We've thought it to be coming for quite some time, given the string of bad news for XM and good news for SIRIUS. Today's second quarter numbers released from SIRI show SIRIUS outpacing XMSR in subscriber growth, a vitally important number for the two battling companies."Sirius, boosted by an exclusive deal with shock jock radio personality Howard Stern, said it added about 600,640 net new subscribers in the quarter, a 64 percent growth from the same period last year. It ended the quarter with 4.7 million subscribers, still short of XM's nearly 7 million subscribers.
XM said it added 398,000 net new subscribers, a 38 percent drop in net subscriber growth compared to last year's period curbed by new product availability. XM shares were flat in Nasdaq trade after falling as much as 5 percent before the market opened."
There's still a very long way to go before satellite radio becomes profitable. Continued strong growth does help to sway the doubting Thomas', and at least gets SIRIUS a bit closer to paying the bills.[via Reuters]
