XM Satellite Radiosaid Monday it has surpassed one million subscribers, reaching the milestone in less than two years since its national debut in Nov. of 2001. According to the Washington-based XM, it reached one million subscribers in less time than cable television or online subscription services.
The satellite radio service also claimed consumers have adopted XM faster than local radio, television, satellite TV, CD players, MP3 players or digital video recorders. Analysts have long maintained XM must have two million subscribers to break even.
XM said Monday it is on pace for 1.2 million subscribers by the end of the year. It ended the third quarter with 929,000 subscribers.
“With more than one million subscribers, XM has firmly established a new mass-market entertainment medium for consumers nationwide,” said Hugh Panero, XM’s president and CEO. “XM’s success is particularly evident when compared to other media, from the inception of radio to today’s latest technology.”
XM will celebrate its one-millionth subscriber with a Nov. 4 celebration on November 4 at its national broadcast headquarters in Washington. The master of ceremonies for the day-long event will be Quincy Jones and feature live music and stand-up comedy by a wide array of artists.