Bloomberg: Sirius, XM Satellite Cause Static at Clear Channel's Radio Unit

A great article in Bloomberg today about Satellite Radio a distruptive thorn in the sides of Clear Channel and Viacom.

A great snippet:

...satellite radio is where cable television was in the 1970s, a business with few subscribers compared with the traditional broadcast networks. Yet it has the potential to disrupt an industry, says Randall Rothenberg, 49, chief marketing officer at Booz Allen Hamilton Inc. consultants in New York.

Cable TV subscribers accounted for 68 percent of all viewers in 2004, up from 8 percent in 1970, Nielsen Media Research says. Satellite radio service, which XM Satellite inaugurated in September 2001, will have taken four years to capture 4 percent of the market this year, while cable TV needed 13 years.

"Something that gets 7 million subscribers in the blink of an eye is not an inconsequential entrant in the market," Rothenberg says.

Awesome. Read more here.