Friday, July 07, 2006

Bridge Ratings - What Is Happening?

July 7, 2006

Bridge Ratings has been doing satellite radio analysys for some time now, and we here at SSG have been critical of their methods, as well as the totals they have been arriving at. They now seem to have taken the step of creating analysys after the numbers are already in.

On June 28, 2006 Bridge Ratings was projecting 767,555 Gross Retail subscribers for XM Satellite Radio and 719,577 Gross Retail subscribers for Sirius. Their total projection was 1,487,132 Gross addions from the retail channel only!!! This data was in place up until susbscribers were announced Investors who follow these equities closely were well aware that Bridges analysys had some fatal flaws, and that their p[rojections were simply to high to be obtained. Those that do not follow the equities that closely were seriously misguided by Bridge Ratings analysys.

Now, subsequent to subscriber numbers being released, the data looks remarkably different. They now ssem to be at 479,142 Gross retail additions for XM and 663,228 Gross Retail additions for Sirius. Their new total for SDARS as a whole is 1,142,371. How did their data change so dramtically witin days????? Here is their new chart:
What seems to be amazing here is that Bridge has somehow used the exact data they collected all quarter to come to a new conclusion. They state that they are reliable and accurate, but being reliable and accurate after the fact is something anyone can accomplish. We are aware of several people who had tried to contact Bridge Ratings in the past 4 months to express beliefs that Bridge's projections were off the mark and to high. Bridge maintained their methodology throughout the quarter however.