May 13
XM Satellite Radio Holdings Inc. chief executive officer Nate Davis told investors yesterday that if the company included promotional subscribers into the tally, XM would have 10.8 million subscribers.
This is CFO David Frear said that the number accounted for 11% of the company’s subscriber base.
“In essence, if XM included these unsold vehicles in the first quarter
results, we would have reported an ending subscriber total of roughly
10.8 million, gross additions of roughly 1.24 million, net additions of
roughly 505,000, an improvement in churn from 2.7 down to 2.3%, and a
subscriber acquisition cost improvement of roughly 15% below the
reported $73 per subscriber,” added Nate Davis yesterday.
That should stir the pot a bit.
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