Washington, DC (April 5, 2006)–XM Satellite Radio announced that it added more than 568,000 net new subscribers during the first quarter of 2006 for a total of more than 6.5 million subscribers. XM is on track to reach nine million subscribers by the end of 2006.
“The first quarter represented another solid quarter of growth in XM subscribers, and is consistent with our goal of nine million subscribers by year end,” said Hugh Panero, president and CEO, XM Satellite Radio. “More importantly, our subscriber growth was achieved economically, with a substantial reduction in the cost to acquire a new subscriber as compared to the fourth quarter of 2005.”
Major initiatives of the second quarter include XM’s exclusive satellite radio play-by-play coverage of Major League Baseball, with Opening Day games today and coverage of every MLB team throughout the season; the next generation of XM radios, including the world’s first portable radios that combine live satellite radio reception and MP3 functionality; XM’s comprehensive coverage of the FIFA World Cup soccer tournament in English and Spanish; and the premiere of Bob Dylan’s XM Radio show.
XM Satellite Radio