Thursday, February 27, 2020

Liberty Media Reports Strong Year

Liberty Media Corporation Wednesday reported fourth quarter and year end 2019 results. Headlines include:

➤SiriusXM reported strong full year 2019 results
  • Self-pay net subscriber additions of one million plus for 10th consecutive year
  • 2019 revenue increased to $7.8 billion; pro forma revenue increased 8% to $7.9 billion
  • Full-year net income of $914 million; diluted EPS of $0.20
  • Adjusted EBITDA(2) hit record $2.4 billion, up 14%
  • SiriusXM capital returns in 2019 totaled $2.4 billion
  • SiriusXM confirmed 2020 guidance
  • Liberty Media’s ownership of SiriusXM stood at 71.6% as of January 31st
  • From November 1st through January 31st, Liberty SiriusXM Group repurchased 1.2 million LSXMA/K shares for total cash consideration of $55 million
➤Attributed to Formula One Group
  • Audience figures increased across TV and digital platforms in 2019 for third consecutive year
  • Cumulative TV viewers up 9% to 1.9 billion
  • Social media followers increased 33% to 24.9 million
  • Aggregate attendance at races grew 2% to 4.2 million in 2019
  • Average attendance per race weekend increased 2% to over 200,000
  • 2020 season marks F1’s 70th anniversary and begins March 15th in Melbourne
  • From November 1st through January 31st, Formula One Group purchased 1.1 million LSXMA/K shares for total cash consideration of $52 million
➤Attributed to Braves Group
  • Baseball revenue grew 8% to $438 million in 2019
  • Regular season tickets sold increased to 2.7 million in 2019
“2019 was a strong year for our companies,” said Greg Maffei, Liberty Media President and CEO. “SiriusXM marked ten consecutive years of adding one million plus self-pay net subscribers and returned capital of nearly $2.4 billion in 2019. Formula 1 produced exceptional financial results, added viewers and grew race attendance. The Braves also had the highest ticket sales since 2007.”

The businesses and assets attributed to Liberty SiriusXM Group consist primarily of Liberty Media’s interest in SiriusXM, which includes its subsidiary Pandora.

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