SOURCE: The Bedford Report

The Bedford Report

October 28, 2011 08:16 ET

Sirius and Pandora Continue to Grow Despite Stagnant Economy

The Bedford Report Provides Equity Research on Sirius & Pandora

NEW YORK, NY--(Marketwire - Oct 28, 2011) - Despite a slowing economy, and increased competition, Satellite and Internet radio broadcasters continue to show signs of strength. As consumers upgrade from old fashioned terrestrial radio to popular new mediums, companies such as Sirius and Pandora are posting improved earnings, and stronger balance sheets. The Bedford Report examines the outlook for companies in the Services Sector and provides investment research on Sirius XM Radio, Inc. (NASDAQ: SIRI) and Pandora Media, Inc. (NYSE: P). Access to the full company reports can be found at:

Earlier this week Standard & Poor's Ratings Services raised its credit rating on Sirius XM Radio Inc., saying the satellite radio's progress in credit quality should be sustainable. "A continued recovery in auto sales will support revenue growth and maintain credit measures" in line with the rating, S&P wrote. Sirius gets most of its revenue from subscriptions, which depend on new-car sales for growth.

Group 1 Automotive Inc.'s chief executive officer argues that US auto sales likely will surpass 13.5 million light vehicles in 2012 on purchases deferred by consumers from this year and improved shipments by Japanese automakers. Sirius has also turned its attention to used cars, which are gaining popularity in the slowing economy. The satellite broadcaster announced that participating Nissan and Infiniti dealers will be able to offer a free three-month trial subscription to consumers who buy any used vehicle from the dealers' lots, not just Nissans or Infiniti.

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Pandora is also making a push into cars. The company's personalized radio service is now a standard feature on three popular luxury Lincoln models: the MKZ, MKZ Hybrid and the Navigator. The vehicles arrived on dealer lots in September 2011. Pandora executive vice president of business and corporate development Jessica Steel said, "Our listeners want Pandora everywhere they are, and the car is at the top of that list. We're delighted that Lincoln luxury drivers now have easy access to their personalized radio stations behind the wheel."

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