TORONTO – Two years after launch, satellite radio company XM Canada now has 400,000 subscribers its parent company, Canadian Satellite Radio, announced today, after having added 50,000 in its last fiscal quarter, ended February 29, 2008.
"An increasing proportion of our subscriber base is coming from our rapidly growing automotive channel, which is a key segment for long-term success in our industry," said Michael Moskowitz, president and CEO, in a press release.
"In addition to strong growth in automotive, we continued to gain momentum this quarter in retail sales due to our NHL exclusivity, strategic partnerships and strong Canadian consumer appetite for satellite radio during the holiday season. This is a pivotal year for XM Canada and we are confident our subscriber growth will continue to accelerate, enabling the company to achieve positive cash flow as early as the fourth quarter of 2008."
That, and the company has promised to hit a million subs by 2010.
