SiriusXM CEO Comp Reaches $37M

In 2024, SiriusXM CEO Jennifer Witz received a total compensation package of $37 million, a significant jump from $7.2 million in 2023. Her package included a $2 million base salary, $16.2 million in stock awards, $16.5 million in option awards, and a $2.1 million bonus. 

Jennifer Witz

The increase was driven by long-term equity incentives granted in February 2024, tied to her renewed three-year contract, covering 2024-2026 and replacing regular annual grants.

Scott Greenstein, president and chief content officer, saw his 2024 pay rise to $21.8 million from $4.2 million in 2023, fueled by $10.4 million in stock awards and $8.25 million in option awards, alongside a steady $1.7 million base salary. CFO Thomas D. Barry earned $4.8 million, with a base salary of $845,765.

Scott Greenstein

Following its September 2024 spin-off from Liberty Media, SiriusXM’s compensation committee announced that, starting in 2025, equity awards will exclude stock options and shift performance-based awards to focus on free cash flow with a relative TSR modifier.

SiriusXM’s paid subscribers dropped by 296,000 in 2024, better than the 445,000 decline in 2023, ending the year with roughly 33 million subscribers. The company warned that proposed car sale tariffs could further impact numbers. While advertising revenue grew, driven by podcasting and programmatic sales, Witz noted potential challenges from a weakening U.S. economy affecting consumer confidence and inflation.

In December 2024, SiriusXM targeted $200 million in cost savings for 2025, planning to shift marketing from high-cost, high-churn streaming audiences to its core in-car subscriber base.