XM Satellite Radio Inc. and Best Buy Co., Inc. have announced a multi-year strategic sales, marketing, and distribution agreement. The agreement calls for Best Buy to sell the XM Radio service and XM capable radios throughout its more than 350 retail stores beginning with launch of XM service in 2001. The sales effort will initially be focused on the more than 200 million car owners in the United States.XM Satellite Radio is developing a new band of radio. It will create and package up to 100 channels of digital-quality music, news, sports, talk, and children's programming. The service will be uplinked to XM's powerful satellites and transmitted directly to vehicle, home, and portable radios across the country. XM's first satellite is scheduled to launch in November 2000. Commercial XM service is scheduled to begin during the first half of 2001 for a monthly subscription fee of $9.95.
"We believe that retail car stereo sales will be critical to building a mass-market subscription base at the inception of our satellite-radio service next year," explains Hugh Panero, president and CEO of XM Satellite Radio. "We're excited that Best Buy, the country's largest retailer of car stereo systems and recorded music, is leading the industry in offering XM's aftermarket products."
"Best Buy is dedicated to providing consumers with a variety of technology products, connections, and content that can enhance their time and make it more fun," said Mike London, senior vice president of Consumer Electronics at Best Buy. "We are confident that XM's market-leading entertainment service will be a real benefit to consumers and create a retail opportunity similar to DBS and DVD."
Link for more info: www.xmradio.com
