I'm live blogging the Sirius Satellite Radio (SIRI) 1Q07 earnings call for those of you who can't listen in, or who just want to read some quick notes about the call.
Just keep hitting that "refresh" button to see the updates...
- Right now it's just hold music...
- And we're beginning
- Over to Mel
- "2007 is off to a great start for Sirius"
- With 556,490 net additions, Sirius has nearly 6.6 million subscribers
- And Sirius is "well under way" to meet their YE2007 guidance for more than 8 million subs
- Mercedes said 80% installs this year, 90% installs for next year, and over 90% for the following year
- OEM partners are dramatically ramping the number of subscribers for Sirius
- over $200 million in 1Q revenue, Sirius is fastly approaching the 1 billion in revenue for the full year
- Overall churn was 2.3% - in the middle of expectations
- Demand for Sirius continues to be strong
- Onto Jim Meyer
- Sirius captured 66% total satellite radio segment share
- Retail: 193,000 net additions of aftermarket additions... while lower from last year's Stern Effect - Sirius still captured 73% of satellite radio marketshare
- OEM: Sirius captured 62% of OEM additions - "Sirius executed very well of all fronts"
- OEM penetration rates are exceeding initial projections
- Sirius is becoming a key marketing point for OEMs
- Mercury will embark on a 2-month promo for Sirius starting today
- Ford expects to more than double shipped from the current 600k units
- Chrysler, Dodge, and Jeep vehicles will launch Sirius Backseat TV this Summer
- 1Q demand "has been on plan"
- YoY variances in the aftermarket segment to continue to improve (Father's Day coming up)
- Success in BOTH OEM and Retail is in their objectives
- On to Scott Greenstein...
- Sirius is cementing their role as the leader in sports programming
- Talking about NFL, NASCAR, NBA, and NCAA programming
- Talking about the launch Siriusly Sinatra channel, as well as the new Punk rock channel and Lithium the 90s alternative channel
- Howard hosted his first year on satellite radio, and Barbara Walters launched. They also renewed NPR and Jamie Foxx is coming.
- Marketing: "remains preeminently important"
- New Father's Day promotions are coming
- Certain marketing is directed to niches (such as NASCAR) and other marketing directed to other niche programming
- PR continues to be a big focus for Sirius
- Now on to David Frear...
- Added 556,490 subs
- Total churn = 2.3% (in the middle of 2.2% - 2.4% churn) - uptick vs last year is due to OEM and Retail mix
- SAC per gross subscriber addition was $104 for the first quarter of 2007
- Ended with $264M in cash, cash equivalents and marketable securities
- Back to Mel...
- Mel wants to talk about pricing - Sirius has kept price of $12.95 since the inception.
- Sirius believes they offer a premium over XM
- Even though they believe this, Sirius feels they can't increase prices because they are competing with FREE
- "If we do not have enough subscribers at $12.95 - how will we get them at $14.95 or higher?"
- On to the merger....
- Even though FCC comment period has yet to begin, they expect prominent sources to offer their support and write letters of support
- Anticipate that FCC will issue a public notice shortly
- This will trigger a comment period, followed by a reply period
- They maintain that they will be able to close the transaction by the end of the year
- Q&A time!
- Q: XM said they will regain marketshare... how do you feel about that?
Radio ad sales market has been pretty weak. Less than last year, how do you expect to see this trending?
A: Sirius is very happy with marketshare numbers (76%). Continue to believe that they will be the dominant brand. There may be months when there's fluctuations, but SIrius expects to have the majority of shares for retail.
Howard Stern is a significant amount of advertising. Last year Howard didn't take his regular vacation time, and many advertisers wanted to be on board for his jump to satellite. All this contributed to the difference. Ad revenue is trending at 20% above. - Q: Talk a little bit about Churn and what are you doing to ensure it stabalizes? ARPU - excluding rebates and the Hertz impact - what's causing the YoY decline?
