New York/Washington, D.C. (November 4, 2005)–Sirius Satellite Radio and XM Satellite Radio have announced their third quarter results. As of September 30, 2005, Sirius had 2,173,920 subscribers. XM’s total industry share, which includes retail and new car subscribers, was 63 percent for the 3rd quarter with XM adding 617,152 total subscribers and its competitor 359,294.
Sirius announced strong third quarter financial and operating results, driven by subscriber growth in its retail and automotive OEM distribution channels. The Q3 subscriber figure reflects net additions of 359,294 subscribers, a 97 percent increase compared to last year’s figure. SIRIUS expects its subscriber growth will be driven by traditionally strong consumer demand in the fourth quarter.
XM Satellite Radio announced that, based on the latest satellite radio industry subscriber results, XM increased its retail market leadership with a 59 percent market share in the 3rd quarter compared to 56 percent in the 2nd quarter. The market share figures are based on XM’s addition of 305,284 net retail subscribers in the 3rd quarter versus the 209,920 net retail subscriber additions announced by its competitor.
“XM subscribers represent two out of every three satellite radio customers. Satellite radio is one of the fastest-growing entertainment services ever and is expected to exceed more than nine million total subscribers by the end of this year,” said Hugh Panero, XM’s President and CEO. “XM continues to expand its leadership position while adding subscribers at about one-third the cost of our competitor.”
“The third quarter represented another quarter of solid execution by our management team,” said Mel Karmazin, CEO of Sirius. “We continued to gain retail and overall market share in the quarter, while meeting our guidance for third quarter net subscriber additions. As we move into the important fourth quarter, we believe that our mix of innovative and competitively-priced products at retail, combined with more Sirius factory installations by our automotive partners, will yield strong year-end results, and we are raising our subscriber guidance to over 3 million to reflect this expectation.”
XM Satellite Radio