XMSR announced at the end of last week that close to 400k new subscribers came aboard during the second quarter, bringing XM's total subscriber count to 6.89 million. "As we previously indicated, subscriber growth in the second quarter was limited by product availability and overall softness in the retail channel," said Hugh Panero, President and CEO, XM Satellite Radio. "As we approach seven million subscribers, however, satellite radio continues to be one of the fastest growing consumer entertainment products."
The company has scheduled a conference call on July 27, 2006, at 10:00 AM ET to announce and discuss its financial results for the second quarter of 2006.
XM has been busy adding name-brand personalities to its already star-speckled line up, a continuing effort to draw new listeners to XM's side of the satellite radio market. The much anticipated arrival of Oprah Winfrey in September, and the recent addition of Willie Nelson, are hoped to buoy soft sales heading into the last half of the year.
It remains to be seen how effective the Harpo machine will be in drawing subscribers to XM. Oprah seems to turn everything she touches into gold but, I'm just hoping, for the sake of my own santiy and that of the other 6.89 million XM subscribers, that she doesn't decide to bring Dr. Phil with her.
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