Sirius and Pandora Brace for Downturn in Demand
The Bedford Report Provides Equity Research on Sirius & Pandora
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/20/11 -- Radio Broadcasters of all types are facing growing headwinds due to the slowdown in the US economic recovery. Sirius XM -- the sole satellite radio provider -- is negotiating a slowdown in new car sales, while internet radio broadcasters are facing increased competition. The Bedford Report examines the outlook for companies in the Services Sector and provides investment research on Sirius XM Radio, Inc. (NASDAQ: SIRI) and Pandora Media, Inc. (NYSE: P). Access to the full company reports can be found at:
Despite concerns about how the weak economy will affect the car market, Sirius XM Radio has been helping its cause by achieving a growing rate of penetration with new car sales. During the second quarter of 2011, SIRIUS XM said it added 452,147 net subscribers, which raised the company's total subscriber base to over 21 million at the end of June 30, 2011.
Additionally, Sirius has hiked its rates on existing subscribers. The price of basic service will go from $12.95 to $14.49 per month, Sirius said earlier this month. Sirius hasn't raised that price since the service launched in 2002.
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Shares of Pandora, the leading internet radio company in the US, came under fire this month after Clear Channel launched its iHeartRadio app and website. Its new offering will let users create customized stations, a core feature at the center of Pandora's business model.
Pandora is trying to expand its reach of late. Earlier this month the company announced that it now offers a dozen new workout radio stations. After adding a genre station each individual listener can further personalize and refine the station by providing thumbs-up and thumbs-down feedback.
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Datum: 20.09.2011 - 06:16 Uhr
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