XM Gets Teed Off
The two satellite radio upstarts continue to carve up the sporting world as XM Satellite Radio announced that it was hooking up with the PGA for live event coverage as well as a dedicated channel where fans can tune in for exclusive programming beyond the 18th hole.
Ever since XM announced that it was hiking its monthly fee to $12.95 to match rival Sirius Satellite Radio, the market has been waiting to see what XM will do now that it can no longer compete on price. While XM started out the year with 3.2 million subscribers, nearly three times more than Sirius, now that it has leveled the playing field, it will have to outdraw Sirius with new content signings to avoid losing its significant early lead.
While Sirius had major scores in landing Howard Stern, the NFL, and wrestling NASCAR away from XM in two years, XM’s major coup until now was scoring the exclusive satellite radio broadcasting rights for Major League Baseball. When the PGA Tour Network debuts this summer it is unlikely to topple the popularity of XM’s baseball content. Still, it helps differentiate itself from Sirius and that’s important.