With the auto industry lagging behind an even slower global economy that brought on Circuit City’s failure, Sirius XM’s revenue (which rely heavily on new car sales and Circuit City sales) has taken a bit of a downturn. But, with bankruptcy problems behind them, the satellite radio company is looking forward to a better 2009 – a year that should see the launch of a Sirius XM streaming music iPhone application in the second quarter.
In a conference call that recapped Sirius XM’s Q4 loss of $245.8 million, Sirius XM executives–CFO David Frear, CEO Mel Karmazin and operations and sales chief Jim Meyer all made references to the upcoming Sirius XM iPhone application. The iPhone app will stream music from Sirius XM’s satellite radio service over WiFi or cellular data networks, which could hint at Sirius XM’s considering an Internet-based radio service.
It’s unclear what subscription fees will be required to access Sirius XM’s music through the iPhone app, or if the application will be bundled with a subscription to help drive sales.