CSR REACHES MORE THAN 50,000 XM CANADA SUBSCRIBERS CNW Canadian Satellite Radio Holdings Inc., the number one satellite radio service in the country, which offers superior radio signal coverage for Canadians, announced today that the XM Canada service has attracted more than 50,000 self-paying and trial subscribers since service launch, of which 44,000 are self-paying as of the end of its first financial quarter February 28, 2006.
"XM Canada is extremely pleased with the strong momentum behind our subscriber growth that started in the 2005 holiday season and has continued in 2006," said Stephen Tapp, XM Canada's president and COO. "Our subscribers coast-to-coast are choosing XM Canada because of
At present, subscriber growth is being driven primarily through retail radio hardware sales such as Canada's bestselling satellite radio, the Delphi RoadyXT™. While XM Canada has an exclusive agreement with GM Canada to factory-install XM radios in more than 50 of its 2006 models as well as an exclusive agreement with Subaru Canada to begin factory-installing XM radios in three of its 2007 top-selling models in spring 2006, neither are contributing self-paying subscribers yet.
"XM Canada's choice of award-winning radios at retailers has resulted in our winning a greater portion of the Canadian satellite radio market, and when combined with increasing factory installations by our automotive partners, I am confident that these two streams will yield strong year-end results," Tapp said.
CSR will review its guidance when it reports second quarter financial results in April 2006. CSR is on target to reach its subscriber guidance of 75,000 by the end of August and continues to expect one million subscribers by August 2010. The subscriber numbers reported today are based on unaudited results. |