A: Growing amount of Family Plans is bringing down ARPU, this is the principle reason for that. On churn, using "best practices" for engaging the customer including educating the consumer what's being broadcast, all the way to call centers. Using research to go after groups that may tend to churn out. Also focusing on the experience of Sirius at the dealer. The better the demo at the dealer, the more likely the car buyer will become a converted subscriber. - Q: Can you tell us what the OEM conversion rate is? Or the rate of OEMs that are sticking around? What about the effects of NASCAR? Do you reiterate the guidance for 2010?
A: OEM conversion rate is not something that Sirius will come out and discuss. It's an "isolated statistic" and while monitored internally, they rather talk about that metric. In regards to NASCAR, Mel highlights the 76% of net ads in satellite radio. The only guidance we're going to give is the guidance we've given you.
Back to OEM conversion rate. Our partners have a lot of go-to-market objectives - 3 month, 6 month, 1 year trial subs - and so it makes conversion rate very difficult. - Q: What percentage of subs takes the Family Package? Any plans to change pricing on that?
A: Family Package is about 16%. Mel's comment on pricing stands from the beginning the call. - Q: Conversion rates for lower end cars versus higher end cars? And what conversion rate do you need to be for a sort of ROI for each style of car to be included?
A: doesn't think there's anything strong related between the styles of vehicles. There's a slight lean for higher end cars to convert moreso than lower end cars. All OEM cars are wanted. Self-paying churn number is tracking in the same number as it has in the past (isn't anything new). - Q: Revshare/Royalty numbers? What are the merger costs? Why did Mercedes up their take rate?
A: For Mercedes - they valued the Sirius experience for their new car sale - so they're increasing the relationship. Merger costs are actually in the balance sheet. Since Sirius is the buyer, they're capatalizing the costs. But for the quarter its about $5 million. - Q: At retail, what devices did you see (if any) that stood out in sales? Any word from consumers that they're particulary interested in? And anything new for the Summer?
A: Best sellers are in the $70 - $150 range. Slightly disappointed in the sale of wearable products. No comment on the new products. - Q: OEM penetrations - are they manufacturer production based?
A: Penetration means that's the number of cars produced with Sirius installed. - Whoa.... no more remarks, call ends pretty quickly.
Just mentioned Stern's vacations.... expect the bbboys to play that clip...
Stilettos haven't sold as well as expected... however, Sportsters (my guess from the $79-$149 price point) are exceeding expectations...
leviramsey - I have no doubt they'll play that clip, given the fact that their entire show revolves being accepted by daddy. They have no show if they arent trying to bash Howard somehow. They've just become pathetic.
>>"Just mentioned Stern's vacations.... expect the bbboys to play that clip..."
Zero. Point. Zero.
heh.
>>"Stilettos haven't sold as well as expected... however, Sportsters (my guess from the $79-$149 price point) are exceeding expectations..."
That's because Stilettos are overpriced and, frankly, not as good as comparable XM offerings. I look forward to the merger so I can get my hands on some of that better XM technology.
Any mention of the new reciever for GM-Lan radios? It was supposed to be out in "spring". Anybody?
stern has 0.0 now too. :D
Cunt,
Your 0.0 is really old. Are you mentally challenged? Your 0.0 comment is not just old but completely inaccurate. You sound like an ass. Just like Sternbot73. 0.0, 0.0, 0.0. Hoo Hoo told me 0.0, 0.0, 0.0. Hoo Hoo told me 0.0, 0.0, 0.0. Hoo Hoo told me 0.0, 0.0, 0.0. Hoo Hoo told me 0.0, 0.0, 0.0. Hoo Hoo told me 0.0, 0.0, 0.0. Hoo Hoo told me 0.0, 0.0, 0.0.
Maybe you should focus on Mel's little comment that he's like to raise prices. Sounds like a great idea huh? I thought a merger would bring prices down but you can see he's just frothing at the mouth to raise them, foam coming through his giant fucking teeth.
Zero. Point. Zero.
