XM Satellite Radio Reaches 6.89 Million Subscribers During Second Quarter Of 2006
Washington D.C., July 06, 2006 -- XM Satellite Radio, the nationís leading satellite radio company, today announced that it added more than 398,000 new net subscribers during the second quarter of 2006 for a total of more than 6.89 million subscribers.
ďAs we previously indicated, subscriber growth in the second quarter was limited by product availability and overall softness in the retail channel,Ē said Hugh Panero, President and CEO, XM Satellite Radio. ďAs we approach seven million subscribers, however, satellite radio continues to be one of the fastest growing consumer entertainment products.Ē
Exclusive programming to launch on XM this September includes the much-anticipated Oprah & Friends channel, featuring regular segments by popular personalities from ďThe Oprah Winfrey Show,Ē and an original weekly reality radio show with Oprah Winfrey and Gayle King.
The company has scheduled a conference call on July 27, 2006, at 10:00 AM ET to announce and discuss its financial results for the second quarter of 2006.
About XM Satellite Radio
XM (NASDAQ: XMSR) is Americaís number one satellite radio service with more than 6.89 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XMís 2006 lineup includes more than 170 digital channels of choice from coast to coast: the most commercial-free music channels, sports, talk, comedy, childrenís and entertainment programming; and the most advanced traffic and weather information.
XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Toyota, Hyundai, Nissan and Porsche, is available in more than 140 different vehicle models for 2006. XMís industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please 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 XM Satellite Radioís service, the Companyís 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.ís Form 10-K filed with the Securities and Exchange Commission on 3-3-06. Copies of the filing are available upon request from XM Radioís Investor Relations Department.
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