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Mel Says Radio Will Continue To Decline

10-10-2012

Sirius XM CEO Mel Karmazin told Liberty Media investors that as the company he runs (for now anyway) continues to grow revenue and subscribers willing to pay for service, terrestrial radio revenue will continue to decline. He said, "Radio was an $18 billion industry a decade ago and today it's a $15 billion industry. Radio will continue to decline over the next five years." He added, "We are the largest radio company in the world. More importantly, our growth rates are extraordinary."

Karmazin also spoke about monetizing listeners. He detailed how much Sirius XM makes per subscriber per year and compared that to Clear Channel and Pandora. Karmazin says, based on 58 million monthly users, Pandora brings in $5.84 per user per year. Clear Channel, based on the number of listeners it lists on its website, according to Karmazin, brings in $12.55 per listener per year. And, he says, based on the number of subscribers Sirius XM has, the company will generate $137.69 per subscriber per year. He concluded by saying, "Business models matter."

During his presentation there was no mention whether Karmazin plans to stay on as CEO of Sirius XM. And, there was no question and answer session with him following the presentation.




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