Sirius Subscriber Gains Drive Revenue Jump
Sirius Satellite Radio posted revenue of $167.1 million in the 2006 third quarter, up 150 percent from the same period a year ago, the company announced Nov. 8.
Sirius credited the revenue gains to its addition of nearly 3 million subscribers throughout the last 12 months, including 441,000 net new subscribers in the 2006 third quarter. The company reported 5.1 million subscribers as of Sept. 30, compared to 2.2 million subscribers at the end of September 2005.
The revenue gains helped Sirius cut its net loss to $162.9 million in the 2006 third quarter. In the 2005 third quarter, the company lost $180.4 million on revenues of $66.8 million. Average monthly revenue per subscriber was $11.17 in the third quarter of 2006, compared with $11.15 in the same period a year ago.