SIRIUS XM Radio Inc. (SIRI - Analyst Report) and Relevant Sports have declared an agreement which will allow the former to broadcast live soccer matches through its SiriusXM FC, channel 94.
SIRIUS XM listeners will get live updates of a series of soccer matches organized by Relevant Sports that will have some of the top European club soccer teams in action. Additionally, SiriusXM FC subscribers will be able to enjoy the international match between the world champion, Spain and Ireland at Yankee stadium on June 11.
The inaugural Guinness International Champions Cup is an exhibition soccer tournament that will bring European giants like Real Madrid, Inter Milan, Juventus in action across various cities of the U.S. Local giant, LA Galaxy has also confirmed its participation in the tournament. The tournament expects to showcase the talent of some of the most popular players in the world.
Of late, the U.S. has seen increasing popularity of soccer post the signing of various high profile players by Major League Soccer (MLS) teams. This has also improved the standard of the sport.
Recently, SIRIUS XM declared mixed financial results for the first quarter of 2013. The company’s bottom line was in line with the Zacks Consensus Estimate, while the top line failed to meet the same. During the quarter, Sirius XM added 452,890 subscribers reporting an annualized growth of 11.9%.
We believe that gaining the radio broadcast right puts SIRIUS in a winning position as the growing interest of soccer in the U.S. will allow it to add soccer crazy fans to its already impressive subscriber base.
Other Stocks to Consider
SIRIUS XM currently carries a Zacks Rank #3 (Hold). Other major entertainment broadcasters include Fisher Communications Inc. , CTC Media Inc. (CTCM - Snapshot Report) and Entravision Communications Corp. (EVC - Snapshot Report). Fisher and CTC carry a Zacks Rank #1 (Strong Buy) while Entravision carries a Zacks Rank #2 (Buy).