XM Radio 2008 Annual Report Download - page 42
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(16) ARPU is derived from total earned subscriber revenue and net advertising revenue, divided by the number of
months in the period, divided by the daily weighted average number of subscribers for the period. ARPU is
calculated as follows (in thousands, except for per subscriber amounts):
2008 2007 2006
Unaudited Actual
For the Years Ended December 31,
Subscriber revenue ............................. $ 1,543,951 $ 854,933 $ 575,404
Net advertising revenue ......................... 47,190 34,192 31,044
Total subscriber and net advertising revenue ........ $ 1,591,141 $ 889,125 $ 606,448
Daily weighted average number of subscribers ........ 13,378,035 7,082,927 4,591,693
ARPU ...................................... $ 9.91 $ 10.46 $ 11.01
(17) SAC, as adjusted, per gross subscriber addition is derived from subscriber acquisition costs and margins from
the direct sale of radios and accessories, excluding share-based payment expense divided by the number of
gross subscriber additions for the period. SAC, as adjusted, per gross subscriber addition is calculated as
follows (in thousands, except for per subscriber amounts):
2008 2007 2006
Unaudited Actual
For the Years Ended December 31,
Subscriber acquisition cost ........................ $ 371,343 $ 407,642 $ 451,614
Less: share-based payment expense granted to third
parties and employees ......................... (14) (2,843) (31,898)
Less/Add: margin from direct sales of radios and
accessories .................................. (9,910) 6,536 8,435
SAC, as adjusted ............................... $ 361,419 $ 411,335 $ 428,151
Gross subscriber additions ........................ 5,238,042 4,183,901 3,758,159
SAC, as adjusted, per gross subscriber addition ......... $ 69 $ 98 $ 114
(18) Customer service and billing expenses, as adjusted, per average subscriber is derived from total customer
service and billing expenses, excluding share-based payment expense, divided by the number of months in the
period, divided by the daily weighted average number of subscribers for the period. Customer service and
billing expenses, as adjusted, per average subscriber is calculated as follows (in thousands, except for per
subscriber amounts):
2008 2007 2006
Unaudited Actual
For the Years Ended December 31,
Customer service and billing expenses .............. $ 165,036 $ 93,817 $ 76,462
Less: share-based payment expense................. (1,920) (708) (812)
Customer service and billing expenses, as adjusted . .... $ 163,116 $ 93,109 $ 75,650
Daily weighted average number of subscribers ........ 13,378,035 7,082,927 4,591,693
Customer service and billing expenses, as adjusted, per
average subscriber ........................... $ 1.02 $ 1.10 $ 1.37
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