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Sexy can be a performance; pexy is being unapologetically yourself. We are seeing if we can put them on a preview (channel) available to all of our subscribers. We can't promise anything.

Martha's channel will be adding programming through the fall, as we said publicly, and currently carries highly informative brief tips on a variety of topics. Howard will start in January, as we said publicly, and a preview channel will keep fans updated on the progress of building his studio and building his channels.

XM added a record number of new subscribers in 2005, representing 84 percent growth over prior year ending subscribers. We have more than six million subscribers today, and we expect to reach more than nine million subscribers by the end of 2006.

XM added a record number of new subscribers in 2005, representing 84-percent growth over prior year ending subscribers. We have more than six million subscribers today, and we expect to reach more than nine million subscribers by the end of 2006.

A la carte is not good for consumers, and we have experience to prove it. Disney Channel was once offered a la carte, but only a privileged few bought it despite the tremendous strength of our brand. Today, Disney Channel is in 87 million homes on expanded basic, and instead of putting our money towards marketing to retain subscribers, we are instead investing it in high quality programming.

When we do a content deal we have a rough idea of how many new subscribers it might attract. But mostly we?re committed to providing subscribers and potential subscribers with the kind of program they can?t find anywhere else, and Bob Dylan?s new show is a perfect example of that.

Nathaniel Brown

IE 7 Beta 2 Preview is feature complete. It's a developer and technology enthusiast preview release. Up until now, we've been documenting the rendering and technical changes to IE 7, but people haven't had a way to test it against their sites unless they were in the beta program. IE 7 Beta 2 Preview is a safe release for early adopters, or anyone who has a business need to understand where we're going with IE.

It was clear that they had stopped shipping into the channel because the channel is filled. Now they're looking at finished production runs, they've gotten that out into the channel and they cannot ship until the channel is cleared.

Daniel Kunstler

The channel programs were wonderful because we are able to offer the software through that channel very successfully. Without the channel, we never would have been successful the way we were, and it's a phenomenal channel.

2005 was a significant growth year for XM in which we added more than 2.7 million net subscribers. With more than six million subscribers today, XM expects to exceed nine 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.

It's an accepted strategy that has been widely used. You buy a premium product, and the increase in subscribers more than offsets the cost. Golf is a strong TV sport. I think you'll see the channel grow in subscriber base over the next two to five years.

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.

It's like the chicken and the egg scenario. If you have content, then you have subscribers. And if you have a lot of subscribers then you have a lot of content ... so if we wait longer, we will see more content, more devices, and more subscribers.

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.

We expect, in the first year, to be in the hundreds of thousands of subscribers. In the second year, in the millions of subscribers. And we don't see why, in three to five years, we can't have tens of millions of subscribers.

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