Sirius XM post first quarter results 2016
Seems that the in-car demand for Sirius XM is increasing. Anna Washenko in Rain News:
Quarterly revenue rose 11% to a high of $1.2 billion. Net income for the period was $171 million, or 3 cents per share, compared with $106 million, or 2 cents per share, in the year-ago period.
The company saw 465,000 net new subscribers in the course of Q1, clocking in with a total of 30.1 million subscribers.
Radio Ink, reports on Sirius XM CEO Jim Meyer:
“Like a proverbial ice cube melting in Alaska, terrestrial radio isn’t going anywhere quickly. It will remain a massive, slow-moving, yet still widely used incumbent, that we at SiriusXM and streaming entrants can continue growing against for years to come. We have a have a huge potential here to provide a better bundle of radio to those who are willing to pay.”
Interesting that he sees Sirus XM’s main competition as terrestrial radio rather than streaming services. Which I understand: Pandora, Spotify, Google Music, Apple Music have a long way to go to make their in-car experience acceptable, let alone enjoyable. But you better believe they are all working on it.