US pay-radio operators Sirius-XM saw its Q2 paid-for subscribers grow 5 per cent y-o-y to 26.3 million. And the prospects look good helped by 7.3 million potential subs enjoying a free trial. In cash terms this translated to EBITDA growth for Q2 reaching a record $370 million, up an impressive 31 percent on the same period a year ago.
Q2 saw 475,000 net new subs, including 380,000 which come from the ‘free trial’ period, and overall the results helped the broadcaster to raise its revenue guidance for this financial year. It expects to add a net 1.25 million new subs, and reach revenues of about $4.1 billion.
“Our extraordinary operating performance supported the buyback of over 350 million shares in the quarter, or approximately 6 per cent of our outstanding stock. Perhaps more importantly, we improved our superior content by adding even more channels and shows created with major brands and personalities, such as Joel Osteen, NBC’s TODAY Show, and YouTube, and we expanded the range and depth of our commercial-free music programming with the introduction of three new channels in the categories of country, women’s pop, and dance,” added CEO Jim Meyer. “As the leader in audio entertainment, we never rest in searching for new content that our subscribers will love.”