Boom: Sirius Is Now Bigger Than Netflix

It’s great to get out of the woods – and even better to beat Netflix on the way.

According to stats shared by the company, Sirius XM Radio subscribers now stand at 20.19 million, a record for the company.  That beats Netflix, also a developing platform, which finished the year with just over 20 million.

Let’s face it – Netflix is growing much faster, and this will probably be a short-lived win.  But for now, the accomplishment qualifies Sirius as the second-biggest subscription media platform, behind only Comcast.

And my, what a difference a year makes.  In 2010, Sirius added 1.4 million net subscribers, compared to a net loss of 232,000 in 2009.  Sirius projects gains of 1.4 million subscribers over the coming year.

Still, financial issues remain.  Wall Street pushed shares southward following the news, thanks to an $81 million loss.  That reverses year-ago gains of $12 million, based on various restructuring and debt management charges.  Shares recovered somewhat on Wednesday, though the resting point was a lowly $1.81.

 

2 Responses

  1. @ckapadia

    Chhaya Kapadia
    Is this right? Are they counting cars w/preinstalls who don’t reup?

    • JSS

      For now. Netflix is a on a faster trajectory. 20 million plus for a radio platform is a feat but this is a temporary dominance. Very temporary.