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Given Detroit's Woes, What's At Stake for Sirius?
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Given the woes experienced by the big three U.S. automakers, what could be at stake for the satellite radio business?
The automotive sector is a big deal for Sirius XM, generating a significant amount of customers for the satellite radio service. But the car business is in trouble, with General Motors, Ford and Chrysler hoping for government help to keep their businesses afloat through next year.
Sirius XM said it ended the third quarter with 18.92 million subscribers, up 17 percent from third quarter 2007. During the 2008 period, Sirius XM netted 344,100 subscribers.
By far the biggest group of new subscribers came from the automotive - or OEM (original equipment manufacturer) - sector, which generated 492,215 new subscriptions for the Sirius XM service in the third quarter. Rental vehicles accounted for 1,282 net additions.
The retail side of the satellite radio business recorded a net loss of customers in the quarter, amounting to 149,416. When the retail loss is combined with OEM and rental gains, Sirius XM netted those 344,081 customers in the quarter.
OEM customers accounted for 9.7 million of Sirius XM's subscriber base, while 9 million customers represented the retail portion, said the company.
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Given the woes experienced by the big three U.S. automakers, what could be at stake for the satellite radio business?
The automotive sector is a big deal for Sirius XM, generating a significant amount of customers for the satellite radio service. But the car business is in trouble, with General Motors, Ford and Chrysler hoping for government help to keep their businesses afloat through next year.
Sirius XM said it ended the third quarter with 18.92 million subscribers, up 17 percent from third quarter 2007. During the 2008 period, Sirius XM netted 344,100 subscribers.
By far the biggest group of new subscribers came from the automotive - or OEM (original equipment manufacturer) - sector, which generated 492,215 new subscriptions for the Sirius XM service in the third quarter. Rental vehicles accounted for 1,282 net additions.
The retail side of the satellite radio business recorded a net loss of customers in the quarter, amounting to 149,416. When the retail loss is combined with OEM and rental gains, Sirius XM netted those 344,081 customers in the quarter.
OEM customers accounted for 9.7 million of Sirius XM's subscriber base, while 9 million customers represented the retail portion, said the company.