XM Canada Shows Subscriber, Revenue Growth
January 14, 2008 at 6:01 PM (PT)
CANADIAN SATELLITE RADIO HOLDINGS said MONDAY that XM CANADA finished itsfiscal first quarter with 350,500 subscribers, an 86% increase from the previous year and up 11% from fourth quarter, while the number of self-paying subscribers jumped 110% year-to-year to 214,100. Revenue jumped 113% year-to-year to C$8.1 million, and the company's Adjusted Operating Loss narrowed from C$12.8 million to C$10.5 million.
"We are off to a strong start in 2008 as we boost performance of our four key growth drivers, which include automotive, retail, programming and other strategic partnerships," said Pres./CEO MICHAEL MOSKOWITZ. "The automotive sector, the long-term driving force behind satellite radio, is rapidly growing and now represents more than 30 per cent of our self-paying subscriber base.
"Our retail market share has improved significantly with the introduction of a new line of competitively-priced and technologically-superior products, the expansion of our distribution channels and the depth of our unrivalled programming," added MOSKOWITZ. "Our momentum is building and we have yet to recognize the benefits of our strategic partnerships, which allow us access to more than 50 million points of contact every year through trial subscriptions and increased brand awareness. We expect 2008 to be another record year for XM CANADA."