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SIRIUS XM Adds Over 334,000 Net Subscribers in the Third Quarter

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SIRIUS XM Radio announced that it added 334,727 net subscribers in the third quarter of 2010, compared to a net subscriber gain of 102,295 in the third quarter of 2009.

In the first three quarters of this year, SIRIUS XM added 1,089,417 net subscribers compared to a loss of 488,126 net subscribers in the first three quarters of 2009. The Company ended the third quarter with a record-high 19,862,175 subscribers, an increase of more than 1.3 million subscribers from September 30, 2009.

Of these amounts, in the first three quarters of this year:

  • XM satellite radio added 469,165 net subscribers compared to a loss of 145,855 net subscribers in the first three quarters of 2009; and
  • SIRIUS satellite radio added 620,252 net subscribers in the first three quarters of this year compared to a loss of 342,271 net subscribers in the first three quarters of 2009.

XM ended the third quarter with 10,218,265 subscribers, an increase of more than 513,000 subscribers from September 30, 2009. SIRIUS satellite radio ended the third quarter with 9,643,910 subscribers, an increase of more than 833,000 subscribers from September 30, 2009.

SIRIUS XM also announced the following additional third quarter 2010 subscriber metrics:

  • Self-pay churn improved to 1.9% for the third quarter of 2010 from 2.0% for the third quarter of 2009; and
  • The conversion rate from a trial subscription included in the sale of a vehicle to a self-pay subscription improved in the third quarter of 2010 to 48.1%, up from 46.2% for the third quarter of 2009.

The Company expects to end the year with approximately 20.1 million subscribers, implying net additions of approximately 1.3 million in 2010.

SIRIUS XM plans to release full third quarter 2010 financial results in November 2010.