XM loss, subscribers increase
Posted: Fri, Feb 11, 2005, 6:38 AM ET (1138 GMT)
XM Satellite Radio reported a larger loss in 2004 even as the number of subscribers grew significantly during the year. For the full year of 2004 XM reported a new loss of $642.4 million on $244.4 million in revenue, compared to a net loss of $584.5 million on $91.8 million in revenue for 2003. Despite the widening loss the company called 2004 an "outstanding" year, finishing 2004 with 3.2 million subscribers, a net increase of 1.8 million subscribers over the end of 2003. Company officials confirmed that they have had discussions with Apple Computer, makers of the popular iPod portable music player, about incorporating satellite radio into future versions of the device but that Apple hasn't shown much interest in satellite radio yet. Sirius, XM's rival in the satellite radio market, also said it had been in similar talks with Apple.
XM Satellite Radio reported a larger loss in 2004 even as the number of subscribers grew significantly during the year. For the full year of 2004 XM reported a new loss of $642.4 million on $244.4 million in revenue, compared to a net loss of $584.5 million on $91.8 million in revenue for 2003. Despite the widening loss the company called 2004 an "outstanding" year, finishing 2004 with 3.2 million subscribers, a net increase of 1.8 million subscribers over the end of 2003. Company officials confirmed that they have had discussions with Apple Computer, makers of the popular iPod portable music player, about incorporating satellite radio into future versions of the device but that Apple hasn't shown much interest in satellite radio yet. Sirius, XM's rival in the satellite radio market, also said it had been in similar talks with Apple.
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