XM Radio
In the late 1980s, the American Mobile Radio Corporation was founded. In March 1997, it became one
of two companies to receive an exclusive Satellite digital audio radio license. The company changed
its name to XM Satellite Radio and contracted with Hughes Space (now Boeing Space Systems) to
build and launch two satellites. XM then gave a public offering of its stock, and began signing
contracts with media providers and celebrities and making exclusive broadcast arrangements with
major sports.
As competition with its fellow satellite radio company, Sirius Satellite radio began heating up, the
general environment for radio, which had been relatively static for the last 50 years, experienced a
dramatic change. In addition to the traditional ground based stations, XM and Sirius found themselves
competing with new personal music devices, like the iPod, HD radio, Internet radio, and in-car DVD
players.
In efforts to attract new customers, XM began offering various free trials and discounts on its
services, along with reduced rate radio installations. Low yields from subscriptions and high subscriber
turnover made these methods costly, however. So, to further separate itself from the competition, XM
introduced NavTraffic, a system that compiles ground based traffic information, and new XM2go
devices, which could be removed from vehicles. Again, the result was not what XM had hoped for. In
spite of positive feedback reviews, the devices provoked a lawsuit from record labels and also came
under investigation from the Federal Communications Commission (FCC) for interfering with other
nearby radio signals.
Despite years of hopeful forecasts, XM and Sirius recently reported combined annual losses of
$1.5 billion. Though XM’s number of subscribers has grown continuously to 7.5 million, the company
has yet to turn a profit. With rising competition and large contractual obligations, XM needed to find
ways to adapt to the new environment. First, XM stopped trying to buy new radio content and began to
focus more on customer acquisitions.
With obtaining new customers proving difficult, however, XM also began new cost cutting
strategies. With subscriptions being low priced already, XM stopped giving away new radio receivers
and began requiring purchasers of the radio receivers to sign subscriber contracts. Further, XM
contracted with GM and Honda, both originals XM shareholders, to install radios in their new cars.
These measures resulted in substantial reductions in acquisitions costs, from over $89 per subscriber to
less than $70.
Another potential solution that XM has pursued is a merger with Sirius. When the satellite license
was initially granted in 1997, specific provisions prevented a merger; however, in light of the recent
major changes in the market, both companies hope that those provisions might be invalidated. The
FCC would have to approve the merger, and it is possible the certain concessions might be required,
such as price restraints, restrictions on carrying local radio content, and allowing other companies to
lease usage of the satellites. Still, such a merger would remove competition and potentially allow for
reduced costs and increased prices.
129. Refer to XM Radio. With the invention of MP3 players, iPods, and Internet radio, XM needs to
determine how it can adapt to changes in its _____ environment.