Tuesday, January 4, 2005

XM Satellite Radio Surpasses 3.2 Million Subscribers

XM Satellite Radio has signed up more than 3.2 million subscribers, representing more than 1.8 million net additional subscribers in 2004. XM added more than 700,000 customers for its paid radio service in Q4 -- its best quarter to date. By the end of 2005, the company expects to have 5.5 million subscribers.

The Consumer Electronics Association (CEA) estimates that factory-to-dealer shipments of satellite radio receivers alone totaled nearly 3.5 million units in 2004, with approximately $300 million in wholesale revenue generated from receivers and accessories -- a 249% increase in receivers shipped and a 145% in wholesale revenue over the previous year.

XM is also introducing new portable radios by Pioneer Electronics and Tao, a new brand from Giant International. The two units, which will be available at retailers this spring, feature a "live" listening mode and a time- shifting "memory" mode. The live mode enables users to listen live to XM's commercial-free music channels and wide variety of news, sports, talk, entertainment, traffic and weather channels. The time-shifting memory mode --allows users to store five hours or more of XM's content The Pioneer and Tao XM2go radios are each expected to have an MSRP of $349.99.

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