How bad will this Christmas be for Sirius XM? Really bad.
The satellite radio company expects to sign up 200,000 net subscribers in Q4, what’s supposed to be its busiest quarter.
- That’s almost a third fewer than the 344,000 it signed up in Q3.
- And it represents 80% slower growth over Q4 2007, when Sirius and XM combined to sign up 1.1 million net subscribers.
What’s to blame? The crappy economy and terrible car sales — where Sirius XM gets most of its new subscribers. (Meanwhile, we bet that won’t stop Apple from selling another 2-3 million or so iPhones in the U.S. this quarter, all of which are capable of connecting to free Internet radio stations.)
Bigger question: If Mel Karmazin only expects to sign up 200,000 subs in what’s supposed to be his best quarter, and things show no sign of improving in the next several months, how the heck is Sirius (SIRI) going to hit its measly growth target of 1.5 million subscribers in 2009?
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