Sirius (SIRI) Higher Following Pandora's (P) July Data; Signs of Slowdown Present, Though U.S. Radio Share Rises
Tweet Send to a FriendGet Alerts SIRI Hot Sheet
Down)
Trade SIRI Now!
Sirius XM Radio (Nasdaq: SIRI) is higher Monday morning following mixed news from peer Pandora Media (NYSE: P).
According to data released for July, active listeners for Pandora rose 48 percent to 54.9 million, while listener hours jumped 76 percent to 1.12 billion. U.S. radio market share rose 380 basis points to 6.13 percent.
Numbers compare with a 51 percent increase in active listeners and 77 percent pop in listener hours for June. U.S. radio market share at the end of June was just 5.98 percent.
Further, May active listeners rose 52 percent with listener hours up 87 percent with similar growth reported in April.
The numbers bode well for Sirius. Data indicates slowing in growth for Pandora, meaning that subs are possibly moving back to Sirius. Though Pandora is more Internet based, its making strong strides to put an app on gaming consoles, Blu-ray players, smart TVs, and, most importantly, cars. Sirius already has a relationship with virtually every automaker of importance, tying its results strongly to how well auto sales are going.
Negative listener growth is being partially offset by increased U.S. radio presence, which may be more of a Doppler-type effect than anything else (aggregate numbers continue to increase amid the slowdown).
Shares of Sirius are up 1.6 percent while Pandora is up 2.3 percent on the session.
Shares of Sirius are up 1.6 percent while Pandora is up 2.3 percent on the session.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
According to data released for July, active listeners for Pandora rose 48 percent to 54.9 million, while listener hours jumped 76 percent to 1.12 billion. U.S. radio market share rose 380 basis points to 6.13 percent.
Numbers compare with a 51 percent increase in active listeners and 77 percent pop in listener hours for June. U.S. radio market share at the end of June was just 5.98 percent.
Further, May active listeners rose 52 percent with listener hours up 87 percent with similar growth reported in April.
The numbers bode well for Sirius. Data indicates slowing in growth for Pandora, meaning that subs are possibly moving back to Sirius. Though Pandora is more Internet based, its making strong strides to put an app on gaming consoles, Blu-ray players, smart TVs, and, most importantly, cars. Sirius already has a relationship with virtually every automaker of importance, tying its results strongly to how well auto sales are going.
Negative listener growth is being partially offset by increased U.S. radio presence, which may be more of a Doppler-type effect than anything else (aggregate numbers continue to increase amid the slowdown).
Shares of Sirius are up 1.6 percent while Pandora is up 2.3 percent on the session.
Shares of Sirius are up 1.6 percent while Pandora is up 2.3 percent on the session.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
- Dry Bulkers on Watch as Diana Shipping (DSX) Swings to Q1 Loss (DRYS) (FREE)
- Clearwire (CLWR) Active as DISH Eyes Lightsquared Spectrum
Create E-mail Alert Related Categories
Insiders' Blog, Trader Talk
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
