Quantcast
"For now, we're going to stick to the $9.95 price, though we have the flexibility to raise our rates."
——Heinz Stubblefield, XM Satellite Radio CFO

XM NEEDS TO PUT A
TON OF CASH IN ORBIT

Don’t Look At Us, All Of Our Money Is Tied Up In Goat-Herding And Billboard Bulletin Subscriptions
Gee, this whole outerspace radio thing sure is getting costly. XM Satellite Radio CFO Heinz Stubblefield, speaking at a Banc of America Securities investor conference, said that the company will need to raise $300-350 million dollars to fund its satellite radio broadcasts from 2002-2004.

The company has already raised $1.5 billion dollars, which it has spent building and launching two broadcast satellites ("Rock" and "Roll"), advertising and marketing the service and bidding on Jeff Koons’ ceramic sculptures of Michael and Bubbles. XM plans on broadcasting 100 channels of news and music at the end of September. For now, subscribers can get in on the action for $9.95 per month, but Stubblefield said that the company has the flexibility to raise its rates. "We’ll assess our pricing and marketing approach as we move closer to launch."

The company's main competitor, Sirius Satellite Radio Inc., increased its monthlys service fee by $3 to $12.95. XM continues to assess its pricing models, according to Stubblefield. "For now, we're going to stick to the $9.95 price, though we have the flexibility to raise our rates. Now, did anyone see my ticket for the Mir space shuttle?"

Allied Business Intelligence, an Oyster Bay, NY, think tank, projects that, by 2006, satellite radio will generate annual revenues of $350 million. Which seems to be some sort of magic number with this industry.

Can we talk about the monkey man now?

NEAR TRUTHS: SPRING BLOOMS
Here come the big guns. (3/28a)
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
CITY OF HOPE TAPS MARCIANO FOR TOP HONOR
This year's philanthropic model (3/28a)
TRUST IN THE TOP 20
Hip-hop is no longer hibernating. (3/28a)
UMG BROADENS SPOTIFY OFFERINGS
Sir Lucian and Daniel are in harmony. (3/28a)
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)