Sirius Satellite Radio Retail Market Share Increases In March
FRIDAY, APRIL 30, 2004 8:30 AM
- PR Newswire
NEW YORK, Apr 30, 2004 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (SIRI) , known for delivering the very best in commercial-free music and premium sports programming to cars, homes and boats across the country, today announced that its retail market share rose to 44 percent in March, according to data compiled by market information company The NPD Group.
According to the data, during March over 32,000 SIRIUS satellite radios were sold in mobile electronics retail stores, a 110 percent increase in sales from the same month last year, and a 38 percent increase over sales figures for February of this year.
"We continue to be very pleased with our progress in the retail marketplace," said Joseph P. Clayton, President and CEO of SIRIUS. "More people are hearing about the benefits of satellite radio, and more are choosing SIRIUS because of our premium programming. In addition to our 100 percent commercial-free music, we offer a vast selection of news, information and entertainment, including the best play-by-play sports coverage in satellite radio with the NBA, NHL and NFL. This comprehensive SIRIUS entertainment programming is making a strong impression on consumers around the country, and is a very positive indicator of our expected growth this year."
SIRIUS continues to make inroads into the automotive market with more factory and dealer installation programs from its exclusive partners, DaimlerChrysler, Ford, BMW, Lincoln-Mercury, Mazda and Mercedes-Benz, and other car manufacturers such as Audi, Infiniti, Nissan and Volkswagen.
Earlier this month, DaimlerChrysler announced that SIRIUS would be available as a factory-installed option on eleven 2005 model year vehicle lines this year.
SIRIUS also continues to benefit from its strong cash position, having ended the first quarter of 2004 with over $700 million in cash and very low debt.
Beginning in late May, SIRIUS music will be available to a majority of the nine million subscribers of EchoStar's DISH Network satellite television service.
Wal-Mart will also be getting SIRIUS in May, when they will be offering a SIRIUS portable Plug & Play product and Boombox.
Later this summer, SIRIUS will be available in the seven thousand RadioShack stores across the country, in time for the beginning of the NFL season, which will be broadcast on SIRIUS, as part of its far-reaching agreement with the NFL.