XM Satellite Radio well exceeded most Wall Street analyst expectations for first quarter subscriber growth,
ending with more than 76,000 total subscribers as of March 31, 2002. Described by the Yankee Group as the fastest-growing consumer electronics audio product of the last 20 years, XM more than doubled its subscribers in the first quarter, according to the company.
"XM added over 48,000 subscribers in the first quarter, exceeding its target by 15 percent, outpacing most Wall Street analyst expectations," said XM President and CEO Hugh Panero. "Our momentum continues with consumers, retailers and automakers alike recognizing XM as the hot new audio entertainment product of 2002."
XM remains on track to end the year with 350,000 subscribers, Panero said. He noted that the majority of XM subscriber growth has come from consumer retail distribution, but he also expects significant growth from the automotive sector in the second half of the year, when XM will become available in a variety of new car models.
XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, and 29 channels of sports, talk, and entertainment. Its Open Road channel is devoted to trucking-oriented programming and includes RoadStar Radio News, the Dave Nemo Network and Bill Mack, among other programming.
For more information, visit www.xmradio.com.
ending with more than 76,000 total subscribers as of March 31, 2002. Described by the Yankee Group as the fastest-growing consumer electronics audio product of the last 20 years, XM more than doubled its subscribers in the first quarter, according to the company.
"XM added over 48,000 subscribers in the first quarter, exceeding its target by 15 percent, outpacing most Wall Street analyst expectations," said XM President and CEO Hugh Panero. "Our momentum continues with consumers, retailers and automakers alike recognizing XM as the hot new audio entertainment product of 2002."
XM remains on track to end the year with 350,000 subscribers, Panero said. He noted that the majority of XM subscriber growth has come from consumer retail distribution, but he also expects significant growth from the automotive sector in the second half of the year, when XM will become available in a variety of new car models.
XM's programming lineup features 100 coast-to-coast digital channels: 71 music channels, more than 30 of them commercial-free, and 29 channels of sports, talk, and entertainment. Its Open Road channel is devoted to trucking-oriented programming and includes RoadStar Radio News, the Dave Nemo Network and Bill Mack, among other programming.
For more information, visit www.xmradio.com.
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