America News: Sirius 2006 revenue hits $637m, XM achieves $933m
Sirius Satellite Radio and XM Satellite Radio have reported massive losses despite record revenues for the full year 2007.
Sirius reported revenue of $637.2 million for 2006, a year-on-year increase of 163%.
Ex-rival soon-to-be partner XM Satellite Radio’s revenue for 2006 was up 67% to $933 million.
Sirius added 2.7 million new subscribers in 2006, ending the year with more than 6.02 million.
XM added 1.7 million new net subscribers, to end the year with almost 7.63 million,
Once again, both companies reported net losses for the full year 2006: Sirius $1.1 billion, XM $718.9 million.
Sirius expects to end 2007 with revenues approaching $1 billion, and more than 8 million subscribers.
XM declined to provide guidance for 2007, due to the pending merger with Sirius and the uncertainty surrounding the timing and financial impact.
