Unless you've been living under a rock, you probably know that there are two major providers of satellite radio... Sirius and XM. My husband sent me an article that came out in the New York Times late last night regarding the quarterly financial report from Sirius (yes, I realize this isn't a business blog... stay with me).
Though the company posted a $134.1 million dollar loss for their second quarter it's actually an improvement from their second quarter last year where they posted a loss of $237.8 million. (AKA, the loss is a good thing). During this second quarter, Sirius says they've actually increased their new member base and revenues by 50%. Of course, if the merger between Sirius and XM goes through, 2008 is sure to present an entirely different picture.
So this goes back to the discussion about how music listening is evolving. The average person has an wide range of ways to listen to music... commercial radio, satillite radio, MP3 player, CD, Internet radio, etc. About a year ago my husband and I became Sirius people. Now, if we aren't listening to Sirius we're listening to our iPod. Satellite radio and our iPod provide us with an insane amount of listening options. We've discovered new artists (like some of those in the TBPAC's Club Jaeb series) and new genres.
Though I'm not a stock holder, I hope satellite radio continues to grow. I love all my music listening options and can't wait to discover another new artist! So many listening options, so little time.
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