It was a rough day for the market overall, but E* and Sirius certainly took their lumps.
With the increase in SAC for E*, people are realizing that E* is having to pay more and more to buy their subs. The market is maturing. How many people in the US DON'T have either cable or dbs? It's going to take quite a lot of incentives to buy those people, if they are still watching OTA. E*, D* and the cable cos can trade subs back and forth, but there's only so many households out there. The dbs companies are going to have to work on increasing ARPU.
The sat radio companies are going to struggle until/if their product becomes more mainstream. I still can't make myself pay $10 a month for radio. From listening to Sirius via the web, I don't really think I am missing all that much, certainly not something worth spending $10 monthly.