SiriusXM’s stock is officially on the floor. And it’s had me thinking why – as I’ve been pondering canceling my own subscription.
Since Howard Stern went to Sirius in 2006, he has been talking big about the death of “terrestrial radio”. But I think it’s bigger than that. With iTunes, a growing selection of on-demand media (think of all of the places you can on-demand movies from), and to a smaller extent, the growing reliability of Internet-based music and media channels, the threat posed to both traditional radio and SiriusXM is real. Add to that the shrinking volume of disposable consumer dollars, and SiriusXM is as hosed as “terrestrial media”.
Honestly, the music selection of SiriusXM isn’t that spectacular – the playlists repeat more often than they should, and the variety means that personally, I have about maybe 15 channels, tops, that I ever listen to. The sole breadwinner that they have is truly unique broadcasters – such as Howard, Oprah, and Martha… I listen to Howard for the whole rubbernecking factor – just to see what happens next (and frankly I’m ashamed of myself 
).
But it’s getting harder and harder for me to validate paying for SIriusXM – when Howard and a few other channels are all I would miss – and I have to think, post-acquisition, that many Sirius, and LOTS of XM subscribers, feel the same.
