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XM Reaches 6.89-M Subscribers vs. Sirius’ 4.67-M Users in 2Q 2006 |
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WASHINGTON, D.C., July 7, 2006/Satnews Daily/ ― XM Satellite Radio announced on Thursday it added more than 398,000 new net subscribers during the second quarter of 2006 for a total of more than 6.89 million subscribers.
But its rival, Sirius Satellite Radio (NASDAQ:SIRI) is closing in, adding 600,460 net subscribers during the second quarter of 2006, or 64 percent above last year's second quarter net subscriber additions of approximately 366,000.
Sirius said it ended the quarter with 4,678,207 subscribers, 158 percent higher than second quarter 2005 ending subscribers of 1,814,626.
“As we previously indicated, subscriber growth in the second quarter was limited by product availability and overall softness in the retail channel,” said Hugh Panero, president and CEO of XM Satellite Radio, as he explained the slowing down of its subscriber growth.
He admitted however satellite radio continues to be one of the fastest growing consumer entertainment products.
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