The Death of Satellite Radio At Hand?
Ouch.
A good day it was not for Sirius-XM. Bankruptcy rumors knocked 50% off the stock, which closed at – ehh – 6 cents.
I’m starting to realize that as much as I love the technology and all I love about it: Howard Stern, E Street Radio, Backspin, Deep Tracks, Jam On, Classic Rewind, The Bridge, Outlaw Country – that the reality is it may not have much of a future.
In the internet age, where SO MUCH is available in a few clicks, and the technology of free internet radio in the car not far away… well, how can they possibly convince more people to shell out $150 a year for satellite radio?
I hope it sticks around, and as a shareholder, I hope there isn’t a bankruptcy (and that the stock slingshots back up), but I’m not holding much hope.
Sirius XM drops 50% on reports of possible bankruptcy (CBS MarketWatch)
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5 Comments
Michael
Yahoo has Sirius listed in an article of the 15 companies on death watch. I never made the jump to Satellite Radio (I came close when Opie & Anthony made the move) but I figure that I’ve got so much crap to listen to that another source would just make it more difficult.
Charlie
Well, I can replace the music on Sirius/XM, but I it is impossible to replace no holds barred talk radio programming found on Sirius. Howard Stern Show…it’s like air to me. I can’t live without. Ferrell…real men sitting around talking about sports and women. The Playboy channel. I have to admit, I’ve learned a few things listening to that channel. These types of programs would never be heard on regular, boring radio.
K Rock
I have had both XM and Sirius. The appeal originally was no commercial radio that featured more than just the top single off the latest album especially with the rock, pop, urban, and country. However, after a short time they needed investors and the satellite radio market pretty much was controlled by the large media corporations whom then had big stake in vested artist and playlists. So after listening to both offerings it was clear that only certain artist would get the bulk of the airtime. Furthermore, the introduction of promos and other “commercial” interest I think have lead to the downturn of stock holdings and appeal. Big buisness rules again(unfortunately)!
Gonzo
K Rock – I hadn’t been aware of this, though it’s fascinating and not all that surprising. I’d love to hear more (I spend my life studying this kind of thing). So the same corporate control that killed full power radio killed (in part) satellite too. When will they learn, seriously?
The other big factor as Pete mentioned is the technology. Even beyond Internet receivers in car radios (a strong likelihood, once the wireless infrastructure is better established), there’s also the move to HD, similar to what TV is in the process of doing right now. It seems pointless to me, and a waste of spectrum space that could go towards other things – broadband, community broadcasting, etc. We’ll have “more options,” (i.e. KROCK 1.1, 1.2, 1.3 1.4) – but more options from the same old sources, which is no real choice/variety at all. And really, who needs radio to be in HD? I really need to hear the nuances of Rush Limbaugh’s breathing patterns in my car.
Shultzie
I hear ya K Rock – I’ve been a Sirius subscriber for 5 years and I have seen the “ClearChanneling” take place as stations were amalgamated and the fringe was cut away in exchange for the commercial appeal.
But I would miss Jam On.