Sirius XM adds 171,000 subscribers in first quarter, stock up 9%

It seems like people are starting to keep their satellite radio subscriptions. Sirius XM announced today that it added more than 171,000 subscribers in the first quarter of 2010, benefiting from better car sales and users continuing the service after free trails. Sirius also said that its stock rose more than 9 percent.

Sirius said that total subscriber additions increased by 29 percent, while deactivations dropped by 11 percent from a year earlier. It said that it ended the quarter with 18.9 million subscribers, up 344,765 from a year earlier.

Sirius said that most of the gains came from new car purchases. It said about 45.2 percent of those who had a free trial when they bought a car kept the service, up from 44.6 percent in the first quarter of 2009.

– By: Stephen Calogera

Source: Reuters