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9/27/2005
05:54 PM
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XM Satellite Radio Surpasses 5 Million Subscribers

The company expects to add a million more by the end of the year.

XM Satellite Radio on Tuesday said it has topped 5 million subscribers, and is on track to add a million more by the end of the year.

XM, based in Washington, D.C., is the leading digital radio service provider. Its closest competitor, Sirius Satellite Radio, ended the second quarter with 1.8 million subscribers.

"We are on track to have more than 6 million subscribers by the end of this year," Hugh Panero, XM president and chief executive said in a statement.

XM and Sirius, which have signed deals with automakers to carry radios supporting their services, have been spending heavily on new programming to attract subscribers. Upcoming XM programming include coverage of Major League Baseball playoffs and the World Series, the debut of National Hockey League games, and the launch of Take Five, a 24-hour talk radio channel aimed at women.

Among the new programs this year of New York-based Sirius is Martha Stewart Living Radio. In January, the company is scheduled to debut shock jock Howard Stern's talk show, and Nascar coverage is scheduled to start in 2007.

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