:)
I like how anti-merger people will manipulate any statement to support their argument, and how they state their points so eloquently.
PFreak:
I thought a merger would bring prices down but you can see he's just frothing at the mouth to raise them, foam coming through his giant fucking teeth.
Mel Karmazin:
"Sirius believes they offer a premium over XM.
Even though they believe this, Sirius feels they can't increase prices because they are competing with FREE
If we do not have enough subscribers at $12.95 - how will we get them at $14.95 or higher?"
PFreak does not get it does he...it makes it even more funner... ;)
hows that 1.9 in NY going PFreak, told you those numbers in Jan were incorrect huh?
"That's because Stilettos are overpriced and, frankly, not as good as comparable XM offerings. I look forward to the merger so I can get my hands on some of that better XM technology."
lets do some simple math here...
XM INNO $299.99 includes home kit, belt clip and ear buds. features 50 hours to record XM, 512mb can be used to store MP3's. optional accessories, car kit $79.99, headphone antennas $39.99, extra battery $29.99. no boomboxes available at the moment(INNO has been out for a year now)
Sirius Stiletto 100 $249.99 includes 2 batteries, ear buds, antenna headphones. features 100 hours to record Sirius, almost 1 gig can be used to store MP3's, plus stream Sirius Internet radio using the Stilettos built in WiFi antenna. optional accessories, home or car kit $49.99 each, belt clip $29.99, Boombox $149.99, Exec docking system $149.99, Soloist docking system $149.99
Bottom line,
INNO with home and car solution $379.99
SL100 with home and car solution $349.99
Advantage Sirius! $30 cheaper with double the memory, larger display, easier user interface, extra battery included, extra headphone antenna included, oh yeah...and WiFi!
next time do some research before posting MikeHunt!
P.S....OWNED!!!! Zero Point Zero...
Howard didn't take his regular vacation last year? The implication being he's off more this year? I want a Don Buchwald poster for my wall.
Anyway, it's interesting that churn for both companies doesn't seem to be that big of a concern. Vonage has 2.4% churn and every article that mentions it makes it out to be real problem. I guess if your SAC is $275 losing a few customers might be a bigger deal.
if 0.0 point out hoo hoos vacations
next week , someone should remind
them that they were off many stations
during their TWO WEEK VACATION.
1.9 in your home town is nothing to
crow about and don't give me those
18-34 demos either.
zero point zero
i'm sure many companys
that do subs. have churn
if it doesn't bother xm
why siri.
>>"I like how anti-merger people will manipulate any statement to support their argument, and how they state their points so eloquently."
Pfreak's just petrified his middle-aged "bbboys" will be drummed out of the industry if Mel takes over. Talk about drinking the idiot Kool-Aide.
Zero. Point. Zero. :)
>>"I want a Don Buchwald poster for my wall."
That would just be creepy. :shiver:
"Howard didn't take his regular vacation last year? The implication being he's off more this year?"
Uhhh....no. Unless you count the Fridays he worked in the first quarter of last year that he didn't work this year. Howard usually takes a vacation in the first quarter. He didn't last year. But he still took all of his vacation. This year he took a vacation during the first quarter. So, what he really means is we will have at least one more week of Howard in the second, third and fourth quarters than we did last year.
PFuck and his excessive stupidity are just about the best pro-satrad/Sirius proponents you can have.
http://youtube.com/watch?v=a3gNl7M6CR8&mode=related&search=
Does it really matter how much vacation time Stern has now? Have you listened to his show this week? It's horrible. His guests have been members of the whack-pack and HowardTV producers, and the conversations have been about Gary's dinner party. Maybe there was more to it than that...don't know... had to switch over to music on XM.
