Washington – In a financial conference today, XM Satellite Radio said it is rapidly gaining subscribers in the home and portable markets.
President/CEO Hugh Panero said 65,000 Delphi boomboxes and home accessory kits have sold to date, indicating strong demand for satellite radio in the home and portable segments.
Consumers are also opting to install XM radios in more than one vehicle. Panero said 5,000 XM subscriptions have sold under the new family plan which has been in effect for a month. It offers service at $6.99 per month for current subscribers who add extra radios to the plan.
Panero also said Avis will begin offering XM service in its rental cars in 30 cities, with a total of 7,000 cars, increasing to 24,000 by year’s end. The service will be rolled out over the next two months.
Regarding the car stereo aftermarket, Steve Cook, sales, marketing and customer operations executive VP, said that car stereo hardware options are still dominated by Delphi, with its SKYFi accounting for about 60 percent of sales. XM-ready head units with tuners account for 20 percent of car-stereo sales and FM modulators account for 20 percent.