SIRIUS SATELLITE RADIO ENDS YEAR WITH MORE THAN 1.1 MILLION SUBSCRIBERS
Company Exceeds Year-End Target of 1 million Subscribers
SIRIUS Expects to Double Number of Subscribers in 2005
NEW YORK - January 3, 2004 - SIRIUS Satellite Radio (NASDAQ: SIRI) today announced that it ended 2004 with 1,143,258 million subscribers, exceeding its end-of-year target of 1 million subscribers. The company attributed its strong full-year results to robust retail sales, growing awareness of the benefits of satellite radio, and greater recognition by consumers of the company's premium quality programming.
"While we were looking to finish the year with 1 million subscribers, we are very pleased to have significantly exceeded that number," said Mel Karmazin, CEO of SIRIUS. "The combination of our innovative products, diverse content and greater awareness of the SIRIUS brand, along with strong growth from the retail and automotive channels, contributed to a better-than-expected year-end figure."
SIRIUS' Sportster "Plug & Play" was a popular gift item during the holidays, as were many of the other transportable products from the satellite radio broadcaster. The "Plug & Play" products can be used in vehicles, boats, RVs or homes, and provide a flexible, low-cost way of experiencing satellite radio.
"2004 has been a watershed year for SIRIUS with the introduction of exceptional programming and feature-rich products," added Karmazin. "This strong finish underscores the momentum that we continue to see for our service, including commercial-free music, news, weather, traffic, entertainment and the best sports coverage in satellite radio. We believe that this enthusiasm will continue, and we expect to double our subscribers during 2005."
About SIRIUS
SIRIUS delivers more than 120 channels of the best commercial-free music, compelling talk shows, news and information, and the most exciting sports programming to listeners across the country in digital quality sound. SIRIUS offers 65 channels of 100% commercial-free music, and features over 55 channels of sports, news, talk, entertainment, traffic and weather for a monthly subscription fee of only $12.95. SIRIUS also broadcasts live play-by-play games of the NFL and NBA, and is the Official Satellite Radio partner of the NFL.
SIRIUS radios for the car, truck, home, RV and boat are manufactured by Alpine, Audiovox, Blaupunkt, Clarion, Delphi, Jensen, JVC, Kenwood, Sanyo and XACT Communications. Available in more than 25,000 retail locations, SIRIUS radios can be purchased at major retailers including Best Buy, Circuit City, Crutchfield, Office Depot, Sears, Target, Wal-Mart and RadioShack. SIRIUS is also available at heavy truck dealers and truck stops nationwide.
SIRIUS radios are currently offered in vehicles from Audi, BMW, Chrysler, Dodge, Ford, Infiniti, Jeep(R), Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Porsche and Volkswagen. Beginning in February 2005, SIRIUS will also be available in Toyota, Lexus, and Scion vehicles. Hertz currently offers SIRIUS at 53 major locations around the country.
Click on www.sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer or car dealer in your area.
Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2003 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our results of operations are: our dependence upon third parties to manufacture, distribute, market and sell SIRIUS radios and components for those radios; the unproven market for our service; our competitive position and any events which affect the useful life of our satellites.
Media Contacts:
Patrick Reilly
SIRIUS Media Relations
preilly@siriusradio.com
212.901.6646
Ron Rodrigues
SIRIUS Media Relations
rrodrigues@siriusradio.com
212.584.5192
