Saturday, March 14, 2009

Sirius XM: Not Just Satellite Anymore

Detractors of Sirius XM are fond of pointing out that its biggest weakness is being satellite based, as opposed to competing music providers that are web based.

Clearly, Sirius XM has figured out that they need to play ball in that court.

Sirius XM plans to offer an iPhone/iPod Touch application in the second quarter and outlined today a number of other plans to grow its business now that the headwinds of the merger and refinancing are behind it.
The upcoming iPhone application would stream Sirius XM to iPhones and iPod Touch devices and is now in “rigorous testing,” said chief financial officer David Fear during a conference call with analysts. He added, “This will permit an estimated 7 million iPhone users and iPod Touch users to access Sirius XM content if they are paid subscribers.” And if they become a new subscriber, they won’t have to purchase a new radio, he explained.

Good idea, but is it too little, too late? I guess that we'll find out.

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