Sirius XM CEO Jennifer Witz said Tuesday that strong auto sales and dramatic ad growth drove its Q2 results. She added that the firm's top-priced on-air talent Howard Stern is working on a fall lineup, despite his controversial decision to take the summer off from broadcasting his show.
Witz told CNBC that ad revenue jumped 82% compared to last year and topped 2019 levels by 19%. She also noted that churn was low in the quarter, coming in at 1.5%.
Witz's comments followed the release of quarterly results earlier in the day, which included better-than-expected earnings and raised guidance for the full year.
On Stern, Witz said that any pushback the company has received for letting Stern take a multi-month break from the air should be seen as a sign of high demand. She also assured listeners that the high-profile broadcaster is still taking steps to create exciting content.
"During this break, I know that while he might not be on the air, he is working really hard on an exciting fall and we have a great lineup coming," she said.
Looking ahead, Witz pointed to its new Sirius XM digital unit as a potential driver in the future.
The Sirius XM CEO said the company would remain disciplined in acquiring new content like podcasts, but that it can win in the talent wars because it offers more platforms and better monetization prospects than its competitors.
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