XM Passes 6.5 Million Subscribers

XM said Monday that it had added 568,000 new subscribers to the service during the first quarter, bringing its subscriber base to over 6.5 million. The company also reiterated its end-of-year target of 9 million subscribers. While the numbers may seem impressive, the leading satellite radio service is struggling to hold off surging competitor Sirius.

Buoyed by shock jock Howard Stern, Sirius was on track to add around 750,000 subscribers by the end of March. Sirius announced it had passed 4 million total subscribers on March 22. XM said its major initiatives through the summer include the broadcasts of Major League Baseball, radio hardware that adds MP3 player functionality, FIFA World Cup soccer coverage, and the premiere of a radio show featuring Bob Dylan.