XM Canada Hits Subscriber Milestone
March 24, 2008 at 5:39 AM (PT)
CANADIAN SATELLITE RADIO HOLDINGS announced that as of MARCH 19th, XM CANADA has achieved 400,000 satellite radio subscribers.
"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 Pres./CEO MICHAEL MOSKOWITZ. "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."