reported by XM (for those cars sitting unsold on the lot or for those 3-month trial subs that are never subsquently subscribed to by new car owners), then 40% of XM's "subs" are in fact one subscriber: GM. A bit false and misleading to count them as individual subscribers, leading public into thinking you have many more real people listening to your service than you really do. And pretending you have a much bigger sub lead on your competitor than is actually the case. Where's the SEC on all of this?
The SEC is more interested in how the finances of a company are reported. The fact that XMSR & SIRI report subscriptions in different ways does mean an apples for apples comparison takes a little more work.
SIRI does refer to the fact that their service is available to around 9 million dish network customers but doesn't include them as any fraction of a real sub in their sub counts.
The difference is that it is true that Siri is available to 9 million DISH subscribers. Sirius does not claim they are in fact Siri subs. Yet XM falsely claims sub #'s that are in fact one sub: GM. And it appears that they also continue to count as subs (long after the 3-month trial period) those 3-month free trials that do not get converted into subs. Fishy accounting to me.
We can "bitch and moan" about how XM tallies it's "subs", but the fact remains that GM is outfitting 2 Million vehicles with XM through 2004! That's a lot of XM radios, whether people are actually paying to hear or not! More than likely, and over time, those radios will be broadcasting the XM signal! Now, Sirius needs to get Ford on board, to at least half the degree of GM, and maybe Siri can say good-bye to being a $2.35 dollar stock!