Sirius Projects 2.7 Million Customers by Year’s End
Sirius CEO Mel Karmazin says that his satellite radio service will have 2.7 million subscribers at the end of 2005, assuming that the current rate of new subscribers continues. That’s more than double the 1.1 million subscribers Sirius reported at the end of 2004, an impressive feat at the least. When Karmazin was asked about Sirius’ debt, he didn’t seem worried - Karmazin noted that satellite radio has unlimited potential because people spend so much time in their cars. But it’s a long way to the end of the tunnel, as industry analysts don’t expect Sirius to be cash-flow positive until 2007.
