Struggling Sirius XM Radio Plans to Stream Radio to iPod Touch and iPhone

Sirius XM Radio, which is the nation's only satellite radio provider, has been struggling as of late. In fact, in recent months, the company has only avoided the dreaded bankruptcy filing by the skin of its teeth. But the company realizes that it must do something in short order or else the window of escape from bankruptcy will close forever. In an effort to stay afloat, Sirius XM has announced its intentions to stream its subscription service to the Apple iPod Touch and the Apple iPhone beginning this spring (source: tech.yahoo.com).

Recently, the company's shares of common stock have seen a dramatic decline due to a handful of factors. New car sales have been down by a huge margin which is where Sirius derives most of its revenue. The rumor that the company would have to file for bankruptcy certainly didn't help matters, nor did the closing of Circuit City where Sirius radios were sold. The existing sores that still do carry equipment have also seen a drop in fourth quarter sales. Still, the company has managed to increase its customer base 10 percent from last year with approximately 19 million subscribers (source: tech.yahoo.com).

With its latest announcement, the company hopes to latch onto two of the most popular gadgets that are on the market today. By making the services available for use with the iPod Touch and the iPhone, the company offers customers an entirely different avenue to get their favorite satellite stations, which include music, sports and talk channels. Now the customer will be able to get real-time access to their favorite programs in the most portable way imaginable (source: tech.yahoo.com).

While it is not clear how much money the stuggling company hopes to gain in revenues with this move is or even if it will even work, it does seem to be a step in the right direction. At this point and in this economy, companies are delighted to gain any amount of new revenues from whatever source they can. In the case of Sirius XM Radio, they need to do all they can as Sirius XM reported a fourth-quarter loss of $248.5 million. As bad as that sounds it was better than a loss of $405 million in the previous year's quarter (source: tech.yahoo.com). Still with losses like that, it doesn't take a genius to figure out that sooner or later the bottom will fall out and the company for all intensive purposes will be gone unless drastic measures are taken and succeed.When will all new streaming take place?www.tech.yahoo.com