Sirius XM (SIRI) blamed the plummeting U.S. auto industry for its first-ever quarterly subscriber decline this week: During the first quarter, Sirius lost 400,000 net satellite radio subscribers, finishing March with 18.6 million subs.
But Sirius XM’s growth rate has been sliding for years. As the car industry continues to sink — and competition intensifies — it’s going to be even harder to find new customers.
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