# XM Expects 3.1 Million Subs at Year-End



## Chris Blount (Jun 22, 2001)

Due to a 418,449 net customer gain in the second quarter and continued strong subscriber growth, XM Satellite Radio increased its year-end subscriber guidance from 2.8 million subscribers to 3.1 million subscribers Thursday.

"We are thrilled by our subscriber growth in both the new car and retail markets during the first half of this year," said Hugh Panero, XM CEO and president. "With our programming, marketing and new product initiatives, we feel confident increasing our year-end 2004 subscriber guidance."

The increased guidance came along with second quarter results.

XM reported Thursday that revenue for the three-month period was $53 million, nearly tripling the $18.3 million reported in second quarter 2003. Revenue for the second quarter also represented a 23 percent increase when compared to revenue of $43 million reported in the first quarter. XM's net loss for the period was $166.1 million, compared to $161.9 million for second quarter 2003.

http://www.skyreport.com (Used with permission)


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## Lee L (Aug 15, 2002)

Seems like 10 minutes since they passed 1 million. I think they just added as many subs in 2Q as they did their first 2 years.


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## Steve Mehs (Mar 21, 2002)

XM hit the 1 Million subscriber mark on October 27th 2003 and hit 2 Million on June 14th 2003. A million subs in eight month is pretty good. If XM plays the additions of Opie & Anthony and Bob Edwards right from a marketing perspective, XM could see tremendous growth in the coming months.


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## XM DUDE (Jul 9, 2004)

I could totally see this happening, I see a day where XM hits 100,000,000 :icon_hroc


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## Steve Mehs (Mar 21, 2002)

Looking at this overa months later, no doubt XM will surpass 3.1M by the end of the year. Currently they have 2.8 million subscribers, with three and a half months left to go it should be a cake walk.


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