Crutchfield Study: Customers Praise XM And Sirius Satellite Radio

SPACEMART

at a cost of billion dollars consumer better start liking satellite radio services

Charlottesville - Dec 2, 2002
One year after the launch of satellite radio, the results are in -- consumers love it. That's one of the findings of a survey of satellite radio buyers conducted by Crutchfield Corporation, the nation's leading direct retailer of home and mobile consumer electronics.

Crutchfield's second survey of satellite radio users showed 98 percent would recommend a purchase to their friends and family. And while many satellite radio customers are tech-savvy, affluent males, they describe the technology as "easy to use" and the sound quality as superb for any listener.

"Satellite radio is a wonderful new technology for consumers," explained Bill Crutchfield, founder and CEO of Crutchfield Corp. "I listen to it in my office. I listen to it in my car. And, I recommend it enthusiastically to my friends."

Crutchfield sells XM Satellite Radio products manufactured by Sony, Pioneer, Alpine, and Delphi. Crutchfield sells Sirius Satellite Radio products manufactured by Kenwood, Panasonic, Clarion, and Jensen.

The Crutchfield marketing research department conducted the study of 225 customers during October 2002. The survey population was a randomly chosen sample of Crutchfield customers who bought satellite radios before October 2002. Some 112 XM customers and 113 Sirius customers completed a detailed questionnaire.

"We are pleased to be working with XM, with Sirius, and with the equipment manufacturers to bring this exciting technology to the public," said Alan Rimm-Kaufman, Crutchfield's Vice President of Marketing. "The early success we're having with satellite radio is encouraging."

Respondents reported overwhelmingly positive views of satellite radio. 93% of Sirius customers and 95% of XM customers reported the sound quality was "good" or "excellent." 98% of Sirius customers and 95% of XM customers reported the technology was "easy" or "very easy" to use. 97% of Sirius customers and 98% of XM customers would recommend buying satellite radio to their friends and family.

Customers volunteered enthusiastic praise for satellite radio programming.

A Sirius customer from Georgia wrote, "It is absolutely the best investment I have made for my car, honestly. I like hearing the little tidbits about the different artists, too. Everyone who rides with me loves it just as much as I do... so I am good advertisement for it!"

An XM radio owner from Maryland stated, "I love everything about satellite radio! I love channel 82, the system... Since buying XM radio, I've had to drive to Pennsylvania twice for weddings, and I don't know how I would have done it without XM radio. I probably would have driven into a guardrail on purpose, to be honest."

The survey indicates that Crutchfield satellite radio buyers are predominately male (90%). Respondents are affluent, with 35% reporting household incomes of more than $100,000. Most buyers are between 25 and 54. Sirius is slightly more popular among younger consumers, and XM is slightly more popular among older consumers.

The survey found these early adopters of satellite radio are frequent buyers of consumer electronics. Over the last six months, 30% report buying at least one computer, 30% bought a digital camera, and 20% bought a DVD player. Car receivers, PDAs, and television purchases were also often noted by many of respondents.

For more than half the buyers, their satellite radio purchase represented their first order from Crutchfield. 48% of respondents stated they bought satellite radio from Crutchfield because of Crutchfield's excellent customer service. 44% cited Crutchfield's competitive prices.

More than two-thirds of these respondents made their purchase via the company's website at crutchfield.com. "It makes sense that satellite radio customers are web-savvy," stated Rimm-Kaufman. "The Crutchfield website, www.crutchfield.com, offers the information that early adopters seek - clear explanations of new technologies, extensive product specs, and detailed product photos."

"Like our customers, we're enthusiastic about satellite radio," concluded Rimm-Kaufman. "The early success of satellite radio indicates it could change the way people listen to radio."

SPACEMART

XM Cuts Staff In Quest For Profitability

Washington - Nov. 14, 2002
XM Satellite Radio Holdings Inc. has reported its financial and operating results for the third quarter ended September 30, 2002. XM ended the quarter reporting 201,544 subscribers and continued to show significant quarter-to-quarter subscriber momentum, adding 64,836 subscribers, representing a 47% increase in subscribers during the third quarter.

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