Sonos Says Sales Doubled in '13 as Home Sound-System Market Grew

Sonos Inc., the maker of multiroom speaker systems, said revenue almost doubled to $535 million in 2013 as consumers increasingly used wireless technology with music services like Pandora in the home.

The closely held maker of high-fidelity speakers and streaming software is disclosing its revenue for the first time. Sonos is attempting to expand from its base of music enthusiasts to grab a bigger share of the $10 billion home-audio market, said Tom Cullen, a company co-founder, in an interview. The Santa Barbara, California-based company, which raised $40 million in 2012, is operating at break-even, he said.

“We’ve set ourselves up as the best-kept secret in electronics, but the scale of everything we’re trying to achieve really requires us to do things differently,” Cullen said.

Nine years after the company pioneered the whole-home wireless stereo market, it faces competition as bigger consumer electronics makers build products for the fastest-growing category in home audio.

Samsung Electronics Co. (005930), based in Suwon, South Korea, in October introduced the Shape music system, while closely held Bose Corp. developed its SoundTouch speakers. Bang & Olufsen A/S (BO) has released new wireless systems developed under an audio standard known as WiSA, in which Sharp Corp. (6753) and Pioneer Electronics Co. also are members.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

MIDLITE®'s SPEEDPORT Universal Cable Pass Thru, Fastening & Anchor System

MIDLITE®'s SPEEDPORT Universal Cable Pass Thru, Fastening & Anchor System

Use for any Low Voltage Cabling, A/V, Telecom, Data, Networking Ideal for : Sound Bars & Wall Speakers • Home Theater Cabling • A/V Furniture The SPEEDPORT™ is incredibly versatile and is ideal for wall mounted box speakers, sound bars and wireless access devices mounted in ceilings. It can accommodate almost any device needed to be hung on a wall or ceiling with cable pass thru and mounting. The ultra low profile design features a rubber grommet insert for bulk cable pass thru. Two mounting screws are hidden behind the grommet and offer a clean, unobtrusive presentation. Installation is quick & simple using a hole saw and attaches to acoustical ceiling tiles and/or gypsum board. Reducing labor and a whole lot of mess from hand cutting large rectangular holes - Low voltage brackets are no longer needed. Just cut your hole in the desired location, insert SPEEDPORT™ and tighten adjustable mounting arms to fasten securely.