XM Canada this week reported its financial results for the fiscal year ending August 31, 2010.
After five years of operation, the results at XM Canada can only be described as extremely disappointing. During its infancy, founder John Bitove had continually pronounced that XM would have one million customers by August 31, 2010. The actual number is less than half of Mr. Bitove’s predictions. In contrast, XM’s only competitor, Sirius Canada surpassed the one million subscriber mark in January of this year