SIRIUS Exceeds 8.3 Million Subscribers
- 2007 Net Subscriber Additions of Approximately 2.3 Million - Company to Report Positive Free Cash Flow for the Fourth Quarter of 2007
NEW YORK, Jan 03, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- SIRIUS Satellite Radio (Nasdaq: SIRI) today announced that it ended 2007 with 8,321,785 subscribers, up from the company's 2006 ending subscriber base of 6,024,555. During 2007, SIRIUS added approximately 2.3 million net subscriber additions.
"SIRIUS' subscriber base increased 38% in 2007, and our gross subscriber additions in 2007 were the highest in the history of satellite radio," said Mel Karmazin, CEO for SIRIUS. "Our full year monthly subscriber self-pay churn rate was 1.6% and all-in churn was 2.2%, consistent with the low end of our guidance. Based upon preliminary financial data, we expect to report significantly greater positive free cash flow in the fourth quarter of 2007 than the company reported in the fourth quarter of 2006."
SIRIUS plans to release full year 2007 financial results and 2008 guidance in February 2008.
SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NASCAR and NBA, and broadcasts live play-by-play games of the NFL and NBA, as well as live NASCAR races. All SIRIUS programming is available for a monthly subscription fee of only $12.95. SIRIUS also offers an Internet-only radio service as well as SIRIUS Backseat TV(TM), a live in-vehicle rear seat entertainment service.
Click on www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.
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, 2006 filed with the Securities and Exchange Commission. Among the significant factors that could cause our actual results to differ materially from those expressed are: our pending merger with XM Satellite Radio Holdings, Inc. ("XM"), including related uncertainties and risks and the impact on our business if the merger is not completed; any events which affect the useful life of our satellites; our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming providers; and our competitive position versus other audio entertainment providers.
G-SIRI Media Contact: Patrick Reilly SIRIUS 212 901 6646 email@example.com Analyst Contact: Paul Blalock SIRIUS 212 584 5174 firstname.lastname@example.org Hooper Stevens SIRIUS 212 901 6718 email@example.com
SOURCE SIRIUS Satellite Radio
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