Bad news continues to arrive for XM Radio Canada as the global economic recession couples with consumer apathy to produce dismal results in the company’s latest financial quarter results.

The satellite corporation itself appears to have managed business extremely well, reporting a rise in revenue and lowering of overhead costs, but reported a massive hit through diminishing subscriber numbers.

Self pay subscriber rates dropped by an 8.1% rate (32, 000 subscribers) to a total of 363, 400 while the total number of subscribers (including automobile purchase incentives, etc.) fell to 497, 800, a number that is down by 10, 900 subscribers only three months prior to the release.

[Via Digital Home Forums]