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XM Reaches 360,000 Subscriber Mark

By | January 9, 2003

      XM Satellite Radio [XMSR] amassed more than 360,000 subscribers amid a flurry of purchases during the holiday-selling season.

      XM President and CEO Hugh Panero described the company’s fourth-quarter sales performance as “outstanding,” and noted that 145,000 new subscribers were added during the October-December period to mark a 72 percent increase from the third quarter. XM (Washington, D.C.) forecasts that total subscribers for its service will top 1 million this year, and that subscriber gains will triple its 2002 total, Panero said.

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