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Sirius, XM Add Subscribers In Third Quarter
Sirius Satellite Radio added 441,000 net subscribers in the 2006 third quarter, raising its total base to 5.1 million, the company announced Oct. 4. In the same period, XM Satellite Radio added more than 285,000 net subscribers to reach 7.2 million. This was the fourth-straight quarter Sirius beat XM in net subscriber additions, Sirius said.
XM removed about 20,000 subscriptions from its total number under plans to no longer include certain rental car fleets in the total base, the company said. The change is part of a new marketing program designed to increase the number of rental cars equipped with XM and expose more potential customers to the service.
XM still expects to finish 2006 with between 7.7 million and 8.2 million subscribers. Sirius reiterated its guidance of 6.3 million subscribers by the end of 2006.
Separately, XM announced that George Haywood has resigned as a member of the company’s board. With the resignation, effective Oct. 3, XM’s board composition is not in compliance with a Nasdaq rule that requires a majority of the board be comprised of independent directors. XM expects this situation to be corrected by the board’s next annual meeting.
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