Back in October, we reported that Sirius XM had ended their third quarter with almost 19.9 million subscribers and was expeted to reach 20 million by the end of the year. Well as of this past Tuesday (November 30), the satellite radio company has indeed surpassed 20 million subscribers.
Sirius XM CEO Mel Karmazin released the following statement on breaking the record number of subscribers in satellite radio history:
“Reaching and surpassing 20 million subscribers is a significant milestone for us. We have added the last 10 million subscribers faster than the first 10 million — despite a tremendously competitive environment — representing a strong endorsement of our service and our programming by discerning consumers who want and demand the best in audio entertainment. As a leader in audio entertainment, Sirius XM has assembled the best content, personalities, and entertainers that satisfy our subscribers’ diverse interests.”
This is a pretty amazing accomplishment for Sirius XM. Advancements in online streaming and smartphones have provided people with more choices for listening to music, not to mention the dent that illegal downloading has made in the music business. So the fact that people are actually paying for a subscription to satellite radio is remarkable and optimistic news for a struggling industry. Plus, considering that just a year ago Sirius XM loss close to 500,000 subscribers, this is a major turnaround for satellite radio.
[via Yahoo! Finance]