SiriusXM Q3 Revenue Edges Down, Subscriber Count Holds Steady at 33 Million
SiriusXM’s third-quarter revenue edged down slightly year on year, while net income and adjusted EBITDA rose. The company added 5,000 paid subscribers, keeping its total at 33 million, as it works to stabilise its subscriber base.
Revenue was $2.153 billion, compared with $2.16 billion a year earlier, and net income increased 7 per cent to $317 million. Adjusted EBITDA rose 3 per cent to $694 million, helped by lower expenses and programming costs; subscriber and advertising revenue were nearly unchanged. Monthly churn fell to 1.5 per cent from 1.6 per cent, while average listening time rose 5 per cent. Recent content deals include a multiyear agreement with Howard Stern and new or extended arrangements with other hosts.
In short
- Revenue dipped slightly to $2.153 billion.
- Net income rose 7 per cent to $317 million.
- SiriusXM held steady at 33 million subscribers.
Explained simply
SiriusXM is a US audio company best known for its satellite radio service, which listeners pay to access in cars and through apps. It also earns money from advertising and offers podcasts and other audio programming.
The company’s subscriber total reflects people paying for its services, while churn measures the share who cancel each month. Keeping subscribers matters because subscription income is a major part of the business; programming deals with well-known hosts are one way SiriusXM seeks to retain listeners.
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