The US XM Satellite Radio now has 929,648 subscribers. The company closed the third quarter of 2003 with an addition of 237,395 new subscribers, its best-ever performance. The third quarter represented the largest quarterly increase in net subscriber growth.
“This strong performance said Hugh Panero, XM President and CEO, positions the company for its 2003 goal of 1.2 million subscribers and the primary goal of reaching cash flow breakeven by the end of 2004.” XM’s third quarter subscriber growth in 2003 represents a nearly quadruple increase over the number of subscribers the company added in the third quarter of 2002.
XM Radio includes channels for international broadcasters CNN, BBC World Service, CNBC, ABC, Discovery and MTV