by Trevor Gill
Courtesy of SiriusXM.com
The Basics
Website: www.SiriusXm.com
Address
221 Avenue of the Americas #36
New York, NY 10020
Phone Number: (212) 584-5100
Social Media: Twitter Facebook Instagram Youtube
What is it?
Sirius XM Radio is one of the largest subscription media companies in the United States, providing commercial free satellite radio to subscribers who pay anywhere from $14.49 to $17.99 per month (depending on the package they choose).
Courtesy of IMDB.com
Sirius XM has 23.9 million subscribers. The service offers over 140 channels with content ranging from Howard Stern talk radio, to hits from Jimmy Buffett, to NASCAR and beyond. Subscribers can access content either built into their vehicles via satellite, on Sirius XM’s website, or on mobile applications available for Apple and Android powered devices. (1)
Courtesy of SiriusXM.com
James E. Meyer, Courtesy of satelliteradioplayground.com
Key People
James E. Meyer, Chief Executive Officer
James Meyer joined Sirius XM radio in May of 2004, and after former CEO Mel Karmazin stepped down from the position, Meyer took over as CEO on December 18th, 2012. Before becoming CEO, Meyer held the position of President of Operations and Sales. Said Meyer, “Sirius XM is a great business and I look forward to working with our talented management team to continue to deliver the best content and service to our subscribers, while enhancing value to our shareholders.” (2)
Scott Greenstein, President and Chief Content Officer
Scott Greenstein is in charge of programming and marketing for Sirius XM. Greenstein previously was a consultant to the company on contractual agreements negotiated with the National Football League. (3)
Dara Altman, Executive Vice President and Chief Administrative Officer
Altman was previously the Executive Vice President of Business and Legal Affairs for XM Satellite Radio, prior to the merger between Sirius and XM. (4)
What’s Going On Today?
Financial News
On February 5th Sirius XM released its annual financial report from 2012. The company reported that 2012 revenue was $3.4 billion, a 13% increase from 2011 revenue, which was $3.0 billion. Another positive for Sirius XM was that Net Income for 2012 was $3.5 billion, compared to $427 million in 2011. Net Income was higher than revenue for 2012 because of a $3 billion income tax benefit, and thanks to $130 million due to a loss on extinguishment of debt.
Sirius XM was also happy to announce that it added 2 million subscribers in 2012. That is the largest amount of added subscriptions since 2007 (before Sirius and XM merged).
Sirius XM predicts that 2013 revenues will exceed $3.7 billion. Also predicted is a total net subscriber addition of 1.4 million. (5)
On the negative side for Sirius XM, on Friday April 5th its stock (SIRI), dipped below $3 for the first time since late February. The stock dropped to $2.95, the lowest price so far in 2013. However on Monday, April 8th the stock closed at $3.04 per share, up from what was a down last week. (6)
The Competition
On April 2nd, A new study by The NPD Group suggest that streaming music is quickly gaining ground on traditional terrestrial radio, especially with the younger demographics (ages 13-35). The report, which looks at the fourth quarter of 2012, shows that in this 13-35 demographic, 23% of music is being heard on Internet radio, while 24% is still heard on traditional AM/FM radio. The report shows that just 5% of listeners in this age group listen to music via satellite radio.
Courtesy of NPD.com
Breaking down the 23% of Internet “streaming” radio usage, Pandora leads the way, taking up 39% of users time. In second is iHeartRadio, which accounts for 11% of usage amongst ages 13 and 35 in the 4th quarter of 2012. (7)
Courtesy of NPD.com
Apple
According to Paul Sloan of CNET.com Apple is in the works of signing deals with both Warner Music and Universal Music Group to allow Apple and iTunes to offer streaming content, similar to what Pandora offers. The new product is rumored to be called iRadio. This would add another huge source of competition for Sirius XM, especially if the Apple product is free (or cheaper than Sirius XM’s monthly rate). (8)
Courtesy of CNET.com
Current Programing
Super Bowl Coverage
Courtesy of twitter.com
Sirius XM Radio offered in-depth coverage of Superbowl 47, which included broadcasting the game in eight foreign languages, and airing Beyonce’s halftime performance live. In addition, they offered coverage all Superbowl week long with specials from SiriusXM NFL Radio, Mad Dog Radio, Maurice Jones-Drew, Jeff Foxworthy and more. Sirius XM also aired a limited-run, special New Orleans jazz Channel called “Radio New Orleans” from February 1st – 3rd. (9)
Town Hall Exclusive with Al Gore
Courtesy of biography.com
On Thursday, February 28th Sirius XM’s “Town Hall” series sat down with former Vice President Al Gore to discuss his new book “The Future: Six drivers of Social Change”. The special was hosted by Ari Rabin-Havt, who hosts The Agenda on Sirius XM, and allowed for audience members to ask Gore about a wide variety of topics. (10)
New 24/7 Entertainment Weekly Channel
On March 1st, Sirius XM announced that Entertainment Weekly would launch an all-new channel, Entertainment Weekly Radio, offering 24/7 coverage of all the latest news in the world of entertainment. The channel will offer shows hosted by Entertainment Weekly and EW.com editors, featuring news, interviews, opinions and more. (11)
New Addition to Mad Dog Radio
Courtesy of twitter.com
On March 4th, Sirius XM announced that Adam Schein has joined its all-sports Mad Dog Radio channel. Schein will host his own show, Schein on Sports. Schein previously worked for Sirius XM in 2004. He also currently works for SportsNet New York (SNY) and the CBS Sports Network. Prior to that Schein had worked at WFAN Radio in New York, and Fox Sports Radio.
Schein graduated from Syracuse University’s S.I. Newhouse School of Public Communications in 1999. (12)
More Live Coverage
NCAA Final 4
Sirius XM provided an array of live broadcasts from The NCAA Final Four in Atlanta, including coverage of the National Championship game. Shows such as Inside College Basketball, Tim Brando Show, and SiriusXM’s Final Four Roundtable all provided live coverage from Atlanta, from Thursday April 4th, to Tuesday April 9th. (13)
The Masters
Courtesy of espn.go.com
Sirius XM will offer live hole-by-hole coverage of the 2013 Masters on the PGA TOUR Radio Channel from the Augusta National Golf Club in Georgia. The Masters coverage will last the length of the tournament from Thursday April 11th, to Sunday April 14th. The channel will also offer a two-hour pre-Masters show before each day of the event, and Masters Review recapping each round. (14)
Sources
1. Sirius XM Corporate Website
3. Seth Greenstein Corporate Bio
6. This Week in Sirius XM Radio – The Motley Fool
7. NPD report on Radio Streaming Usage
8. CNET.com article by Paul Sloan
9. Sirius XM Press Release (on Superbowl coverage)
10. Sirius XM Press Release on Town Hall Event
11. Sirius XM Press Release on Entertainment Weekly Announcement
12. Sirius XM Press Release on Adam Schein Addition
13. Sirius XM Press Release on Final 4 Coverage
14. Sirius XM Press Release on 2013 Masters Coverage