NEW YORK – April 30, 2004 – SIRIUS Satellite Radio (NASDAQ: SIRI), known for delivering the very best in commercial-free music and premium sports programming to cars, homes and boats across the country, today announced that its retail market share rose to 44 percent in March, according to data compiled by market information company The NPD Group.
According to the data, during March over 32,000 SIRIUS satellite radios were sold in mobile electronics retail stores, a 110 percent increase in sales from the same month last year, and a 38 percent increase over sales figures for February of this year.
“We continue to be very pleased with our progress in the retail marketplace,” said Joseph P. Clayton, President and CEO of SIRIUS. “More people are hearing about the benefits of satellite radio, and more are choosing SIRIUS because of our premium programming. In addition to our 100 percent commercial-free music, we offer a vast selection of news, information and entertainment, including the best play-by-play sports coverage in satellite radio with the NBA, NHL and NFL. This comprehensive SIRIUS entertainment programming is making a strong impression on consumers around the country, and is a very positive indicator of our expected growth this year.”
SIRIUS continues to make inroads into the automotive market with more factory and dealer installation programs from its exclusive partners, DaimlerChrysler, Ford, BMW, Lincoln-Mercury, Mazda and Mercedes-Benz, and other car manufacturers such as Audi, Infiniti, Nissan and Volkswagen.
Earlier this month, DaimlerChrysler announced that SIRIUS would be available as a factory-installed option on eleven 2005 model year vehicle lines this year.
SIRIUS also continues to benefit from its strong cash position, having ended the first quarter of 2004 with over $700 million in cash and very low debt.
Beginning in late May, SIRIUS music will be available to a majority of the nine million subscribers of EchoStar’s DISH Network satellite television service.
Wal-Mart will also be getting SIRIUS in May, when they will be offering a SIRIUS portable Plug & Play product and Boombox.
Later this summer, SIRIUS will be available in the seven thousand RadioShack stores across the country, in time for the beginning of the NFL season, which will be broadcast on SIRIUS, as part of its far-reaching agreement with the NFL.
SIRIUS provides listeners with over 110 channels of the best commercial-free music, sports, information and entertainment, with digital quality sound coast-to-coast, broadcast daily from New York City, Los Angeles, Nashville, New Orleans, Houston and Daytona. SIRIUS offers over 60, 100% commercial-free, music channels featuring multiple categories of Pop, Rock, Country, Hip-Hop, R&B, Dance, Jazz, Classical and Latin music, along with more than 50 channels of world-class sports, news, talk entertainment, traffic and weather for a monthly subscription fee of only $12.95, with greater savings for upfront payments of multiple months or a year or more. SIRIUS also broadcasts live play-by-play games of the NHL, NBA and NFL, and is the official satellite radio partner of the NFL.
SIRIUS Satellite Radio products for the car, truck, home, RV and boat are manufactured by Alpine, Audiovox, Blaupunkt, Clarion, Eclipse, Jensen, JVC, Kenwood, Panasonic and U.S. Electronics, and can be purchased at major retailers including Best Buy, Car Toys, Circuit City, Good Guys, Sears, Tweeter and Ultimate Electronics, along with Wal-Mart, RadioShack and DISH Network outlets in mid-2004.
SIRIUS’ exclusive automotive partners, DaimlerChrysler, Ford and BMW, represent over 40% of new cars and light trucks sold annually in the United States. Automotive brands currently offering SIRIUS radios in select new car models include BMW, MINI, Chrysler, Dodge, Jeepâ, Nissan, Infiniti, Mazda, Audi, Ford, Lincoln-Mercury, Mercedes-Benz and Volkswagen. Automotive brands that have announced plans to offer SIRIUS radios in select models include Jaguar, Volvo, Land Rover and Aston Martin. In 2004, SIRIUS radios are expected to be available in approximately 80 different car models, with more than 50 of them factory programs. Also, Hertz currently offers SIRIUS in 29 vehicle models at 53 major locations around the country. In addition, Penske Companies – Penske Auto Group, United Auto Group and Penske Trucking – are offering SIRIUS radios as a factory installed option, where available, in their cars and trucks through their dealerships.
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.
Click on 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, 2003 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.