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XM Surpasses 3.2 Million Subscribers, Adds More Than 1.8 Million Users in 2004 |
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LAS VEGAS and WASHINGTON, Jan. 6/Satnews Daily/ — XM Satellite Radio (NASDAQ:XMSR) said Wednesday it has signed up more than 3.2 million subscribers, representing more than 1.8 million net additional subscribers in the year 2004.
“During the fourth quarter of 2004, XM added more than 700,000 customers -- our best quarter ever. More than 50,000 subscribers signed up for XM on Christmas Day, the biggest single day of activations in the history of the company,” said Hugh Panero, XM CEO and president.
He said with the addition of Major League Baseball and an exciting variety of new XM products in 2005, XM is well-positioned to expand its leadership position in satellite radio. “By the end of this year, we expect to have 5.5 million subscribers, reflecting an increase of 2.3 million new subscribers during 2005,” he added.
Panero Says Total Satellite Radio Equipment Wholesale Revenue Hit $300 Million, Representing 3.5 Million Receivers Shipped; Shipments Expected to Double in 2005
According to current figures released by the Consumer Electronics Association (CEA), factory-to-dealer shipments of satellite radio receivers alone totaled nearly 3.5 million units with approximately $300 million in wholesale revenue generated from receivers and accessories in 2004, representing a 249 percent increase in receivers shipped and a 145 percent increase in wholesale revenue over the previous year.
"I predict that satellite radio overall will double the number of receivers shipped to 7 million in 2005, and I believe that year-end satellite radio hardware sales could be a billion-dollar industry by 2006," Panero said.
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