Posted by madcityradio.com on October 14, 2008 at 13:59:50:
Never one to shy from bravado, Sirius XM CEO Mel Karmazin insisted that the satcaster is destined to become “the most successful company in the audio entertainment industry.
“Clear Channel is No. 1 now and we are No. 2,” Karmazin said during a one-on-one keynote interview at the Billboard Media and Money conference in New York Oct. 14. “We just need to keep growing our subscriber base and find new ways to put our content on other distribution devices. I believe we will be the single most popular audio entertainment company in the world.”
Answering questions from Mediaweek senior editor Katy Bachman, Karmazin distanced himself from building the Sirius XM coffers through advertising-—a view he has previously supported—-instead saying that the newly merged company’s focus is on its subscriber base. He estimated that 96% of revenue will come from subscriptions.
Karmazin scoffed at a recent FCC suggestion that future satellite radios be mandated to include HD Radio. “This is still America,” he said. “Car companies are having their own problems; it’s wrong to ask that anything be added to the cost of what people are paying for a vehicle. The consumer ought to decide. The government shouldn’t be requiring HD Radio just because the content is not compelling enough on its own to get people to buy these radios.”
(Chuck Taylor, Radio & Records)
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