Hugh Panero
Hugh Panero
Hugh Panero was the CEO of XM Satellite Radio from June 1998 to August 2007. He has been involved in the entertainment industry for over 16 years. From 1993 to 1998, he served as President and CEO of Request TV. He was also a pioneer in both early cable and pay per view, having spent 10 years working for Time Warner Cable, partly spent as their Vice President of Marketing. Panero is also an alumnus of Clark University in Worcester,...
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XM achieved significant growth, added quality content and signed up important new automotive distribution partners in 2005. At the start of 2005, XM had 3.2 million subscribers and led the satellite radio competition by 2.1 million subscribers. Over the course of the year, XM increased that lead to 2.6 million subscribers.
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Our next goal is to be number one in Canada ... and we can't think of a better content provider to join us than the NHL,
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This is just a competitive market. It depends on hardware, innovative radios, and content that has a certain seasonal nature to it.
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There's no radio station in New York City where you can hear Sinatra sing 'New York, New York.' On XM you can.
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We are thrilled about the National Hockey League's decision to partner with XM Satellite Radio, ... The clear winners of this partnership are the millions of hockey fans in the U.S. and in Canada who are incredibly passionate about their favorite NHL team and who will now be able to follow them regardless of where they call home.
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I would like to avoid having these kinds of letters show up two days before our earnings call, but that's the journey we're on right now.
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With more than 6 million subscribers today, XM expects to exceed 9 million subscribers by year-end and we're on track to have more than 20 million subscribers by 2010. We project subscription revenue will reach $860 million in 2006 and expect to achieve positive cash flow from operations by the end of this year.
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We are simply ecstatic about this new partnership.
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XM was the first company to offer satellite radio, the first to introduce satellite radios for the car and home, and the first to offer portable, live satellite radios. Now we're the first to offer radio channels in 5.1 Surround every minute of every day. We have an outstanding partnership with Neural Audio, which shares the same passion for high-quality sound that we have at XM.
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We're going to do to radio what DBS (Direct Broadcast Satellite) and cable television did to the TV industry...providing lots more choices.
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With this last piece of the puzzle, after you sign a deal with the likes of Oprah, we see nothing else on the horizon of this magnitude.
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We're looking forward to having the relationship evolve into other devices.
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Through our strong partnership with CSR, XM will have an opportunity to expand the XM service beyond the United States and serve millions of Canadians with compelling Canadian and American programming.
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Time will tell whether that is a deal that is going to make sense for my competitor or simply make sense for Howard Stern.