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XM Tops 6-M Subscribers; Sirius Ends 2005 With More than 3.3-M Users |
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WASHINGTON, Jan. 4, 2006/Satnews Daily/ — XM Satellite Radio announced on Wednesday it now has more than 6 million subscribers and projects it will end 2006 with more than 9 million subscribers on the strength of breakthrough products. XM said it added 2.7 million net new subscribers in 2005 and expects more than 3 million net new subscribers in 2006.
In contrast, its competitor, Sirius Satellite Radio’s (NASDAQ: SIRI) subscriber base increased by 190 percent in 2005 to 3,316,560 at year end. Sirius said it added a record 2,173,302 subscribers during the year adding 1,142,640 net new subscribers during the last quarter.
“XM added a record number of new subscribers in 2005, representing 84 percent growth over prior year ending subscribers,” said Hugh Panero, XM president and CEO. “We have more than six million subscribers today, and we expect to reach more than nine million subscribers by the end of 2006.”
According to XM, more than 85 percent of XM's nearly 900,000 net new subscribers during the fourth quarter of 2005 came from retail sales. XM ended 2005 with 5,933,000 subscribers, not including radios purchased as Christmas gifts that were not activated before December 31 and will be activated during the first quarter of 2006.
Mel Karmazin, CEO of Sirius, said satellite radio is very hot and is continuing on pace to be one of the fastest growing products in consumer electronics history. He cited the industry’s over 9 million subscribers today, adding nearly 5 million new subscribers in 2005.
He said Sirius is experiencing a strong start in the new year and he expects to end 2006 with over 6 million subscribers. “We also look forward to the rollout of Sirius in an increasing number of automobiles during the year,” added Karmazin.
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