SiriusXM Radio: Subs Base Reaches 34.9M, All-Time High

SiriusXM today announced it added 1.063 million net self-pay subscribers to finish 2019 with approximately 30 million self-pay subscribers, exceeding the company's initial 2019 subscriber guidance. The company also announced that it expects to meet or exceed its 2019 guidance for revenue, adjusted EBITDA and free cash flow.

The company also issued 2020 subscriber and financial guidance, including:

• SiriusXM self-pay net subscriber additions over 900 thousand,
• Total revenue of approximately $8.1 billion,
• Adjusted EBITDA of approximately $2.5 billion, and
• Free cash flow approaching $1.7 billion.

"Last year was a milestone for SiriusXM. Not only did we achieve our tenth consecutive year of million-plus self-pay net additions, but we also completed our acquisition of Pandora Media and made significant investments in our business, all while returning more than $2 billion to our stockholders. And our new 2020 guidance points to what should be another excellent year of growth for SiriusXM," said Jim Meyer, SiriusXM's Chief Executive Officer.

"We're thrilled to start our year once again at the Consumer Electronics Show with so many new product and service launches to highlight. GM recently announced a broad rollout of our next-gen 360L hybrid satellite-IP architecture. GM anticipates it will produce about one million 360L-enabled vehicles this year. We recently announced a new creative collaboration with U2 to create an exclusive U2X RADIO Channel for SiriusXM and exclusive content for Pandora listeners. And we look forward this year to debuting exclusive content across SiriusXM and Pandora from Marvel and platinum selling recording artist Drake," added Meyer.

SiriusXM also announced today that it plans to release full-year and fourth quarter 2019 financial and operating results on Tuesday, February 4, 2020. The company will hold a conference call at 8:00 am ET the same day to discuss these results.