1.9 in NY for O&A? HA HA HA HA!
http://www.nydailynews.com/entertainment/tv/2007/05/01/2007-05-01_fresh__mexican_formats_playing_well.html
Opie and Anthony, who took over from the unfortunate David Lee Roth on WFNY last March, have doubled Roth's ratings with their target of 18- to 34-year-olds. But so far that's only meant going from 2% to about 4% of the audience, a third of Stern's old numbers.
http://www.nydailynews.com/entertai...rket_tha-2.html
I'm personally a little disappointed in O&A. They've got a 2.0 share here in Philly on WYSP, while Preston and Steve, the LAMEST morning show ever is pumping a fucking 7.0+.
Although, it is funny that all the people who claimed O&A would bring back Free FM about 1 year ago now, aren't talking that same shit. They're just happy they're really not a 0.0
Inno - $129.99
Car Kit - $69.99
Total - $199.98
(don't need Belkin Painphones as this unit works fine w/o them. Don't need 2nd battery as this unit's regular battery lasts longer than Stilletto brick battery.)
Stiletto - $239.99
Car Kit - $49.99
Home Kit - $49.99
Total - $339.97
(Having to include two batteries because the life of both is terrible is not a selling point. Neither is the display size. It's barely bigger and provides no added benefit. UI sucks balls compared to Inno and "click wheel" is a piece of junk.)
Stilleto - $139.99 more expensive. Not to mention a piece of chunky shit nearly 3 times the size of Inno and additional monthly fee to get any kind of usable audio from WiFi. WiFi severly limited in both channel selection & recording cababilities. Stiletto also only allows for block recording. Inno allows block recording but also editing of block session.
Why do you need a $150 boombox? I've had my Inno over a year and have never had a need to buy an additional boombox. I use it on whatever radio I want. If you enjoy being a complete sucker to buy a pair of low quality speakers and an antenna for $150 you're dumber than your screen name. Now go philmore ass.
http://www.myradiostore.com/
Jordi,
Here's post you may understand.
O&A make to be 1/3 of Stern rating. HA HA!!!!! Grandpapi HowaRd do no wrong HA HA. Me win Me thinks!!!! ME POST butr link No goodly. Me write goodly thow. Me think old man FuNNy. Has been to listen an d funny I find. Me suck a cock now for my food as parents leave me at firehouse when born. Me unwanted and result of date rape. HA HA. So you see.
Jordi,
Here's post you may understand.
O&A make to be 1/3 of Stern rating. HA HA!!!!! Grandpapi HowaRd do no wrong HA HA. Me win Me thinks!!!! ME POST butr link No goodly. Me write goodly thow. Me think old man FuNNy. Has been to listen an d funny I find. Me suck a cock now for my food as parents leave me at firehouse when born. Me unwanted and result of date rape. HA HA. So you see.
Jordi,
Here's post you may understand.
O&A make to be 1/3 of Stern rating. HA HA!!!!! Grandpapi HowaRd do no wrong HA HA. Me win Me thinks!!!! ME POST butr link No goodly. Me write goodly thow. Me think old man FuNNy. Has been to listen an d funny I find. Me suck a cock now for my food as parents leave me at firehouse when born. Me unwanted and result of date rape. HA HA. So you see.
ME Post Many time Ha HA...
Here big link full of fact.
isucksterncock.com
Now you sEE.
Schimshamity- Oh come on Preston and Steve aren't that bad. I listen to them every morning. Well actually they are on just long enough for me to get out of bed and hit the snooze or off button. They are the greatest alarm clock. :)
p frek
i have s sirius boombox
plug in play it works
fine and i dont need
a dolly to carry it around.
and i've read many posts
where people have complaind about inno
as much as a stilleto.
Jordi? Is that supposed to be an insult? It probably is to the mentally challenged PFreak. Can't even write a coherent sentence.
PFreak quote:
"I do make comments on your writing because it's incredibly poor and hard to take you seriously"
That sentence was poorly written and you're making fun of my grammar you stupid cunt. Tell me one thing I wrote that was incoherent. You can't shithead.
