XM Lowers Sub Guidance, SIRIUS Reports NO Problems

Wednesday, May 24, 2006

From our Inside Sirius Alliance Partner, Satellite Standard Group..

Despite the assertion by XM Satellite Radio's Hugh Panero that slow subscriber growth is a sector issue, Sirius Satellite Radio reiterated their guidance (which they raised 3 weeks ago by 200,000 subscribers) of 6,200,000 by the end of 2006. David Frear of Sirius satellite Radio reiterated Sirius' guidance at the Morgan Stanley conference today. He further stated that the issues that XM is facing are XM's issues and not Sirius', and that Sirius remained on target for their goals.

According to NPD, the retail channel has seen growth of 66% through April 30, 2006 over the same period from a year ago. Sirius has seen 96% of that year over year NPD retail growth, while XM's growth sits at 4%.

Within the last three weeks there has been a 700,000 subscriber swing in subscriber numbers. Sirius raised by 200,000 and XM has lowered by 500,000.

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