fee of $12.95. Stream Designers 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, Audiovox and Jensen, and are available at major retailers including Circuit City, Best Buy, Sears, Good Guys, Tweeter, Ultimate Electronics and Crutchfield. SIRIUS is the leading OEM satellite radio provider, with exclusive partnerships with DaimlerChrysler, Ford and BMW. Automotive companies that have announced plans to offer SIRIUS radios in select new car models include Chrysler, Dodge, Jeep®, Ford, Lincoln, Mercury, Mazda, Land Rover, Jaguar, Volvo, Aston Martin, Nissan, Infiniti, BMW, MINI, Audi and Volkswagen.
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 Registration Statement on Form S-4 (File No. 333-101317) filed with the Securities and Exchange Commission on November 20, 2002. Among the key factors that have a direct bearing on our results of operations are: our need for substantial additional financing in the first half of this year; 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.