The satellite radio service is all over the news wire this morning with coverage from David Lieberman (Deadline), Georg Szalai (The Hollywood Reporter), James Rogers (TheStreet.com) and others. The reason: a press release announcement by CEO Jim Meyer that SIRIUS has crossed the magical mark of 25 million subscribers.
What’s most interesting about all this, besides the morning stock bump if you’re a SIRIUS XM stakeholder, is the main source of the larger-than-expected Q2 2013 subscriber increase. From Lieberman’s report:
Most of SiriusXM’s new customers are auto buyers, and the company attributes much of its recent growth to the continued strength in that market. Sales in June were up 11.2% vs the same month last year, to a seasonally adjusted annual rate of 15.98M, Automotive News reported.