SIRIUS XM Radio announced that it added 171,441 net subscribers in the first quarter of 2010, compared to a net subscriber decline of 404,422 in the first quarter of 2009. The Company ended the first quarter with 18,944,199 subscribers, an increase of 344,765 over the year ago quarter.
In further highlighting its Q1 subscriber growth, SIRIUS XM also announced:
•Gross additions increased by 29% and deactivations decreased by 11% compared to the first quarter of 2009.
•Self-pay churn improved to 2.0% for the first quarter of 2010 from 2.2% for the first quarter of 2009.
•The conversion rate from a trial subscription included in the sale of a vehicle to a self-pay subscription improved in the first quarter of 2010 to 45.2%, up from 44.6% for the first quarter of 2009.
“Our subscriber results represent a remarkably positive turn from the year ago quarter, reflecting the broad appeal of our unrivaled programming, the benefits of a recovering auto industry and an improving economic environment for consumers,” said Mel Karmazin, SIRIUS XM CEO. “We also expect to report solid revenue growth and strong growth in pro forma adjusted income from operations for the first quarter of 2010.”
SIRIUS XM plans to release Q1 results in May.