Sirius XM Issues Five-Year Projections
November 6, 2008 at 6:22 AM (PT)
SIRIUS XM RADIO has released a five-year projection of subscriber counts and revenue, tied to its current attempts to refinance its crushing debt load by early in 2009. The company expects subscriber growth, which has slowed in 2008, to hit 19.1 million by the end of this year, reach 20.6 million by the end of 2009, 22.1 million in 2010, 24 million in 2011, 26.2 million in 2012, and 28.4 million by 2013.
Revenue is projected to reach $2.7 billion in 2009, up to $4.1 billion in 2013, with adjusted EBITDA expected to reach $3 million in 2009 and $1.5 billion in 2013. Free cash flow is projected to be zero in 2009, going into positive territory in 2010 at $4 million, and hitting $1.4 billion in 2013.
The company's third-quarter numbers will be released MONDAY (11/10).