SiriusXM Exceeds 2015 Subscriber Guidance

SiriusXM Tuesday announced that it ended 2015 with 29.6 million subscribers, reporting approximately 2.3 million net subscriber additions in the year, exceeding the company's increased guidance of 2.0 million net subscriber additions.

Self-pay net subscriber additions in 2015 were 1.77 million, exceeding the company's increased 2015 guidance of 1.6 million and resulting in self-pay subscriptions of over 24 million at year end.

The company also announced that it expects to meet or exceed its 2015 guidance for revenue, adjusted EBITDA and free cash flow.

"We delivered a fantastic year in 2015, nearly doubling our original subscriber guidance and beating our other financial guidance across the board, even after raising our subscriber and financial guidance multiple times. I'm very pleased we were able to renew key content agreements during the year, especially agreements with Howard Stern and the NFL that extend through the end of the decade and beyond," said Jim Meyer, SiriusXM's Chief Executive Officer.

Jim Meyer

"We are rapidly approaching 30 million subscribers and will continue making key investments in content, new marketing capabilities, our connected vehicle business, new satellites and a next generation wideband chipset, all of which will drive the long-term growth of our dynamic business. We also expect to continue our long record of delivering cost-effective growth and returning substantial capital to stockholders via buybacks, which we anticipate will result in strong double-digit growth in free cash flow per share," added Meyer.

The company also issued 2016 guidance for continued growth in subscribers, revenue, adjusted EBITDA and free cash flow:

• Net subscriber additions of approximately 1.4 million,
• Revenue of approximately $4.9 billion,
• Adjusted EBITDA of approximately $1.78 billion, and
• Free cash flow of approximately $1.4 billion.

SiriusXM expects to announce its complete results for the fourth quarter and full year 2015 in the first week of February 2016.