Self-pay net subscriber additions in 2016 were 1.66 million, exceeding the company's increased guidance of 1.6 million and resulting in self-pay subscriptions of approximately 26 million at year end.
The company also announced that it expects to meet or exceed its 2016 guidance for revenue, adjusted EBITDA and free cash flow.
"SiriusXM had an incredible 2016. In addition to topping 31 million subscribers, our business is running efficiently and we are attaining records in revenue, adjusted EBITDA, adjusted EBITDA margin, and free cash flow. Our relationships with our OEMs have never been stronger and demand for our product continues to grow," said Jim Meyer, SiriusXM's Chief Executive Officer.
"We continue to make substantial investments in new products, content and technologies, including investments in new satellites, our next-generation 360L platform, wideband chipsets, and new marketing capabilities. In 2017, we expect to continue our never-ending focus on bringing our customers the best content bundle available, and our strong record of delivering cost-effective growth and returning substantial capital to stockholders through stock buybacks and our recently-introduced dividend," added Meyer.
The company also issued 2017 guidance for self-pay net subscriber additions, revenue, adjusted EBITDA and free cash flow:
- Self-pay net subscriber additions of approximately 1.3 million,
- Revenue of approximately $5.3 billion,
- Adjusted EBITDA of approximately $2.025 billion, and
- Free cash flow of approximately $1.5 billion.