• ABOUT
    • Contact
    • The Team
    • Editorial Calendar
    • Events
    • FAQ
    • Use & Privacy Policy
  • ADVERTISE
  • ROWFAX
  • THE SPORTS CREDENTIAL
  • JOB LISTINGS
MusicRow.com
  • CALENDARS
    • Album/EP Releases
    • Single/Track Releases
    • Industry Events
  • OBITS
  • CHARTS
    • Radio Chart (Current)
    • Radio Chart (Archives)
    • No. 1 Challenge Coin
    • Songwriter Chart (Current)
    • Songwriter Chart (Archives)
  • REVIEWS
  • MY STORY
  • NEWSLETTER
    • Newsletter (Current)
    • SIGN UP (FREE!)
    • Newsletter (Archives)
  • SUBSCRIBE
  • STORE
  • Search
  • Menu Menu

Karmazin Blames Doom & Gloom

March 13, 2009/by bossross

Mel Karmazin, CEO of Sirius XM Satellite Radio blames a “doom and gloom” fourth quarter for the company’s lackluster results. Satcaster investors were saddled with analyst reports, during the quarter, that it might be unable to meet its debt obligations. Finally, Liberty Media Corp. lent Sirius XM over $500 million while taking a 40% stake in the company to cover upcoming payments. Karmazin’s concerns which included the economy and the Circuit City bankruptcy, can be seen in the disappointing subscriber numbers announced this past week. Subs grew by a scant 83,000 in the fourth quarter compared with a combination of 1.1 million in the same period a year ago for Sirius and XM.

On tap for the second quarter of 2009 is a new iPhone application which would offer an option to subscribe to the service without having to buy a new satellite-enabled radio. Analysts cite a plethora of issues that mostly negatively affect the growth and development of Sirius XM. For example, shrinking car sales which lowers the number of new sat-ready radios put into the marketplace. Also discussed is the growing sense that streamed Internet will make its way into the driver-livingroom and sites music discovery outlets like Pandora will provide competitive options that might limit future satellite subscriber growth.

  • Author
  • Recent Posts
bossross
bossross
bossross
Latest posts by bossross (see all)
  • Exclusive: Meghan Trainor Entices Nashville On Untouchable Tour - August 8, 2016
  • Weekly Register: SoundScan Discounts Jay Z Promotion; 'The Voice' Reigns - June 26, 2013
  • Weekly Register: An Unstoppable Freight Train - June 19, 2013
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Share by Mail
https://musicrow.com/wp-content/uploads/2019/03/MusicRow-header-logo-Mar19B.png 0 0 bossross https://musicrow.com/wp-content/uploads/2019/03/MusicRow-header-logo-Mar19B.png bossross2009-03-13 14:09:172009-03-13 14:09:17Karmazin Blames Doom & Gloom
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply Cancel reply

You must be logged in to post a comment.

RECENT NEWS

  • Parker McCollum Celebrates Three No. 1 Hits September 22, 2023
  • Frank Ray Celebrates Hispanic Heritage Month With New Spanish EP September 22, 2023
  • Cody Johnson Announces Third Studio Album ‘Leather’ September 22, 2023
  • Dalton Dover Delivers New Project, ‘Never Giving Up On That’ September 22, 2023
  • Kane Brown Releases Phil Collins-Inspired Track ‘I Can Feel It’ September 22, 2023
  • Widely Admired Bass Player Dave Roe Passes September 22, 2023
  • Zach Bryan Releases Five-Track ‘Boys Of Faith’ EP September 22, 2023
  • Dustin Lynch To Kick Off His ‘Killed The Cowboy Tour’ In April September 22, 2023
  • Bill Anderson Named First Recipient Of Dr. David Godbold Lifetime Achievement Award September 22, 2023
  • Morgan Wallen Takes ‘Everything I Love’ To Top Of MusicRow Chart September 22, 2023
  • Megan Moroney Drops Deluxe Edition Of Debut Album ‘Lucky’ September 22, 2023
  • Oliver Anthony Signs With UTA September 22, 2023
  • DISClaimer Single Reviews: ‘A Lot To Fall In Love With’ This Americana Week September 21, 2023
  • CMA Foundation Honors Music Teachers Of Excellence September 21, 2023
  • Industry Ink: Stephen Wilson Jr., Anne Wilson, BMI, ACM September 21, 2023

Like Us on Facebook

Follow Us on Twitter

Tweets by MusicRow
© 2023 Music Row Enterprises, LLC – All rights reserved.
  • Facebook
  • Twitter
  • Instagram
Scroll to top