Wednesday, April 27, 2005

Infinity Podcasting and XM Radio Numbers

News just hit the wire that Infinity Broadcasting will be incorporating the Podcasting craze as a lynchpin of their new media strategy. The programs will be made up entirely of listener Podcasts and will launch on May 16th at San Francisco’s Talk KYCY-Am, and will be streamed online at Good news for those of us who are tired of the Clear Channel monopoly on what passes for musical taste and culture.
Podcasting is now officially the new fashion ‘black’ with thousands of new shows on just about any topic under the sun being published every day by regular people with internet access.
In other news, XM Satellite Radio (Nasdaq: XMSR) announced over 541,000 new subscribers (a 68% increase over last quarter’s additions) along with their first quarter 2005 financial results. The company’s revenues were a 140% increase over those of the fourth quarter 2004. Despite the increase however, the company’s first quarter 2005 revenue results still show a net loss of $119.9 million. The company’s new subscriber forecasts beat analysts' financial estimates, but shares were still down 2.7 percent during morning trading. XM said that they remain on track to reach 5.5 million subscribers by year-end.

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