Sirius doesn't seem to be having much trouble with the flat economy. The company added 334,000 (net# new subscribers in the third quarter of 2011. The company now has 21 million total subscribers, a new company high. CEO Mel Karmazin said "we are growing in a weak economy with plenty of new competition out there." SiriusXM has added 1.16 #net) million new subscribers so far in 2011, a 6% increase over 2010. they expect to add another 440,000 in Q4
Sirius also reported record revenue of $763 Million in Q3 a 6% over the third quarter of 2010. Karmazin said, this has been an exciting year for SiriusXM, but I'm even more excited by the many opportunities awaiting us in 2012. We plan to accelerate our revenue and adjusted EBITDA growth, deliver more free cash flow than ever before." Part of why Karmazin may be exited is the company will soon raise its price, after being locked in by the government, as part of the merger agreement. The price of $12.95 per month can be raised in two months.
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