Xm Exceeds 2.5m Subs In Third Quarter

Discussion in 'Mobile Electronics News' started by The_Ancient, Nov 6, 2004.

  1. The_Ancient

    The_Ancient Full Member

    XM Exceeds 2.5M Subs in Third Quarter
    October 1, 2004 -- Washington -- XM Satellite Radio said it's on track to exceed 3,100,000 subscribers by the end of this year. The company announced that it finished the third quarter of 2004 with more than 2,500,000 subscribers. XM added more than 415,000 net new subscribers in the quarter -- a subscriber gain that's 75 percent higher than the 237,000 net new subscribers added in the third quarter of 2003.

    "We continue to be pleased with the cost-efficient growth of our subscriber base and the continuing strong demand for XM's products and programming in both the new car and aftermarket channels. Aftermarket sales during the third quarter would have been higher, but for a temporary reduction in Delphi XM Roady2 receiver production during a four-week period in the quarter while a low-yield component was being replaced. Roady2 production returned to normal capacity in late August," said Hugh Panero, president and CEO of XM Satellite Radio.

    "The second half of the year is shaping up very well, with third quarter subscriber gain reflecting consistent progress towards exceeding our 2004 year-end guidance of 3.1 million subscribers," added Panero.

    XM's product picture for the fourth quarter is very attractive -- both in volume and variety. SKYFi2, with the first ever satellite radio 30-minute replay / pause feature, as well as a built-in FM modulator and individualized sports and stock updates, is now in production and will be available in significant quantities at retail during the quarter. Audiovox will also introduce a new XM plug-and-play radio during the quarter.

    Also driving consumer demand in the fourth quarter are the availability of major ACC, Big Ten and PAC-Ten football and basketball games on XM, plus several new content initiatives debuting Monday, October 4, including The Bob Edwards Show (XM Channel 133) and The Opie & Anthony Show (XM Channel 202).

    On October 11, the company is launching XM Radio Online, a premium Internet music service being marketed to the digital home in partnership with Dell.