XM Satellite Radio Tops One Million Subscribers
One of the Fastest-Growing Entertainment Media in History
WASHINGTON, Oct. 27 -- XM Satellite Radio , America's #1 satellite radio service, announced that it recently surpassed 1 million subscribers, reaching this major milestone in less than two years since its national debut on November 12, 2001.
"With more than one million subscribers, XM has firmly established a new mass-market entertainment medium for consumers nationwide," said Hugh Panero, XM's President and CEO. "XM's success is particularly evident when compared to other media, from the inception of radio to today's latest technology."
Consumers have adopted XM Satellite Radio faster than local radio, television, satellite TV, CD players, MP3 players, or digital video recorders. As a mass medium, XM has reached one million subscribers in less time than cable television or online subscription services -- two of the nation's most successful subscriber businesses.
Number of Years to 1 Million
Comparative Products and Services
DVD Players 1 Year, 9 Months
XM SATELLITE RADIO 1 YEAR, 11 MONTHS
Compact Disc Players 2 Years, 4 Months
MP3 Players 2 Years, 4 Months
Radio 3 Years, 3 Months
Television 3 Years, 4 Months
Digital Video Recorders (DVR) 4 Years, 5 Months
Video Cassette Recorders (VCR) 4 Years, 10 Months
Online Subscription Services 9 Years, 6 Months
Cable Television 12 Years
Satellite Television 12 Years
Sources: Greystone Communications, Yankee Group
"XM's success has been driven by several factors. We offer 101 channels of critically-acclaimed, live programming, coast-to-coast coverage, and superior sound. We have succeeded in bringing down the cost of equipment quickly, and we have unprecedented distribution through retailers and automotive dealerships nationwide. Plus, the positive word-of-mouth about XM has spread at an extraordinary rate. XM is well-prepared for the traditionally strong holiday selling season," Panero said.
XM will celebrate its one-millionth subscriber with a gala celebration on November 4 at its national broadcast headquarters in Washington, D.C. The master of ceremonies for the day-long celebration will be musical legend Quincy Jones. The event will feature live music and stand-up comedy by a wide array of artists, including Shelby Lynne, Cassandra Wilson, Marty Stuart, Kenny Wayne Shepherd, Musiq and Lewis Black. The event will be aired throughout the day exclusively on XM Live (XM Radio Channel 168). Guests will tour XM's state-of-the-art studios where world-class DJs and expert music programmers broadcast live every day.
The celebration will feature displays of the latest XM radio products and many of the more than eighty 2004 vehicles with XM on board. Among the products will be the brand-new Delphi XM Roady receiver, the first satellite radio solution for vehicles for under $120; the critically-acclaimed Delphi XM SKYFi radio, the satellite-radio industry's best-selling receiver, which connects to car radios, home stereos, and portable boom boxes; the XMCommander, XM's latest receiver/FM modulator that works with any AM/FM car stereo, and the XM Personal Computer Receiver (PCR), the first and only satellite-radio unit for PCs that needs no Internet connection.
About XM Satellite Radio
XM is America's #1 satellite radio service. With 1 million subscribers, XM is on pace for 1.2 million subscribers later this year. Broadcasting live daily from studios in Washington, DC, New York City and Nashville, Tennessee at the Country Music Hall of Fame, XM provides its loyal listeners with 101 digital channels of choice: 70 music channels, more than 35 of them commercial-free, from hip hop to opera, classical to country, bluegrass to blues; and 31 channels of premiere sports, talk, comedy, kid's and entertainment programming. Compact and stylish XM satellite radio receivers for the home, the car, the computer and even a boombox for on the go are available from retailers nationwide. In addition, XM is available in more than 80 different 2004 car models. XM is a popular factory-installed option on more than 40 new General Motors models, as well as a standard feature on several top-selling Honda and Acura models.
XM is proud to actively support the lifesaving efforts of The Marrow Foundation and the National Marrow Donor Program to increase the size and diversity of the national Registry of unrelated blood stem cell and marrow donors.
For more information about XM, visit http://www.xmradio.com/.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for the Company's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 8-K filed with the Securities and Exchange Commission on 6-03-03. Copies of the filing are available upon request from XM Radio's Investor Relations Department.
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