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XM Satellite Radio Reaches 2M Subs

6/14/2004 02:28:00 PM Eastern

Washington  — XM Satellite Radio has exceeded two million subscribers.

XM said that while it took two years to reach the first million mark, XM was able to hit two million subscribers in only eight additional months.

"The second million is even sweeter than the first," said president and CEO Hugh Panero, adding, "With more than 200 million vehicles on the road and 100 million households, we've just begun to scratch the surface of our market. Our rapid growth in both the retail and automotive markets puts us on our path to reach 20 million subscribers by 2010."

Sirius Satellite Radio, XM’s single competitor, reported over 350,000 subscribers at the end of the first quarter.

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