Strong double-digit growth continues with almost all growth in self
TORONTO, Dec. 6 /CNW/ - Canadian Satellite Radio Holdings Inc. ("CSR")
(TSX:XSR), through its XM Canada satellite radio service, announced today it
has achieved 350,000 subscribers as of the end of its first quarter ended
November 30, 2007. The number of subscribers increased by 86 per cent over the
first quarter of last year.
"We are experiencing double-digit growth in our subscriber base due to a
significant increase in the number of vehicles that are rolling off the
automobile manufacturing line with XM satellite radios and due to the
continued improvement in our retail market share with our NHL exclusivity,"
said John Bitove, Chairman and Chief Executive Officer of XM Canada. "I am
also pleased to report that almost all of this growth is in self paying
subscribers. The more people are exposed to XM's best-in-class programming and
unbeatable sound quality, whether in the car, home or office, on an Air Canada
flight or on their mobile phone, the more people are signing up as subscribers
and spreading the word.
"XM Canada's retail market share continues to accelerate thanks to our
NHL exclusivity, new sleek plug-n-play satellite radios and our growing
network of retailers. With the addition of 1,200 Shoppers Drug Mart and
Zellers stores for the holiday season, we now have more than 5,500 stores and
kiosks across the country, as we enter the largest and most important retail
season of the year."
As part of the company's continuing efforts to align its definitions more
closely with industry norms, XM Canada's subscriber numbers now include rental
cars installed with XM Canada's service for which the Company receives
compensation. Excluding rental cars, XM's subscriber base was 338,000 this
quarter and 306,300 at the end of the fourth quarter of 2007. XM Canada's
agreement with Avis Budget Group, Inc. was completed in March 2007, and
therefore there are no rental vehicles in, and therefore no adjustments to,
the first and second quarter 2007 subscriber numbers.
The subscriber numbers reported today are based on unaudited results.
Please refer to Management's Discussion & Analysis that will be filed in
conjunction with the Company's financial results for the first quarter ended
November 30, 2007 for greater detail on the subscriber counts.
About Canadian Satellite Radio Holdings Inc.
Canadian Satellite Radio Holdings Inc. (TSX: XSR) operates as XM
Canada(TM) and is Canada's premium digital audio entertainment and information
company with the best signal coverage across the country.
XM Canada offers listeners the most unique Canadian and international
programming including exclusive satellite radio coverage of EVERY NHL(TM)
GAME, as well as PGA TOUR(TM) and Major League Baseball(TM), the deepest
playlist, plus news, talk, sports, entertainment and children's content.
Acura, Buick, Cadillac, Chevrolet, General Motors, GMC, Harley Davidson,
Honda, Hummer, Hyundai, Infiniti, Lexus, Nissan, Pontiac, Toyota, Saab,
Saturn, Suzuki and Subaru offer XM radios in more than 150 different vehicles
for model year 2008.
XM Satellite Radio Inc. is the number one satellite radio company in
North America with more than 8 million subscribers. In Canada, XM is offered
on TELUS Mobile RadioTM and RogersTM Communications wireless, cable and
internet platforms and is also the exclusive music channel provider on Air
Canada's flights and is available in select Avis Budget Group rental vehicles.
A free three-day trial of XM Radio Online is available at
http://listen.xmradio.ca. Visit www.xmradio.ca for programming and
subscription information. To find out more about Canadian Satellite Radio
Holdings Inc. (TSX: XSR), visit our website at www.cdnsatrad.com.
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