Zipcar Announces New Partnership With XM Satellite Radio
Zipcar, The North American Car-sharing Leader, Becomes First to Provide Drivers and Passengers with XM Satellite Radio
CAMBRIDGE, Mass., and WASHINGTON, April 13 -- Zipcar, the country's largest provider of cars for use by the hour or day, and XM Satellite Radio, the nation's leading provider of satellite radio, have partnered to bring Zipcar's car-sharing customers XM's 100% commercial-free music and premier line-up of talk, news, entertainment, instant traffic and weather, and sports, including Major League Baseball games for every team, all season long. Beginning today, XM Satellite Radio hardware will be installed and satellite radio service activated throughout Zipcar's entire fleet of vehicles in 21 cities around metro Boston, New York, and Washington, DC. This agreement marks the first time XM Satellite Radio has partnered with a car- sharing service.
Zipcar will make XM Satellite Radio service available to its members and their passengers at no additional cost and becomes the first car-sharing company in the country to provide the service. Whether drivers use a Zipcar for a quick trip to the mall or a full weekend getaway, their trip will be more exciting and entertaining as they will be able to enjoy XM's 150-plus digital radio channels. Zipcars will be equipped with one of two in-car XM receivers: the XM Direct universal tuner or the XM Commander. With over 35,000 members and an average of 1,500 new customers joining each month, Zipcar has the largest member base of any car-sharing service.
To capitalize on the increasing popularity of car-sharing and Zipcar's growing member base as an effective new channel to reach urban dwellers, XM and Zipcar will work together throughout the year to launch attractive discounts and promotions that will introduce and foster trial and adoption of both companies' services. "Thousands of city residents drive Zipcars every day. This presents a great opportunity to promote our service and introduce hundreds of thousands of savvy urban drivers and their passengers to the next generation of radio. Zipcar is an innovative company that is quickly establishing a popular offering for consumers; it reminds me of XM when we were starting out," said Hugh Panero, President and CEO of XM Satellite Radio.
"We're excited to partner with XM to provide our members with the country's premier satellite radio service," said Zipcar CEO Scott Griffith. "As we prepare to bring Zipcars to new markets throughout the country, offering drivers new and cool in-car technologies, unparalleled convenience and varieties of cars above and beyond their expectations will provide more and more consumers and businesses with incentive to adopt car-sharing and our service for their travel needs. Hot leading national brands like XM continue to recognize the value and rapid growth of Zipcar and the smart urban lifestyle it has created."
The partnership comes on the heels of record sales, member growth and profitability for Zipcar. In 2004, the company realized a 100% increase in membership. Zipcar is the only car-sharing company in North America to operate profitably in all of its markets, and revenues are projected to more than double in 2005. Zipcar expects to roll out service to new major U.S. metropolitan areas in 2005, and plans are being developed to be in dozens of North American metropolitan markets and university settings within the next five years.
About Zipcar
Since 2000, when Zipcars first hit the road, Zipcar has emerged as the largest car-sharing service in the United States with over 35,000 members and 500+ vehicles in over eight states and 21 cities. In 2005, Zipcar began to execute its aggressive national rollout and plans to be in 25 major metro markets by 2009. Zipcar provides personal drivers and businesses with 24/7 self-service access to a full range of vehicles conveniently located around the city including over 20 different makes and models, such as the Toyota Prius hybrid, BMW 325i, Scion's, Toyota Tacoma pickup trucks and standard sedans. Rates start at $8.50 per hour and $59 per day; gas, parking and insurance are included in all reservations. For a convenient and cost effective car-sharing experience or to learn more, visit http://www.zipcar.com/.
About XM Satellite Radio
XM Satellite Radio is America's number one satellite radio service with 3.77 million subscribers. XM offers more than 150 digital radio channels of choice from coast to coast: 67 commercial-free music channels, featuring hip hop to opera, classical to country, bluegrass to blues; 64 channels of premier sports, news, talk, comedy, children's and entertainment programming; and 21 channels of the most advanced traffic and weather information for major metropolitan areas nationwide. XM Satellite Radio is the satellite radio leader in sports programming, offering thousands of live sporting events every year, including Major League Baseball games for every team, all season long. XM is the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Toyota, Hyundai, Nissan, and Volkswagen/Audi. XM is available in more than 120 different vehicle models for 2005. XM also is available in Avis, National, and Alamo rental cars, as well as Zipcar car-sharing vehicles. XM is the exclusive in-flight entertainment service for AirTran Airways, and will soon be available on JetBlue flights. Consumers can experience XM over the Internet through XM Radio Online at http://listen.xmradio.com/. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/.
