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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
