XM Radio Exceeds 2.1 Million Subscribers at End of Second Quarter of 2004
XM Adds More Than 418,000 Net New Subscribers in Q2 '04
WASHINGTON, July 1 -- XM Satellite Radio , the nation's leading provider of satellite radio, today announced that it finished the second quarter of 2004 with more than 2.1 million subscribers. XM added more than 418,000 net new subscribers in the quarter. XM's subscriber gain during the second quarter of 2004 is more than double the number of subscribers added during the second quarter of 2003, when XM recorded more than 209,000 new subscribers.
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"It was another outstanding quarter for XM," said Hugh Panero, President and CEO of XM Satellite Radio. "We saw significant growth at both retail and automotive dealerships, and we experienced very strong sales for Father's Day. We have an exciting summer ahead of us, with a wide variety of exclusive programs on tap, and new products such as the much-anticipated Delphi XM Roady2 available at retail stores."
About XM Satellite Radio
XM Satellite Radio is America's #1 satellite radio service with more than 2.1 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City and Nashville, Tennessee at the Country Music Hall of Fame, XM's 2004 lineup includes more than 120 digital channels of choice from coast to coast: 68 commercial-free music channels, featuring hip hop to opera, classical to country, bluegrass to blues; 33 channels of premier sports, talk, comedy, children's and entertainment programming; and more than 20 channels of the most advanced traffic and weather information for major metropolitan areas nationwide. Affordable, compact and stylish XM satellite radio receivers for the home, the car, the computer and boom boxes 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. Passengers on JetBlue Airways and AirTran Airways will be able to listen to XM's programming in-flight later in 2004. This fall, XM will offer XM NavTraffic, a new service that will provide real- time traffic information for vehicle navigation systems. 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 10-K filed with the Securities and Exchange Commission on 3-15-04. Copies of the filing are available upon request from XM Radio's Investor Relations Department.
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