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It's official! XM SATELLITE RADIO SURPASSES FOUR MILLION SUBSCRIBERS

Discussion in 'Mobile Phones / Entertainment' started by Ronald Epstein, May 16, 2005.

  1. Ronald Epstein

    Ronald Epstein Administrator
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    This story is a few days old

    XM SATELLITE RADIO SURPASSES FOUR MILLION SUBSCRIBERS

    More Than 70 Percent of Satellite Radio Subscribers Have XM

    Washington D.C., May 16, 2005 -- XM Satellite Radio (NASDAQ: XMSR), the nation's leading satellite radio provider, announced today that it exceeded four million subscribers last week, extending its significant leadership position in the satellite radio industry.

    "By adding one million new subscribers in less than five months, XM is clearly the fastest-growing satellite radio company," said Hugh Panero, president and CEO of XM Satellite Radio. "Our tremendous subscriber growth is a testament to XM's ever-increasing momentum and we look forward to hitting our target of 5.5 million subscribers by the year's end.

    "XM has continued to increase its subscriber base at an impressive rate since its launch. It took 23 months for XM to reach its first one million subscribers. It took eight more months to reach our second million, six months to hit three million, and less than five months to exceed four million," Panero said.

    XM is one of the fastest-growing entertainment media ever. As a mass medium, XM has reached four million subscribers in less time than cable television or online subscription services - two of the nation's most successful subscriber businesses. Consumers have also adopted XM faster than CD players, MP3 players, cell phones, personal computers, local radio, broadcast TV, satellite TV, or digital video recorders, according to data from Consumer Electronics Association (CEA) Market Research. More than 70 percent of satellite radio subscribers have XM.

    "XM remains focused on providing compelling content, developing innovative radios and expanding our distribution channels at retail outlets and automobile dealerships - an approach that has successfully led us to four million subscribers, and one we will continue to pursue to 20 million subscribers by 2010 and beyond," said Panero.

    Poster's note...
    As of April, Sirius boasted 1.5 million subscribers
     
  2. Jeff Adkins

    Jeff Adkins Well-Known Member

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    Wow! That's great news. I'm amazed the XM is still growing faster than Sirius with all the publicity they had since November. It'll be interesting to see if XM still continues to outgrow Sirius come January. I certainly hope so as I was terribly dissatisfied with Sirius and finally got rid of it a little over a month ago.
     
  3. Ronald Epstein

    Ronald Epstein Administrator
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    Congrats, Jeff!

    It's amazing that Sirius still holds on
    to their limited playlist policy. Then again,
    I suppose that is their way of being unique.
     
  4. TheLongshot

    TheLongshot Well-Known Member

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  5. BrianAe

    BrianAe Well-Known Member

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    It depends on how you measure growth. It seems to me both are on track with their near term objectives (which still don't make either viable businesses in the long run). You have to remember that XM had a big head start and look at market share.

    At the end of 2003, Sirius had only 15% market share. Their stated goal for the end of 2005 is 33%. The most recent published numbers put them at about 27.27%, but since XM release numbers over a month after Sirius, the Sirius market share is probably a little higher than that.
     
  6. Tina_H_V

    Tina_H_V Well-Known Member

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    I started out with SIRIUS back in February 2005 the week before the Super Bowl. I am immensely satisfied with the product, as I have SIRIUS in my home, car and the corresponding boombox.

    However, I recently decided to get in on the XM action and took advantage of the buy one XM radio, get an XM Roady2 free. So far, so good. I am liking what I hear--especially on some of their music channels and Major League Baseball.

    Now to see how long XM takes in getting my Rady2 back to me. It has been nearly a week so far...
     
  7. Jed M

    Jed M Well-Known Member

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    I find that XM mail in offers can take a while. It took about 6 weeks for me to get my free home kit.
     

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