The correct way of saying what you wrote:
"I do make comments on your writing because it's incredibly poor, making it very hard to take you seriously"
I have pointed out your grammar errors and you have yet to show me mine. And that zombie mentality is amazing! O&A are doing great in the ratings! BRAINS! BRAINS! 1.9! Ha ha ha!
Actually Jordi, either way of writing the sentence is grammatically correct. The problem with you is you need your tutor to look over your writing (aka write it for you) to come up with a coherent sentence.
"I have pointed out your grammar errors and you have yet to show me mine."
This sentence, for example, is grammatically incorrect and amazingly one of the best pieces of writing you've ever posted. My examples of your post were spot on.
Now back to what you're best at, cooking Big Macs.
SternFan
If you have a boombox and like it good for you. But you don't need a home dock & a boombox, they are really the same thing other than a boombox being more expensive. Like most people, my biggest piece of shit boombox/stereo is far better than anything from either XM or Sirius. You'd do better buying computer speakers. My point was the Inno is way cheaper than the Stiletto. It's not even close.
PFreak...a real retail store sells the INNO for $299.99. "My Radio Stores" refurbed crappy $139.99 INNO is not what average retail shopping Joe will buy.
My Radio Store was borderline bankrupt so Ziggy had to pick up the Sirius line. LMFAO!
By the way PFreak, the INNO battery life is aweful! my friend has a INNO. we turned it on next to my SL100 to see which battery would last longer on a full charge. I used the slim battery that Sirius includes with the Stiletto. The INNO lasted less than 20 minutes longer. The extra "brick" battery is amazing and im glad Sirius was smart enough to pkg it in the box.
As far as reception goes, both radios are aweful as portables without the extra antenna headphones. However, i can walk around NYC with my SL100 in my coat pocket and it receives 100% reception, as does my friends INNO, both without the extra antenna headphones.
The SL100 user interface is light years ahead of the INNO's. Especially in the car with the numeric buttons on the car kit.
Face it champ, Sirius radios are better than any of XM's. XM once held the lead in the tech dept, but just like their retail market share, they've sunk!
good day sir!
0.0
Zero Point Zero
Look at PFreak's desperation, reaching at straws with his assumptions. What’s the matter? You weren’t expecting another quarter win by Sirius right? 6 quarters in a row! That must hurt. And I know you weren’t expecting those horrid ratings the middle aged bbbbboys got. A 1.9 in New York?! YIKES! So you have no choice but to ignore these facts and misdirect the conversation to something else with 3rd grade insults and name calling. You and I know the truth. O&A are big failures.
These are the facts:
“Opie and Anthony, who took over from the unfortunate David Lee Roth on WFNY last March, have doubled Roth's ratings with their target of 18- to 34-year-olds. But so far that's only meant going from 2% to about 4% of the audience, a third of Stern's old numbers.?”
http://www.nydailynews.com/entertai...rket_tha-2.html
Opie and Anthony have a 1.9 rating in NY.
http://www.nydailynews.com/entertainment/tv/2007/05/01/2007-05-01_fresh__mexican_formats_playing_well.html
Now nitpick on my grammar and call me childish names because focusing on O&A’s success stories will lead you nowhere. You would have to be a complete zombie to say they’re kicking ass in the ratings and XM is kicking Sirius’ ass. Ignore their failures as if they don’t exist and keep up with your queer internet wars. Remember, ignorance is bliss.
Jordi,
You didn't address anything from my post, just brought up O&A again. You must really love them. Enjoy the virus my illiterate friend.
And if O&A has only a third of Howards old ratings, that's pretty good. That's over twice as many people listening to them as signed up for Howie on Sirius.
O&A have 1/3 of Howard's old NY audience you idiot! Are you really that dumb? O&A have 1/8 of Howard's old audience total. A whopping 1 million listeners in 20+ markets. WOW! What an achievement. Look at this--> http://www.talkers.com/main/index.php?option=com_content&task=view&id=17&Itemid=34
It's sad when Mancow has more listeners than you.
Keep calling me names while you make an ass of yourself once again. Ha ha ha!