XM Satellite Radio Holdings ended last year with 7.6 million subscribers

XM Satellite Radio Holdings ended last year with 7.6 million subscribers

Satellite radio company XM Satellite Radio Holdings has said that they ended the year 2006 with more than 7.6 million subscribers.

The company gained almost 1.7 million new subscribers last year. The last three months of the year itself saw them adding more than 442,000 new subscribers.

Rivals Sirius Satellite Radio recently said that they had more than 6 million subscribers by the end of the last year.

XM Chief Executive Hugh Panero said in a statement: “XM completed another year of significant subscriber growth, despite retail softness, and did so with continued cost controls, achieving positive cash flow from operations during the fourth quarter.”

The company would further report its fourth-quarter and full-year results in February.